Fadesa, an investor in Mexico
Mexico City— Since February 2007, Fadesa, one of the largest real estate companies in Spain, started four projects in Mexico.
The Company’s largest project outside in Spain was started last May at Los Cabos, Baja California Sur, where around US$5.4 billion are being invested.Loreto Paraiso, is a resort at Mar de Cortes, where 6,500 houses and hotels with more than 7,000 rooms are being built.
The Company, which last Tuesday announced the suspension of payments of a US$8 billion debt, is building a residential complex at Nayarit. Latibu Paraiso Development will include two deluxe hotels and 320 houses with a US$350 million investment. For the time being, there were no executives from the Company available to discuss the repercussions of this decision on the projects in Mexico.
The first development by this Company started last year in Guadalajara, Jalisco and the second one at San Miguel de Allende, Guanajuato, for which an investment of €278.5 million (some US$363 million) was announced.
At Guadalajara, Jalisco, a complex is being built made-up of around 600 residential houses, which also includes a deluxe hotel and 20,000 square meters (215,000 square feet) of commercial area. This complex is on a 12 hectares surface.
Mexico City— Since February 2007, Fadesa, one of the largest real estate companies in Spain, started four projects in Mexico.The Company’s largest project outside in Spain was started last May at Los Cabos, Baja California Sur, where around US$5.4 billion are being invested.Loreto Paraiso, is a resort at Mar de Cortes, where 6,500 houses and hotels with more than 7,000 rooms are being built.
The Company, which last Tuesday announced the suspension of payments of a US$8 billion debt, is building a residential complex at Nayarit. Latibu Paraiso Development will include two deluxe hotels and 320 houses with a US$350 million investment. For the time being, there were no executives from the Company available to discuss the repercussions of this decision on the projects in Mexico.
The first development by this Company started last year in Guadalajara, Jalisco and the second one at San Miguel de Allende, Guanajuato, for which an investment of €278.5 million (some US$363 million) was announced.
At Guadalajara, Jalisco, a complex is being built made-up of around 600 residential houses, which also includes a deluxe hotel and 20,000 square meters (215,000 square feet) of commercial area. This complex is on a 12 hectares surface.
Source: CNN Expansion - 16 July 2008
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08 September 2010
