$500 Million Mixed-Use Resort on Tap Near Mexican Capital

A $500 million, mixed-use resort development is planned for Real del Monte, just north of Mexico City. The project is the result of a partnership between Washington-based Federal Development LLC and Mexico City-based Grupo del Blanco.

The two companies formed Federal Development Mexico, which will serve as the master developer for this and other real estate projects in Mexico. In Real del Monte, the five-phase development will consist of two hotels, a spa, a golf course and private homes. The first phase is expected to open by early next year.