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Saturday, January 15, 2011
Friday, December 10, 2010
Tuesday, March 30, 2010
When times are tough, Invest in infrastructure...
or at least encourage it.
That is what the Mexican government is doing. Some projects are garnering a fair share of interest, at least in the press.
A high profile infrastructure project of note is the Riviera Maya International airport, announced formally last week my Mexican President Felipe Calderon, in Tulum, south of Cancun and Playa del Carmen on Mexico's Caribbean Coast.
The Rivera Maya Airport, which would have the capacity of up to 3 million passengers a year, has been promoted by the state of Quintana Roo for years, using its territorial reserves as trade out to the Ejidos (private land owned by co-operatives of Mexican citizens) to assemble the site, and using spin and good times to make the operations package look like a great deal. It remains to be seen if the demand equation really makes for an attractive project from an investors perspective. Already some experts are claiming that there may be few takers for the Development and Operations package. However, ASUR which operates Cancun, Cozumel, and Merida airports should be expected to submit a an aggressive bid, since they are likely evaluating the future airport as better a loss leader than direct competition.
The publicity which has been going on for several years now regarding the Riviera Maya Airport has stimulated an interesting degree of land speculation around the proposed airport site. Most interestingly is that the proposed site is surrounded by low density forest preserve, some private but with very little land available for any other use but low density, low impact residential.
A myriad of small "subdivisions" have sprung up along the road to Coba from Tulum; destined to be the main thorough fare to the new Airport.
The proposed airport will about 2 hours south of Cancun International Airport and could create some interesting dynamics for Cancun and Playa del Carmen.
The tourism growth trend for the last decade has been South-bound which allowed the blooming of Playa del Carmen, and increasing interest in Tulum. Now with the government promoting Mahahual and the Costa Maya still further south; a new airport puts more developable land within the 1-2 hour ground transport distances that many developers, investors and flags look for as key criteria for successful tourism development.
The Riviera Maya International Airport would also allow (or force) Cancun International Airport, the 2nd busiest in Mexico and newly expanded to double its flight capacity of 1 year ago, to be an international hub. The Riviera Maya International Airport may stimulate the city of Cancun to focus more on conventions or even medical tourism promoting its low costs, access, growing medical infrastructure and amenities. Casinos have been mentioned in the past for Cancun, which some say fit nicely with the new urban high density and high rise skyline; however there is social pushback on the casino issue due to concern of the impact on the local population and community.
The airport would place Playa del Carmen, in recent years the envy of tourist destinations the world over, within 45 minutes of 2 international airports. Playa del Carmen's municipality -Solidaridad - is in fact discussing ways to attract alternatives to traditional "beach tourism" investment, in conjunction with the local AMPI Riviera Maya Real Estate association. Heavily influencing future growth will be the construction of a major new road from Playa del Carmen, towards the North West shortening time to Chichen Itza and Merida, Yucatan, and providing a much needed major urban artery other than the Federal Highway which runs parallel to the Caribbean Coast line.
The point is that infrastructure goes a long way in creating synergy and bringing collateral real estate investment. Historically the Mexican government has done a good job promoting the promise of its infrastructure projects to the capital markets. In an era of repositioning and restructuring, infrastructure lays out the map for the appropriate real estate investment required for continued growth. In these dynamic and uncertain economic times, it is good to have a map.
That is what the Mexican government is doing. Some projects are garnering a fair share of interest, at least in the press.
A high profile infrastructure project of note is the Riviera Maya International airport, announced formally last week my Mexican President Felipe Calderon, in Tulum, south of Cancun and Playa del Carmen on Mexico's Caribbean Coast.
The Rivera Maya Airport, which would have the capacity of up to 3 million passengers a year, has been promoted by the state of Quintana Roo for years, using its territorial reserves as trade out to the Ejidos (private land owned by co-operatives of Mexican citizens) to assemble the site, and using spin and good times to make the operations package look like a great deal. It remains to be seen if the demand equation really makes for an attractive project from an investors perspective. Already some experts are claiming that there may be few takers for the Development and Operations package. However, ASUR which operates Cancun, Cozumel, and Merida airports should be expected to submit a an aggressive bid, since they are likely evaluating the future airport as better a loss leader than direct competition.
The publicity which has been going on for several years now regarding the Riviera Maya Airport has stimulated an interesting degree of land speculation around the proposed airport site. Most interestingly is that the proposed site is surrounded by low density forest preserve, some private but with very little land available for any other use but low density, low impact residential.
A myriad of small "subdivisions" have sprung up along the road to Coba from Tulum; destined to be the main thorough fare to the new Airport.
The proposed airport will about 2 hours south of Cancun International Airport and could create some interesting dynamics for Cancun and Playa del Carmen.
The tourism growth trend for the last decade has been South-bound which allowed the blooming of Playa del Carmen, and increasing interest in Tulum. Now with the government promoting Mahahual and the Costa Maya still further south; a new airport puts more developable land within the 1-2 hour ground transport distances that many developers, investors and flags look for as key criteria for successful tourism development.
The Riviera Maya International Airport would also allow (or force) Cancun International Airport, the 2nd busiest in Mexico and newly expanded to double its flight capacity of 1 year ago, to be an international hub. The Riviera Maya International Airport may stimulate the city of Cancun to focus more on conventions or even medical tourism promoting its low costs, access, growing medical infrastructure and amenities. Casinos have been mentioned in the past for Cancun, which some say fit nicely with the new urban high density and high rise skyline; however there is social pushback on the casino issue due to concern of the impact on the local population and community.
The airport would place Playa del Carmen, in recent years the envy of tourist destinations the world over, within 45 minutes of 2 international airports. Playa del Carmen's municipality -Solidaridad - is in fact discussing ways to attract alternatives to traditional "beach tourism" investment, in conjunction with the local AMPI Riviera Maya Real Estate association. Heavily influencing future growth will be the construction of a major new road from Playa del Carmen, towards the North West shortening time to Chichen Itza and Merida, Yucatan, and providing a much needed major urban artery other than the Federal Highway which runs parallel to the Caribbean Coast line.
The point is that infrastructure goes a long way in creating synergy and bringing collateral real estate investment. Historically the Mexican government has done a good job promoting the promise of its infrastructure projects to the capital markets. In an era of repositioning and restructuring, infrastructure lays out the map for the appropriate real estate investment required for continued growth. In these dynamic and uncertain economic times, it is good to have a map.
Wednesday, February 17, 2010
Expo Riviera Maya Agenda 21
The Local Municipality here in Playa del Carmen, Mexico has proposed a development conference tentatively named: Expo Riviera Maya Agenda 21.
What does the name mean to you?
AMPI Riviera Maya is working with the Muncipality of Solidaridad, Quintana Roo, Mexico on the project.
What does the name mean to you?
AMPI Riviera Maya is working with the Muncipality of Solidaridad, Quintana Roo, Mexico on the project.
Tuesday, February 16, 2010
RE 101. Mexico: Location, Location, Location
Recently, while the press and United States government have been using Mexico as an easy target to take attention away from other issues, Strategic Real Estate investment has been quitely fullfilling the promise of NAFTA as Mexico is proving to be a more viable strategic manufacturing partner than China.
Please see article here by Kieth Fitz-Gerald; courtesy of NAI Mexico.
Its not suprising. Simply put; while you can send a document across the globe via email; you can not (at least yet) attach an automobile, refrigerator, or sofa to an email for delivery. Nor can you skype a handshake. You can play Tiki Lodge on Facebook while sitting in Calgary, NYC or Dallas; but its not the same as having a real beach home with a real palm tree. Certain things, important things, must be delivered or done in person. For those things, Mexico has an undeniable economic competitive advantage within the context of the American Continent; and particularly North America.
Please see article here by Kieth Fitz-Gerald; courtesy of NAI Mexico.
Its not suprising. Simply put; while you can send a document across the globe via email; you can not (at least yet) attach an automobile, refrigerator, or sofa to an email for delivery. Nor can you skype a handshake. You can play Tiki Lodge on Facebook while sitting in Calgary, NYC or Dallas; but its not the same as having a real beach home with a real palm tree. Certain things, important things, must be delivered or done in person. For those things, Mexico has an undeniable economic competitive advantage within the context of the American Continent; and particularly North America.
Wednesday, January 27, 2010
Tourism rebound sought
THE NEWS
State Tourism Secretary Yolanda Osuna Huerta spoke to federal and tourism authorities and addressed different projects that aim to strengthen this sector in the country.
The inauguration took place on Wednesday in Merida Convention Center, and was lead by the Federal Secretary of Tourism, Rodolfo Elizondo Torres, and Yucatán's Governor, Ivonne Ortega Pacheco.
Several Mexican government employees attended the event, such as the secretaries of Mexico's Council for Tourism Promotion, (CPMT), the National Fund for Tourism Promotion (FONATUR), the National Institute of Anthropology and History (INAH), the Communication and Transportation Secretariat (SCT), the Environmental Secretariat (SEMANART), as well as financial institutions such as BANOBRAS and BANCOMEXT.
The conference included private meetings and an open dialogue between tourism secretaries of the 32 states and Secretary Elizondo in order to analyze and establish different strategies that would encourage the visit of national and international tourists to the country.
Viernes, 15 de Enero de 2010
VILLAHERMOSA. The national tourist agenda of the XXVII National Meeting of Tourism Officials finished yesterday. It had the purpose of addressing the most urgent issues regarding tourism nationwide.State Tourism Secretary Yolanda Osuna Huerta spoke to federal and tourism authorities and addressed different projects that aim to strengthen this sector in the country.
The inauguration took place on Wednesday in Merida Convention Center, and was lead by the Federal Secretary of Tourism, Rodolfo Elizondo Torres, and Yucatán's Governor, Ivonne Ortega Pacheco.
Several Mexican government employees attended the event, such as the secretaries of Mexico's Council for Tourism Promotion, (CPMT), the National Fund for Tourism Promotion (FONATUR), the National Institute of Anthropology and History (INAH), the Communication and Transportation Secretariat (SCT), the Environmental Secretariat (SEMANART), as well as financial institutions such as BANOBRAS and BANCOMEXT.
The conference included private meetings and an open dialogue between tourism secretaries of the 32 states and Secretary Elizondo in order to analyze and establish different strategies that would encourage the visit of national and international tourists to the country.
Sunday, January 10, 2010
Mexico Glory days Part 3: Definition of Tourism Real Estate for Mexico
What is Tourism Real Estate? Is it just residential development in popular tourist areas marketed toward 2nd home buyers?
With Tourism and Real Estate so important to the Mexican economy, I felt a definition is necessary to put our discussion of evolving state of Tourism in Mexico into a Real Estate perspective.
Tourism Real Estate is broad. It is vague. It is questionable grammatically; but look:
There is a Tourism Real Estate Expo...
is Malaysia on to something?
http://www.tourism.gov.my/en/activities/default.asp?activity_id=17
people are studying it...
http://web.mit.edu/is08/pdf/kroll.pdf
http://www.ub.es/geocrit/sn/sn-194-05.htm
Is Tourism Real Estate hotel development? Is it condos marketed to tourists? Is Tourism Real Estate any Real Estate in a Tourism oriented market of Mexico?
We invite you to help us define this term(s) in the comments section of this article posting. Pass it on!
With Tourism and Real Estate so important to the Mexican economy, I felt a definition is necessary to put our discussion of evolving state of Tourism in Mexico into a Real Estate perspective.
Tourism Real Estate is broad. It is vague. It is questionable grammatically; but look:
There is a Tourism Real Estate Expo...
is Malaysia on to something?
http://www.tourism.gov.my/en/activities/default.asp?activity_id=17
people are studying it...
http://web.mit.edu/is08/pdf/kroll.pdf
http://www.ub.es/geocrit/sn/sn-194-05.htm
Is Tourism Real Estate hotel development? Is it condos marketed to tourists? Is Tourism Real Estate any Real Estate in a Tourism oriented market of Mexico?
We invite you to help us define this term(s) in the comments section of this article posting. Pass it on!
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