MEGA RESORT DEVELOPMENT UPDATE
The Playa Del Carmen real estate market has taken a major jump with the development of a Spanish group backed by Bankia Bank, former Bancaja. Now after 3 years in the market for luxury residential living, it is now a reality that used to be just plans and 3d pictures, for many skeptical investors that jumped in at an early stage they are being amazed at what this project has become so far and it still a work in progress that continues to impress them. Currently this development is considered a destination in itself and offers everything that a dream community in the Caribbean could have.
This mega-development will be divided into separate districts–which include the largest commercial shopping area in the region, high-end hotels, beach clubs, fashion districts, a PGA approved 18-hole golf course and luxurious residential zones–all facing the Caribbean Sea on the Riviera Maya. Mayan Riviera real estate will immerse itself in this world class development.
The community is a totally environmentally-friendly resort. 75% of the area in the project will be landscaped grounds, natural forests, lakes and ecologically protected zones. The second largest coral reef in the world is located directly in front of this mega development in the Mayan Riviera. The reef is the second largest living organism on the planet and one of the oldest as well. The developers are dedicated to preserving this natural wonder so that the residents can enjoy it forever.
Now there are 3 phases in the project completed, the first phase features luxury condominiums on the beach. The property features resort amenities like pools, tennis courts, paddle, fitness center, spa, concierge services among others. Interior finishes are outstanding with high end materials, wood work, kitchen appliances from BOSCH and high tech options that make it a smart living experience using an Ipad or Blackberry app to control lights, curtains, music, etc. Located in one of the best and most exclusive beaches of the Caribbean of Mexico just a mile and a half of famous 5th Ave. (Quinta Avenida) and downtown area, in fact 5th Ave. will eventually connect directly with this development with the inevitable growth of Playa Del Carmen. The opportunity of ownership here is like nowhere else in Mexico. Developers are offering up to 65% financing through their own bank with a rate of around 5% depeding on LIBOR (LIBOR + 4%) for up to 20 years .
The second phase will feature Golf Course condos on a course branded by the prestigious South African Golfer. Currently the condos are around 70% built and due to their aggressive marketing, discounts and flexible terms not found anywhere in Mexico, the project has now sold up to 80% of its inventory in just 12 months without the project being finish or without having a model suite. The reason for this success are the fact that these units have no competitor in the area and the value being offered excede their asking price.
THE THIRD PHASE is our favorite. This is a combination of the first phase and second phase with all the experience acquired in the past based from feedback the developer has taken to design and built what the market is asking for. Residences on the golf course with resort amenities, 1, 2, 3 and 4 bedrooms with outstanding views of the golf course and partial views of the sea from higher units. The condos have the popular lock off options where you can turn a 2 or a 3 bedroom and separate them into independent units for privacy or to maximize rental returns. Amenities include access to all the facilities of the community, beach clubs, gym, spa and the shopping malls.
Now parallel to these phases we have some of the most important amenities. THE BEACH CLUB currently a small restaurant and pool will be replaced for a bigger beach club with many restaurants of international cuisine, a SPA which will compete as one of the biggest in the Riviera Maya, beach beds, umbrellas, towels and everything you could need to enjoy the Caribbean lifestyle.
THE CLUB HOUSE is found on 13,250 m² of land located across from the practice area of the golf course and the 9th and 18th hole greens. The project has vehicular access at the entrance, so occupants of the second phase residences may decide which area of the Club House they wish to drive through. It also has a special access, as well as different pedestrian walkways, which facilitate circulation inside the residential complex.
Inside the Club house there are some amenities designed to satisfy the owners: Fitness Center, Dressing Rooms, Swimming Pool, Spa, Jacuzzi, Sauna and Steam bath, Snack-Bar, Fine Dining restaurant with Spectacular views of the Golf, Terrace for Events and Pro-Shop.
THE SHOPPING MALL will be one of the best amenities, owners will have a mall of international level with more than 100 commercial locals for shopping including major brands like designer clothing, international coffee shops, ice cream parlors, boutique stores for men and woman, Gourmet stores, Deli and Groceries, Cinema and entertainment areas. This is a major value to the complex because owners wont have to ever leave the community where all these options will be walking distance from all home sites. The community will truly be an exclusive and unique community where no competitor can beat.
