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Massive new real estate project for Mexican Caribbean

Riviera Maya Mexico sxcA high-profile real estate firm has announced details of a $2.5 billion Mexican multi-property destination aimed at investors ‘of every level’.

Grupo Grand Coral said the master planned development would cover 561 ocean front acres in Riviera Maya, Mexico’s Caribbean beach region.

Real estate opportunities at ‘Grand Coral Riviera Maya’ include a number of lots and work is already under way on an initial property development of 300 condos.

The entire project is expected to take 10 years and besides residential property, a number of key leisure brands are set to be involved, including an 18 hole golf course designed by Nick Price.

Grand Coral chief executive Jordi Mercade said property buyers of all shapes and sizes would be welcome.

He said: “This master development presents a great opportunity to developers and investors to be in an impressive gated community with multiple real estate options.

“There is really an opportunity for developers and investors at every level and we will work with each one individually to meet their needs.”

Riviera Maya is located in the north-east coast of the Yucatan Peninsula in the state of Quintana Ro. It features the world’s second-largest barrier reef – which lies in the ocean waters bordering Grand Coral.

When finally complete the real estate plan will include more than 6,900 residences and is being developed with environmental property development concepts, including re-planting greenery removed during building work.

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