GICSA ACQUIRES LOT IN THE HEART OF PUERTO CANCÚN

  • Condominium lot of more than 40,707 square meters
  • Sales transaction for more than $28 million USD
  • Another example of the trust held by major developers in the future of Puerto Cancún

Cancún, Quintana Roo, Mexico, June 7, 2006 - GICSA, leading business in real estate development, acquired through its affiliate “CABI Conjunto Residenciales“, a lot of more than 40,707 square meters in Puerto Cancún, where it plans to develop a residential project with approximately 340 luxury condominiums.

Specifically, the company bought Lot-01 M-17 which is physically an island surrounded by the marina’s waters located in the Herat of Puerto Cancún. From the development, residents and visitors will enjoy a view of the main access to the marina (and the Caribbean Sea), the mega-marina, and the 18-hole golf course.

Considering that the nautical lifestyle will be one of Puerto Cancún’s main attractions, this new development will have capacity to host 25 yachts of up to 45 feet. Additionally, it will have direct access the public marina and a private beach club.

It is expected that GICSA will start preliminary Works in January 2007, at the same time that Puerto Cancún continues the introduction of its basic infrastructure.

GICSA is a growing company with much success in Mexico’s real estate market over the past 26 years. In Cancún it has experience in the development and commercialization of diverse projects such as Las Olas, Maralago, La Isla Shopping Center and others.

Puerto Cancún continues the urbanization of its Master Plan, with a general advancement of more than 55 per cent. This corresponds to an advancement of 95% of the navigation channels and 75% of main roads. Everyday more than 3,500 cubic meters of material are used within the terrain.

Puerto Cancún will start this year with preliminary Works for its 18-hole golf course designed by Tom Weiskiopf, one of the world’s most recognized designers.

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Puerto Cancún is a comprehensive project that will diversify the Cancun product, and reposition it as one of the most competitive destinations in the American Continent. It’s Master Development Plan contemplates the first sports marina in Cancun, professional golf course, hotel strip, residential and commercial allotments.

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2008 © Puerto Cancún

No Federal agency has judged the merits or value, if any, of this property. This is not an offer of sales or solicitation of offers to buy the real estate in states where such offer or solicitation cannot be made. Warning: The California Department of Real Estate has not inspected, examined, or qualified this offering. Prices are subject to change without prior notice.