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Fadesa to Invest 4 Billion Euros in Mexican Resort

By Joao Lima

May 28 (Bloomberg) -- Fadesa Inmobiliaria SA, a Spanish real estate company, will build a 4 billion euro ($5.4 billion) resort in Mexico, adding to three other projects the developer has in that Latin American country.

The complex will be located in Loreto, in the Mexican state of Baja California Sur, and will include more than 6,500 homes, a marina, hotels and golf courses, La Coruna, Spain-based Fadesa said today in an e-mailed statement.

The project, called Loreto Paraiso, will target mostly U.S. and Canadian customers that are seeking a second home, the Spanish company said.

Fadesa is investing in hotels and tourist homes outside its home market after benefiting from a housing boom in Spain which is now slowing as demand is curbed by rising borrowing costs. The developer has also started projects in Morocco and in Eastern Europe

Comments

# re: Fadesa to Invest 4 Billion Euros in Mexican Resort

Saturday, June 2, 2007 7:05 AM by Jim Griffin

Please send us information on your project....location in Mexico, prices, pictures, completion dates, directions.  Most interested in ocean front and golf.

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