Written on 22 Oct 11 at 3:45 pm by Maureen Dietrich
The Mazatlan Messanger
Marina developer invested $7 million dollars in docks recently.
Despite slow property sales experienced by most of Mazatlán´s real estate agents over the past year, sales at the Marina Mazatlán are expected to come in at over $20 million dollars by the end of 2011.
Much of that income is derived from the $40 million dollar investment by the Mexican department store chain Liverpool in the purchase of 15 hectares of land in the Marina area which will be paid in various stages. Other projects are planned for 2012, said Marina Mazatlán Director General Luis Barba Martín, which have not yet been announced.
Marina Mazatlán has invested $7 million dollars in completing the infrastructure of its docking facilities in preparation for a reactivation of the economy, said Barba Martín.
Sales at the Marina have not stopped and are continuing, slowly, he went on to say. Appreciation on properties sold in 2004 has doubled. In 2004, property that sold for $100US a meter is now being resold at $250US a meter. Condominiums sold in 2005 for $80,000US have risen to $170,000US.
Barba Martín believes that when the city bypass road is constructed from the airport to the Mazatlán-Culiacán autopista entrance at Nuevo Mazatlán, the area will explode with investment as there is considerable room for expansion in the northern reaches of the municipality.
(from Noroeste)
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