Developers Unfurl Plans for $2.5B Riviera Maya Resort

A group of Spanish developers said they would build a $2.5 billion mixed-use resort on the Riviera Maya that will span 561 acres of beachside property. Grand Coral Riviera Maya will be built in phases during the next 10 years. Among the developers are two banks: Bancaja and Banco de Valencia.

The project, which is the largest individual investment to date in the Mexican Caribbean, will include resorts, upscale condominiums, a Nick Price-designed golf course, shops and restaurants.

The gated development will be a five-minute drive from Playa del Carmen. Developers said they have invested $700 million so far. Already under way is Mareazul, which will include 300 luxury beachfront condominiums.