A 360-hectare beachfront property in Los Cabos, Baja California Sur, will be developed as a “luxury mega-project,” the governor has announced.
Construction of the project known as Costa Palmas, first announced one year ago for La Ribera in east Cabo, will begin soon, said Governor Carlos Mendoza Davis.
Consisting of a resort, residential development, marina and golf course, the project is expected to generate yearly revenue of more than US $1.3 billion, the governor said, directly benefiting residents of La Ribera.
Some 5,000 direct jobs and 10,000 indirect will be created around the luxury development, which will increase Los Cabos’ annual visitor capacity by 5,000.
Mendoza said Costa Palmas will also contribute to improving Los Cabos’ ranking as a luxury destination.
The project’s first phase will be built in six stages and include 14 homes, a pool, a children’s club and a 145-room hotel.
“The development of Baja California Sur cannot be achieved without progress in each of its regions,” said the governor. “We are working on attracting more and better investment projects to the entire state.”
He described the state as the most exclusive sun and beach destination in Mexico, visited every year by millions of tourists, which is why large companies want to invest in the state.
Source: BCS Noticias (sp)