As printed in the International Herald Tribune:
PLAYA DEL CARMEN -- For its first large-scale residential and hotel development in Mexico, the Spanish conglomerate Obrascón Huarte Lain is building a sprawling complex around a series of man-made canals and lagoons along the Caribbean coast south of Cancún.
Small boats ferry residents and guests around Mayakoba, a 40-hectare, or almost 100- acre, project, the first phase of which opened last year. The site is planned to eventually include six luxury hotels and dozens of private villas for a total cost of $1.5 billion.
"There is no place to do this kind of development in Spain," said Juan Aguilar, director of Mayakoba. So Mexico has become the hot new territory for Spanish developers.
See the full article in the International Herald Tribune.
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