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Master Development Under Way in Mexico

(March 2009) posted on Fri Mar 27, 2009 EDT


Developer Grupo Grand Coral has unveiled plans for the Grand Coral Riviera Maya, a 561-acre oceanfront master development near Playa del Carmen, Mexico. The $2.5 billion complex, whose backers include the Spanish financial houses Bancaja and Banco de Valencia, will feature resorts, condominiums, entertainment/retail/restaurant venues and a golf course designed by Nick Price.

The developer said construction is expected to take place over 10 years, and that $700 million has been invested to date. Already being built is the Mareazul complex of 300 luxury beachfront condominiums.

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