According to Lamudi, foreign direct investments (FDI) boost the real estate market and the construction industry in all southeast Mexico. This year, foreign investments have grown around 71.25 percent in the first quarter of 2017, compared with the same period last year, going from $184 million USD to $315.1 million USD.
“When it comes to Real Estate, the states of Campeche, Quintana Roo, Tabasco and Yucatán show the greatest growth nationwide, receiving billions of dollars from FDI”, reports the Federal Secretariat of Economy.
Lamudi informed that the Riviera Maya is the country’s leader in foreign investment, as numerous tourist real estate developments such as hotels, theme parks and resorts are being constructed near its marvelous beaches. For example, the stylish boutique hotel SLS Cancún will open its doors in early 2018.
Cancun registers a total investment of $1.4 billion USD from US capital.
Meanwhile, in Mérida, Yucatán, the White City, another huge complex is projected to be built in 2018.
This development will include a World Trade Center, a luxury hotel, a convention center as well as housing units in a surface of 100,000 m2 with an investment of more than $1 billion pesos.
“A total of $27 billion pesos of foreign capital is projected for Mérida until 2018. It should be noted a US drone factory is projected in the aforementioned city”, Lamudi concluded.
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