Tulum: 20-property hotel megaproject is born
Gestmadrid Asset Management Spain and Apex Capital have created a joint venture to build 20 hotels in Tulum, a destination highly appreciated by investors this year (Tulum with close to 300 new real estate developments by 2023).
The construction company in charge of the projects to build these accommodations on the Mexican coast will be PAK’TE, part of the Apex Capital group.
The works, which are expected to last five years, will begin in three months and the establishments – managed by international hotel chains already operating in the Caribbean – will be opened as they are completed until the 20 openings are completed.
For the development of these projects, they have a plot of land of one million square meters of hotel area, located in a strategic enclave, very close to other projects already in progress, such as Four Seasons, W Marriot and Azulik.
It is also next to the PPP, Papaya Playa Project, one of the most famous beach clubs in the area, which gathers tourists and artists from all over the world to participate in its musical events, attracting visitors every year.
In this agreement, Apex Capital will provide the funds for the construction of these 20 hotels of between 50 and 500 rooms, while Asset Management Spain Gestmadrid will assume the project management, engineering, marketing and will provide all the resources of the Legal Department.
“For us, this is an international leap for which we have been preparing for some time. It is a unique opportunity to put into practice all our know-how and our project management capacity in the tourism sector, as we have been doing in Spain,” explains Carlos Romero, CEO of Asset Management Spain Gestmadrid.
