The $1.6 billion Cancun Dragon Mart will break ground on construction in October of 2013,with completion expected by early 2015. The trade center will reportedly house exhibition space,warehouse space,retail stores,residential areas and 938 acres of conservation lands. In addition,it is expected to create nearly 9,000 jobs,serving as a key component of the growing relations between Mexico and China.
“The project is 90 percent Mexican-owned and will get 10 percent of its funds from privately held Chinese firm Chinamex Middle Investment & Trade Promotion Center,” writes Reuters. “Real Estate Dragon Mart is 45 percent owned by Carlos Castillo,with Monterrey Cancun holding a 45 percent interest.”
As the largest venue for Chinese goods to be found anywhere in the Americas,the Dragon Mart in Cancun will provide an enormous boost to the local economy,which will have a sort of positive domino effect by allowing business to expand among a variety of international investors. In an effort to diversify the offerings found at Dragon Mart Cancun,its developers will reportedly include products from a wide variety of international merchants,including those from the U.S.,Japan and South Korea,to name only a few,totaling at least 30 percent of the total goods sold.
Visitors to Dragon Mart Cancun should expect to see a wide range of different products,including appliances,furniture,household items,lamps and lights,textiles and much more. Also of note,the expo center is designed to provide essential support services for various businesses that are found throughout the region,including local tourism and environmental organizations,as well as other international businesses.
Since Mexico is currently importing many of its goods from other countries at a premium to the cost of Chinese goods,Dragon Mart Cancun is expected to provide a unique opportunity for Chinese and other international investors who have been looking for new ways to access Latin America’s second largest economy.
The initial phase of construction is already providing a boost for Mexican-owned companies,including the center’s builders,who have been recruited from the city of Benito Juarez,which is where Cancun is located.
“We feel strongly that Mexican labor is of high quality and very reliable,” Real Estate Dragon Mart company president Juan Carlos Lopez told Fox News.