The Mexican Federal Government will sell its stake in land to the Quintana Roo State Government, in a cooperative move to develop a massive Costa Maya real estate project in the south-east of Mexico on the Caribbean coast.
Mario de la Vega, spokesman for the National Tourism Develop Fund (FONATUR), told Mexico's Enfoque Radio station, earlier this month, that the sale in about 6 months time will help move the Gran Costa Sur real estate development forward.
The land owned by the state government that is already ear-marked for the project is dotted with mangroves and, due to environmental restrictions, is not large enough to construct the ambitious Costa Maya real estate development.
The stake in the land that FONATUR has will expand the area for development considerably, reducing the required construction density and allowing the Costa Maya real estate project to move ahead much faster.
In an interview talking about the Costa Maya real estate area, De la Vega said, "We have received a request from the state government to buy our stake in the 61 hectares [151 acres], it's likely that the state government will take over the project since the project is very small for FONATUR."
The Gran Costa Sur real estate project intends to construct a resort complex with 3,000 hotel rooms along a 2 mile (3km) strip of land on the coast near Mahahual in the Costa Maya.
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