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 Puerto Vallarta Real Estate | June 2008 
Billion-Dollar Investment in Nayarit
 PVNN
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Click image to enlarge | | A significant level of new development is occurring within the Tourism Corridor area of the rapidly growing Riviera Nayarit, and projects are being announced at an ever increasing pace. (playalastortugas.com) | | |
Due to the long-term "Tourism Corridor" program, the state of Nayarit Mexico, from its southern border with Puerto Vallarta and north to San Blas, is projected to see very strong growth in tourism-related real estate development over the next 5-10 years.
Branded as the "Riviera Nayarit," the "Tourism Corridor" plan focuses on transforming the coast of Nayarit into a sustainable tourism destination through the joint efforts of private enterprise in conjunction with local, state, and federal government agencies.
During the first week of June 2008 the Governor of Nayarit attended the ground breaking of the first major resort hotel at the new Punta Raza development, which is located near the resort towns of Rincon de Guayabitos and La Penita de Jaltemba, more than one hour north of Puerto Vallarta.
According to a recent article published by the Guadalajara Reporter:
 | Investors will plow around $950 million dollars into the state of Nayarit's most ambitious tourist development to date: Punta Raza, a 293-hectare resort located 54 kilometers north of Puerto Vallarta.
According to Carlos Brockmann, vice president of the development consortium, the plan is to build eight hotels with 2000 rooms, as well as two boutique hotels, a marina and a Robert Trent Jr-designed golf course.
The plot of land contains 2.7 kilometers of pristine beach. "It’s a unique location. There’s nothing else like it," Brockmann says.
On a visit to the state this week, Mexico’s Tourism Minster Rodolfo Elizondo said Nayarit was "a reference point for the confidence that investors and tourism developers have in Mexico."
Domestic and international tourism investment in Nayarit last year was 376 million dollars; in 2008 that figure has already topped 706 million dollars. According to recent data, 58.4 percent of the money comes from Mexican investors; 15.1 percent from Spain, 8.6 percent from Holland, 6.5 percent from the United States and 1.2 percent from Canada. |  |
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