Cancun, Riviera Maya continue to attract huge investment real estate projects

It has been anticipated that by 2018, more than $90 million in development projects will hit Cancun.

The Association of Real Estate Developers (ADI) says that Cancun continues to be a magnet for real estate projects.

Both residential and commercial developments place the state of Quintana Roo among the five most attractive investment states in the country.

According to the Ministry of Finance and Public Credit (SHCP), the Federal District tops the list with 37 percent followed by Jalisco with 19 percent and the state of Mexico with 13.7 percent. Both Nayarit and Quintana Roo finish the top five list.

The development projects for Quintana Roo will focus on tourist, industrial parks, residential office and shopping centers. In some instances, the projects are already under way.

According to data from SHCP, ADI Partners have invested more than $37 million over 23 years. The company Investment Trusts and Real Estate, has also been a driving force for project developments throughout Mexico.

At the end of last year, 127 projects around the country began construction, including new shopping centers, offices and homes worth more than $8 million.

Watch Group, the developers of Puerto Cancun, have planned more than 800 million peso in residential and commercial construction.

By the end of 2015, The City Express Hotel chain has said they will be opening a style suit in Tulum, consisting of 120 rooms. In Cancun’s hotel zone is already a new Chedraui grocery store along with a new Cinemex in Plaza La Roca.

The new investments will generate more than 490,000 jobs in and around Mexico.