Asian-American developers from Indonesia, Malaysia, Singapore and Taiwan are planning to invest upwards of $500 million in the Riviera Maya region of Mexico, specifically in and around the town of Tulum. Situated on the Yucatan Peninsula in the state of Quintana Roo along the Mexican Caribbean just south of Cancun and Playa del Carmen, Tulum is proving to be the next big thing in real estate – as evidenced by this latest major inflow of cash.
The funds will reportedly be used to build a variety of new real estate ventures in and around Tulum, including private residences, shopping malls and entertainment venues. In early December a delegation of five Asian-American representatives will visit Cancun and the Riviera Maya to finalize plans for the various new developments that are being planned for the area. According to Gerardo Elbiorn Dzubera, who is vice president of the Mexican Association of Real Estate Professionals (AMPI) in Cancun, the representatives are coming on behalf of several major Asian firms that are planning to invest in Tulum.
“Developers and investors are looking forward to doing business through partnership in the real estate sector,” shared Elbiorn Dzubera. “Initially a group of four or five families will be sent to live in the area and feel the environment.”
Southern Quintana Roo – and more specifically the area in and around the town of Tulum itself – presents a unique opportunity for investors due to its air connectivity, safety and modern infrastructure. Although this project has not yet been given a formal name, the investors have revealed that they are interested in a land reserve of around 200 hectares in Tulum, which will be part of the development project.
Tulum is actually one of the oldest cities in Mexico and is home to a variety of ancient Mayan ruins, including the only Mayan pyramid overlooking the sea. Of course, a distinct cultural identity and rich history also exists here that is unique to the Riviera Maya region. Today, the modern version of this ancient city has attracted the attention of investors worldwide, prompting the Wall Street Journal to dub Tulum “the hottest section in Mexico,” and USA Today to name it “the fastest growing town in Latin America.” In addition, Conde Nast Traveler has called Tulum’s beaches the “most beautiful” in the world – a fact that has not gone unnoticed by savvy jetsetters and Hollywood’s elite, who have popularized Tulum in recent years, helping this once sleepy fishing village evolve into the next big thing in real estate.
To learn more about real estate opportunities in Tulum, click here.