Groundbreaking took place Monday near Cancún for a 6-billion-peso (US $312 million) mall that will have “the best brands in the world,” according to the CEO of real estate developer Gicsa.

Abraham Cababie said the Grand Outlet Riviera Maya in Puerto Morelos, which will employ its “malltertainment” concept, will be the company’s biggest at 90,000 meters of rentable space. Nearly half will be allocated to entertainment attractions.

Gicsa has contributed half the required investment; its business partners will chip in the remaining 3 billion pesos.

The malltertainment concept consists of offering an all-round experience to the consumer, including places to eat and entertainment options, but going a step further by offering attractions not typical in their surroundings. In this case that will mean an ice rink.

Construction started this week and is expected to take 18 months, concluding in October 2020 and delivering a mall two or three times bigger than other similar venues in the area.

Sprawling over more than 250,000 square meters, the mall will be home to 160 stores and 16 entertainment options.

There will also be a 7,500-seat auditorium, areas of water covering over 80,000 square meters, an amusement park, a go-kart track described as the largest in the world and a hot air balloon.

Three hotels — City Express Plus, City Express Suites and NH — will also be found in the ambitious project.

Cababie also announced that Gicsa will open the Grand Outlet concept in the Riviera Nayarit and in another, unnamed resort destination.

The firm’s malltertainment portfolio grew by three last year with the opening of La Isla Mérida, Explanada Puebla and Paseo Querétaro.

“We will continue like this until 2023, with malltertainment in the 14 principal cities in the country.”

Federal Tourism Secretary Miguel Torruco remarked that private investment is necessary to generate wealth and employment, and that projects like the Grand Outlet Riviera Maya are needed.

Source: El Financiero (sp)