Puerto Peñasco Causes Excitement In Mexico City

By: Dai ChampsPuerto PeñascoIssue #393

Our real estate paradise is known by investors from all over the world
Every day there are people coming to Puerto Peñasco, not only for pleasure but also to do business. How is it said that in this port we could not have a mixture of both?

In one of the tourism developments at Sandy Beach we found a man from Mexico City, Daniel Arteaga, who was astonished by the development in Peñasco, "I was eager to know this place, in Mexico City Puerto Peñasco is getting to be known as a real estate paradise, that is why I am here, to invest together with my partners; they want to know more about this wonderful place" he commented.

Something that with out any doubt attracted our attention were the newspaper articles from national newspapers that Daniel Arteaga showed us, where Puerto Peñasco is causing great excitement in the city because of the value of the land.

In the "Reforma" newspaper we are as one of the top 5 favorite states for major investments in the tourism sector in the last six years. The first state is Guerrero with 22.6%, followed by Quintana Roo with 21.3%, Nayarit with 8%, Baja California with 7.4% and Sonora with 6.8%.
On the other hand, in the first six months of the present year, private investment in the tourism sector got as high as 2,064 million dollars (~$206m USD), the largest registered for a single period during the last six years. This number represents a growth of 13.2% with respect to the same period on the previous year, where 1,824 millions (~$182.4m USD) were invested, according to a report from the Secretary of Tourism (SECTUR).

Also, the "Reforma" newspaper published that Puerto Peñasco is growing like foam because of this comparison, where 56 millions (~$5.6m USD) where invested during the year 2001, while 260 millions (~$26m USD)where invested during 2005, and 1,200 millions (~$120m USD)are estimated between 2006 and 2009. Also, the value of the destination grew 953% in only seven years.

Its twenty kilometers of beach front are loaded with thirty two luxurious high rises, for a total of 2,615 units plus 3,600 more being constructed.
Reforma also outlines "Sandy Beach Resorts" as the first developer of the area, as it has various projects such as: Esmeralda Resorts, Casa Blanca and Princesa. The second development project is "Sonoran Resorts", where the state governors' family has 33% of the shares, and manages the Sonoran Sea, Sonoran Spa and Sonoran Sea Resorts.

In the next six years the largest investment will be the one from Mayan Palace, who will invest 1,000 million (~$100m USD) dollars, plus the selling of condominium and residential lots. This company will be the owner of the first international airport in Puerto Peñasco, an alternative airport will be built next to this tourist development.

The "land of gold" is how we are know called in Mexico City, due to the cost of land per meter square and to the luxurious developments that have a cost larger that in Acapulco. The average price for an apartment in Peñasco is 500, 000 dollars (~$50,000 USD) and it is estimated that by 2010 the price per meter square will be over 3,500 dollars ($350 USD).