The Spanis Hotel Chain Iberostar Resorts Will Build Residencial Beach Resort in Mexico

Iberostar will build residential beach resorts

28/11/2010 13:01



The Spanish hotel chain Iberostar Resorts will launch a new real estate division Iberostate, which will begin in Mexico a new fractional ownership scheme to purchase homes and condos in Playa Paraiso in the Riviera Maya, and Litibu, in the Riviera Nayarit.

The company will invest $200 million dollars in total during the years 2011 and 2012.

Yahaira Gavidia, Public Relations representative of Iberostar, said houses and condos in Playa Paraiso are already under construction and will be ready in 2011.

For real estate tourism development in the Riviera Nayarit will begin sales and construction will begin next January, she said.

Villas and condos offered by Iberostate can be acquired through outright purchase of the property or under a fractional ownership scheme.


Gavidia clarified that is not a timeshare scheme, but theway they operate is through the creation of a trust to deliver to customers their own property title.

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