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Tulum Airport: $544 Million,Competition Heats Up

12 September, 2012

Sources in the Mexican government and law firm,Basham Ringe and Correa,told
Milenio newspaper last week that the
investment needed for the new Riviera Maya International Airport in Tulum
will be $544 million.

In the same week,competition to bid for the
contract heated up,as Cancun airport operator,ASUR,confirmed it would be
entering the competition.

The sources told the Mexican national daily
that the first phase of the contract would require $314 million and then another
$230 million would be required for “complementary works”.

ASUR,which
operates nearby Cancun and Cozumel airports,as well as 7 others in the
south-east of Mexico,had said it considers the new airport unnecessary,but
confirmed last week that it would still enter the bidding competition,which
will be launched next month.

The Milenio reported that feasibility studies say
that the construction can start in the first months of 2010 with a time to
completion of 3 to 4 years,ready for operation in 2013 or 2014.

They
also confirmed that the new Tulum airport will have a capacity for 700,000
passengers in its first year.

Although the number of jobs that will
created to build the new Tulum airport is not confirmed,the government
estimates that some 30,000 workers will be required,the paper
said.

Politicians and business people locally hope that the airport will
provide the "economic trigger" to make Tulum one of the most affluent parts of
the Mexican Caribbean.

The heavy public investment has had an affect on
the price of Tulum real estate and the number of overseas real estate developers
in the area has boomed.

Great opportunities are available in land and
property and with the massive growth of tourism in Tulum and the Riviera Maya
set to continue,now is an excellent moment to invest in Tulum real estate.

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