The new City Mayakoba (also known by Spanish name Ciudad Mayakoba) development near Playa del Carmen in the heart of Mexico’s Riviera Maya broke ground this week,according to the Riviera Maya News. The new metropolitan park will reportedly be built on more than 400 acres of pristine coastal property and will include residential homes,shopping areas,golf courses,sports and cultural facilities,schools and a hospital.
“Builders are anticipating the addition of 3,600 homes over the next five years,” writes the Riviera Maya News.
The park will also have plenty of space for recreation and outdoor activities for children as well as adults,along with a multipurpose palapa and a number of bike paths. The entire project is expected to take around five years to complete,with the first stage set for completion by March of 2016. The initial stage of development is also expected to create around 1,100 new jobs.
The development is funded by a combination of government and private money,with all plans for the project approved by Mexico’s Ministry of Environment and Natural Resources. The City Mayakoba development comes at an ideal time for the region,as a tourism boom in Playa del Carmen prompts a variety of lucrative real estate investment opportunities throughout the Riviera Maya.
“The $1 billion project will be a combination of residential and commercial space,” shared Agustín Sarasola,general manager of OHL Group,the Spanish engineering and construction firm that is behind the project. “The firm has projected the demand for housing along the Riviera Maya will reach around 23,000 units over the next five years.”
OHL also revealed the demand for residential and “residential plus” homes will increase by at least 7,000 units over the next five years.
All told,City Mayakoba will actually consist of two separate parts; one that includes a development model designed for the local population,and another that will be able to respond to the market for residential properties that are built around a common social hub. Three residential developments will also be included in the finished community,with plans for an economical section and middle class housing with easy access to a variety of different commercial facilities and amenities,including a golf course,social club and beach club.
“Mayakoba Country Club will be a high-end area constructed around an 18-hole golf course,” writes the Riviera Maya News.
Finally,the area dubbed “Senderos Mayakoba” will be an environmentally responsible residential project that offers homeowners an eco-chic lifestyle. All residents of the new City Mayakoba development will enjoy access to an urban park of more than 24 acres,with plenty of green space,nature trails and bike paths,as well as a variety of shopping,entertainment and education facilities for children of all age levels,as well as health services,art and cultural initiatives and sports facilities to provide residents with the very best quality of life.