Montag, 14. Januar 2008
With an investment of this magnitude, Group Grand Coral (GGC), in partnership with Bancaja and Banco de Valencia, will carry out the mixed property development project “Grand Coral Riviera Maya,” which will be the largest development in Quintana Roo.
The group’s managing director, Jordi Mercadé, explained that the tourist development will consist of 6,500 residences, along with two boutique hotels, a beach club, a public shopping centre and a 180-metre-long swimming pool.
He added that the golf course will require an initial investment of 30 million pesos for land preparation and will trigger one of the largest investments in the Playa del Carmen region.
In a press release, Mercadé explained that the Grand Coral Riviera Maya project, which will encompass a surface area of 225 hectares, will be a community of residential-sector condominiums with average prices ranging between 5 and 10 million pesos. The development will also include a 3-km. beach.
He added that the first phase of development, which includes the road infrastructure, the installation of light and water for domestic services and the construction of 300 apartments, is already under way and should be completed in autumn 2008.
The managing director also indicated that group investors have been participating in the Spanish market since 1989 through Bancaja Habitat, part of the property-development division of Bancaja.
He mentioned that one of the principle projects of the Spanish property development company is Mareazul, the first beach-front property within the mega-development of Arrecife Grand Coral, which extends from the end of the Yucatán Peninsula to Honduras.
Group Grand Coral, along with Banco de Valencia and Bancaja de España, is also planning to invest more than 3,000-million dollars over the next few years in a handful of property-development projects in Cancun, Riviera Maya and San José del Cabo.
EL UNIVERSAL. Com----January 2008
