Completion of Caribbean Tourist Compound Takes $1.5 Billion

The Costa Maya Tourist Compound, being built on a 12,200-acre vacant lot bathed by the Mexican Caribbean Sea, will require a $1.5 billion investment package, the state government of Quintana Roo informed today.

State Tourism Secretary Artemio Santos explained the Costa Maya compound, intended for deep-pocket travelers, includes the construction of hotels, marinas and other facilities that will make it the second-biggest resort in Mexico with great chances of becoming the country’s premier home port in only three years.

Mr. Santos added the new environment-friendly establishment will be located in the Sian Kan biosphere reserve, some 210 miles south of Cancun.

In addition to that, state authorities are planning to pour $80 million into new roads that to hook up the southern Mexican state with the rest of Central America. That money will also be used for remodeling the Chetumal International Airport and for outlaying new housing projects.

Moreover, Isaac Hamui, president of the Costa Maya Management Council, pointed out the Majahual cruise port, Mexico’s number-two pier, has already welcomed the one millionth tourist this year.

The seaport facility is expected to receive a record high 240 cruise liners and churn out $49 million worth of revenues in 2004.