Dragon Mart Cancun land to likely be resold

Dragon Mart land to likely be resold

Cancun, Q.R. – The partially developed land for the rejected Dragon Mart Cancun project is likely to be resold as it becomes available once again.

An upcoming nullity trial due to the cancellation of the Dragon Mart project several years ago has investors seeking to recover the land. Juan Carlos López Rodríguez, Dragon Mart Cancun project representative, said that it would likely be July when the first instance of the nullity trial filed with the Federal Tax and Administrative Court of Justice is resolved.

He notes that since the land has increased in value since its original purchase, the idea is to put the 557-hectare plot up for sale so another project could be developed in the area.

The land is located in what is referred to as the Golden Mile, an undeveloped stretch of highway in the municipality of Benito Juárez between Cancun and Puerto Morelos. López Rodríguez commented that the land may be used for another development such as a housing project or theme park. He explained that the project was canceled due to political reasons, however, environmental issues were used to protect specific commercial businesses, citing no one likes competition.

Once the nullity judgement has been resolved in court, he says the only thing investors are looking for is to sell the land and recover their money.

Permits to build Dragon Mart Cancun were obtained in late 2012. In 2013, the Federal Environmental Protection Agency (Profepa) received nine complaints from environmental groups that resulted in the Senate requesting Profepa report on the construction of the project.

In 2015, Profepa announced the closure of the commercial and housing project due to lack of authorizations in exchange for land use, saying the project had “a negative environmental impact” and that construction violated several laws of protection to the environment.

The 557-hectare site where the project was being built is located on El Tucán property, property that is considered a forested territory.