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Cancun moving forward with mixed condo projects

Cancun, Q.R. — The concept of mixed condominium projects with commercial premises will continue to be widely developed in Cancun in 2021, says the head of the Mexican Association of the Real Estate Industry.

María Eugenia Martell Sánchez, head of the Asociación Mexicana de la Industria Inmobiliaria en Quintana Roo, says the city intends to continue with the construction of mixed premises that include residential and small commercial squares.

She explained that there is currently about a dozen of these projects in the works, but their development was halted by the pandemic. However, since the beginning of the economic reactivation several months ago, more than half of these developments have been able to resume construction.

Martell Sánchez says that the construction projects include condominiums with onsite services such as medical offices and pharmacies, as well as dentists, stationery stores, laundry, food and other services.

Thus, she explained, tenants and area residents no longer need to move toward the center of the city to utilize these types of services. Having common services onsite means a reduction in mobility and vehicle traffic.

“Such developments can be generated in any part of the city, for example, in the southern part of the municipality. This year, we have plans to start one of these mixed projects that includes several condominiums with a fairly large commercial plaza that will include a hospital,” she highlighted.

In view of the construction guidelines for Cancun, she said what they are looking for is vertical constructions.

“This also generates something like micro commercial areas where there is an opportunity to make investments for a single person with some premises and the services it offers, such as a doctor or also from groups of investors who could put, for example, a series of analysis laboratories and laundry services in each group of condominiums,” she noted.

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