MEXICO CITY — A sizzling stock market. A strengthening peso. Good economic growth. Someone forgot to tell Mexico that the U.S. has been flirting with recession.

Mexico’s gross domestic product expanded at an annualized rate of 2.6% in the first three months of the year compared with a year earlier, according to government figures released Thursday. It’s a respectable performance that highlights the nation’s surprising resilience in the face of a U.S. slowdown.

The growth appeared muted compared with the fourth quarter of 2007, when Mexico’s GDP expanded by 3.8%. But there was statistical noise in the first-quarter numbers. The government this year adopted a new international standard for calculating GDP, which is the value of all goods and services produced in the economy. And the January-to-March period was hobbled by this year’s early Easter week holiday, which resulted in fewer working days compared with the first three months of last year. Adjusting for those factors, first-quarter GDP growth was a solid 3.7%, according to the Treasury secretariat.

“Mexico . . . is not immune” to what’s happening north of the border, said Gray Newman, chief Latin American economist for Morgan Stanley in New York. But “it’s not suffering the kind of downturn that everyone was expecting with weakness in the U.S.”

Mexico is the world’s 14th-largest economy, according to the latest statistics available from the World Bank, with GDP of $839.2 billion in 2006.

The fortunes of Mexico have long been linked to those of its northern neighbor, bound as the two countries are by geography, immigration, trade and investment. The U.S. housing industry, for example, which employs 1 in 5 Latino immigrants, is in a slump, resulting in a marked slowdown of remittances sent to Mexico. A prolonged downturn would undoubtedly hit Mexico hard.

Still, the nation’s economy is holding up well. One factor is that much of the world economy is growing despite the U.S. slowdown. Although Mexico still ships about 80% of its exports to the U.S., its farmers and manufacturers are looking for new customers in Asia, Europe and the rest of Latin America.

That diversification is paying off. During the first quarter, Mexican exports to the U.S. grew just over 16%, while shipments to the rest of the world climbed 32%. Exports to Europe grew 56%.

The trend can be seen at Volkswagen de Mexico, the Mexican division of the German automaker, which manufactures Beetles and Jettas at a sprawling facility in Puebla. Through the first four months of the year, VW’s Mexican exports totaled 123,000 vehicles, up 29% from the year-earlier period, according to company spokesman Thomas Karig.

The Puebla plant recently began manufacturing the new fuel-efficient Jetta SportWagen, which is proving to be a hot seller in Europe, Karig said. Exports to Brazil and Argentina are strong as well. The Mexican government’s decision to enter into free-trade agreements with a number of nations has made Mexico an attractive place to build cars, Karig said.

“We can export our cars very competitively from Mexico to these other markets,” he said.

Other automakers are posting good numbers as well. Through the first four months of the year, vehicle exports from Mexico are up 18.5% over the year-earlier period, according to figures from the Mexican Automotive Industry Assn.

One of the strongest performers has been General Motors Corp. Mexico’s largest automaker exported 127,625 vehicles in the first four months of the year, up nearly 38% over 2007, according to the association.

Part of that jump reflects production of a new model, the Saturn VUE, at GM’s Saltillo, Mexico, plant. The crossover sport utility vehicle gets better gas mileage than traditional full-size SUVs, according to GM spokesman Mauricio Kuri.

Skyrocketing crude prices might be pinching U.S. drivers, but they’ve meant record oil revenue for Mexico, the world’s sixth-largest oil producer. The petroleum windfall is bankrolling a slew of government spending and investment, which is helping to keep the economy rolling. Total public spending increased 9.5% in the first three months of the year compared with the same period last year.

President Felipe Calderon plans to invest billions in roads, airports and other infrastructure during his six-year term, which ends in 2012.

“Fiscal policy is one of the main weapons that the Mexican government is activating to protect the economy from the American recession monster,” said Alfredo Coutino, Latin America analyst with Moody’s Economy.com. “We’re already seeing the effects.”

The economy has also gotten a boost from a stronger peso: The currency has risen from 10.91 to the dollar Dec. 31 to 10.37 on Thursday.

Mexico’s IPC stock market index is up 5.8% in peso terms year to date and up 11.4% in dollar terms, thanks to the peso’s strength.

marla.dickerson

@latimes.com

original at http://www.latimes.com/business/la-fi-mexgdp23-2008may23,0,6944412.story

Posted on May 23rd, 2008 by Tropicasa
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May 12, 2008
By: Scott Baltic, Contributing Editor

The launch party will be held Friday and five of 46 condo units are presold, with three more under contract. Not earth-shattering, perhaps, but further evidence that the real estate slowdown is an inconsistent beast. 

The first of two towers at Grupo GVA’s $40 million-plus Dos Marias condo project just outside Puerto Vallarta, on Mexico’s Pacific coast, broke ground about two months ago. The 18-story south tower will include 29 two-bedroom homes of nearly 2,000 square feet each, 13 three-bedroom homes of 2,400 to 2,500 square feet all at the building’s corners. In addition, there will be four penthouses: a traditional penthouse on the top floor and three two-story townhouse penthouses below it. 

Shared amenities at the development will include a bar and pool area, a gym with sun deck, 24-hour security and a small grocery store. The second tower will feature a multi-edge infinity pool on the 12th floor; a second pool in the south tower will overlook the jungle and the adjacent river.

Two of the penthouses are among the presold units, Wayne Franklin, president of Tropicasa Realty, Dos Marias’ sales representative, told CPN. “People are still looking for retirement and vacation homes,” he said, and the top end of the market hasn’t seen much fallout from the recession. Preconstruction prices start at $297,000 and go up to nearly $1 million for a penthouse. 

Tropicasa has cast a wide net to market Dos Marias, he said, and buyers so far have included Americans, Mexicans and Canadians, with some European interest as well. “Mexico is basically on sale as far as Canadians are concerned,” Franklin noted. 

The first tower is scheduled for completion in 12 to 15 months. A second, very similar tower on the five-acre site will break ground in about six months, depending on sales in the first tower.

Original here

Posted on May 12th, 2008 by Tropicasa
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Puerto Vallarta and the Nayarit Riviera represent a “magnet” for tourism.  Almost a third of buyers from the United States and Canada prefer it here.  This region, together the Mayan Riviera and Los Cabos, are the areas where most properties will be sold this year in Mexico. 

30% OF SALES OF NEW RESIDENCES FOR TOURISTS WILL BE CONCENTRATED IN THIS REGION.  The area of Banderas Bay will grab 30% of the sales of new residences for tourists this year which sales are made in the principal destinations of the country, according to estimates released by the Federal Secretary of Tourism (SECTUR).  A study made by this organization established that Puerto Vallarta and the Nayarit Riviera have become a true magnet for foreign tourists, Americans and Canadians that acquire their second home in Mexico, especially among the most important beach destinations in the country.  The study noted that Canadian tourism has grown insofar as the acquisition of second homes in the region of Banderas Bay, which is made up of the municipalities of Puerto Vallarta in the State of Jalisco and Banderas Bay in the State of Nayarit.

Source: Vallarta Opina

Posted on May 2nd, 2008 by Tropicasa
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 by Jesse Emspak

Investors who took the long view on exchange traded funds in 1998 were rewarded if they went overseas.

Nine of the 10 ETFs with the biggest yearly returns tracked overseas markets, according to Lipper data. Of those nine, four were in emerging markets.

The winner of the group is iShares MSCI Mexico (NYSEArca:EWW - News), which pulled in an annualized 16.99% through April 17. The S&P 500 returned 3.88% a year over the same span.

IShares MSCI Mexico tracks the Bolsa Mexicana, the country’s stock exchange. It’s relatively concentrated, with about 25% of the ETF weighting in America Movil (NYSE:AMX - News). America Movil has an IBD Composite Rating of 93, and seems to be forming a base.

Like many Latin American economies, Mexico has had steady, if modest, growth in the last decade.

The country also is exporting more to Europe and Asia as trade ties have grown and the peso has fallen in tandem with the dollar.

Second Best

The next best returns come from iShares MSCI Australia (NYSEArca:EWA - News), which clocked in at 13.76%.

Its biggest holding is BHP Billiton (NYSE:BHP - News), which took up 13.68% of the assets as of March 31. The ETF is less concentrated than its Mexican counterpart, though still more so than an S&P fund.

The top five holdings after BHP are Australian banks such as Commonwealth Bank of Australia.

The credit crunch has hurt Australia’s finance sector, but that is recent. For the past few years rising commodity prices have fueled growth.

It even reached the point where the central bank considered raising interest rates rather than cutting them.

Other developed markets in the top 10 were Austria, Canada, Spain and France. They were in third, fourth, seventh and 10th place, respectively.

Dollar’s Fall

Some of that performance has come as the dollar has slid against the euro and the loonie.

In 1998, the dollar was 1.08 euros and the loonie was 70 cents. Now the euro is worth $1.56 and the Canadian dollar is 98 cents.

The U.S. stock ETF that performed in the top 10 — in eighth place — is MidCap SPDRs (AMEX:MDY - News), returning 9.09% per year. Six of the 10 heaviest weighted stocks are energy companies.

But the index also includes health care, technology and industrials in the top 10.

Its biggest weighting is in industrial materials at 16.20% as of Feb. 29.

While Brazil and China wowed investors in 2007, Malaysia, Singapore and Hong Kong brought results over 10 years.

IShares MSCI Malaysia Index (NYSEArca:EWM - News) returned 11.47% and iShares MSCI Singapore Index (NYSEArca:EWS - News) brought 11.05%. IShares MSCI Hong Kong Index Fund (NYSEArca:EWH - News)was 8.72%, in ninth place behind MidCap SPDRs.

Original at yahoo

Posted on May 2nd, 2008 by Tropicasa
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By Richard Katzman and Jane Rogers
Monday, 21st April 2008

Foreign investment in Mexican real estate is on the rise and many favorable factors conspire to keep this trend moving forward.
 
Investors and developers are increasingly looking to Mexico as a land of opportunity. While Mexico’s economy is closely tied to that of the United States and is expected to be impacted in some measure by the current slowdown, the financial crisis in the U.S. has not yet had any significant repercussions on Mexico’s economic activity or international trade.

Over the past 15 years, as Mexico has increasingly drawn foreign investment, the appeal of real estate as an asset class has continuously grown.

Secure prospects and government incentives

Developers and investors have a tendency to take a longer-term perspective with regard to their activities in Mexico. This is due in part to several key trend lines that support investment in Mexico’s real estate sector and, more specifically, in lodging and tourism.

Mexico is host to the development of numerous master-planned projects offering legal certainty, quality infrastructure, ample amenities, and development platforms for hotel and residential developers.

Like those in the U.S., urban and resort markets in Mexico have witnessed a marked increase in projects combining hotel and residential components. In addition, the Pacific and Caribbean coastlines of Mexico are increasingly viewed as prime destinations for upscale developments.

Tourism and resort residential development are a national priority for Mexico. The country’s regulatory framework fully backs foreign ownership in the majority of ventures, including real estate, allowing 100% participation in shared capital. Mexican laws governing foreign investment provide legal guarantees and offer investment security.

The legal mechanism also simplifies the paperwork involved in registering foreign investments, as well as the unrestricted repatriation of profits, bonuses, dividends, and interest payments. In addition, title insurance similar to that offered in the U.S. is now widely available for purchasers of large sites and individual housing units alike.

More industry, more demand

According to the Secretaría de Turismo, Mexico received approximately $3.5 billion USD in private tourism investment in 2007, an increase of 11.12% over 2006. Foreign investment, particularly from Spain and the U.S., accounted for 43.76% of the total. Mexico has consistently been one of the largest recipients of foreign direct investment in all economic sectors among emerging markets.

As industry expands in several cities in northern and central Mexico, so does the demand for lodging, particularly in the limited- and focused-service segments that cater to business travelers. Relatively few hotels outside of the resort destinations are branded, offering an excellent opportunity for both domestic and international brands to obtain growing market share.

In urban areas, the development of mixed-use projects that combine hotel and residential uses with office and/or retail components present another opportunity for growth.

For the second consecutive year, condominium construction has outpaced that of hotels. According to the housing consulting firm Softec Mexico, sales of tourist housing in 2007 totaled 18,000 units, an increase of 52.5% as compared to the previous year.

Puerto Vallarta occupied the lead position in sales; other areas that demonstrated dynamic activity included Los Cabos, Puerto Peñasco, Acapulco, Cancún, Riviera Nayarit, and Playa del Carmen. Approximately 80% of the beachfront housing was purchased by foreigners, principally from the U.S. and Canada.

Mixed-use developments including hotel and residential components are expected to multiply with Mexico’s flourishing status as a second-home and retirement market for U.S. and Canadian baby boomers.

In fact, Mexico ranked at the pinnacle of the 2007 Global Retirement Index, published by International Living. Consumer confidence in buying residential property in Mexico is bolstered by the increasing availability of title insurance policies issued by U.S.-based companies.

Outlook

Some challenges do impose on Mexico’s attractive investment climate. The biggest obstacle to ongoing activity will likely be the tightening of credit markets in the U.S. and Mexico.

Loan-to-value ratios are expected to be reduced, and loans will be made on a more selective basis, factors that are bound to stifle development to some extent. However, investment and development platforms take a longer-term view, and in this light are somewhat less focused on and less vulnerable to the possible impact of a slowdown in the very short term.

The outlook for real estate development and investment in Mexico is, therefore, relatively sunny and streaked with the colors of a variety of prospects, from hotels to residences in urban to resort locales. Moreover, based on current trends and the government’s inviting stance, foreign investments stand on solid ground.

About Richard Katzman
Richard Katzman is Managing Director for HVS Mexico City, which was established in 2007. He has been active in Mexico and other Latin America countries since 1992. During this period, Richard formed Grupo Inmobiliario Inova, a real estate advisory boutique that merged in 2001 with Insignia/ESG, then among the most prominent real estate service companies in the world. In 2003, following the merger between Insignia/ESG and CB Richard Ellis, Richard elected to reestablish an independent platform prior to joining HVS in 2007. Richard was born and raised in Mexico City. He completed his undergraduate studies at Cornell University, School of Hotel Administration, and received his MBA from The Wharton School. He is fluent in English, Spanish, French, and Portuguese. Contact Richard at  +52 55 5245-7590 or katz...@hvs.com.

About Jane Rogers
Jane is a Senior Project Manager for the HVS Dallas/Fort Worth and Mexico City offices and is a primary manager for Mexico and Central America consulting assignments. Jane earned her bachelor’s degree from the University of Texas at Austin and has completed graduate work at Texas Woman’s University; she is multilingual in English, Spanish, and French. Jane has held positions in both food and beverage operations and hotel rooms divisions, including the position of reservations manager for Hilton Hotels and Resorts. Contact Jane at (214) 724-7995 or jrog...@hvs.com. www.hvs.com  

original here

Posted on April 23rd, 2008 by Tropicasa
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NAR Investment and Vacation Home Buyers Survey

In spite of a decline in the total vacation and investment home sales, second-home sales accounted for 33% of transactions in 2007. Sales of vacation properties fell 30.6% to 740,000 in 2007 compared to the prior year which boasted a record 1.07 million, while investment-home sales fell 18.1% to 1.35 million (down from 1.65 million in 2006), according to NAR’s new Investment and Vacation Home Buyers Survey report. During this same time, primary residence sales declined 10% to 4.34 million in 2007 from 4.82 million in 2006. NAR Chief Economist Lawrence Yun cited the disappearance of speculators from the market as the reason for the decline, leaving the market to serious buyers. The disruption in the mortgage market and tightening of credit during the second half of 2007 also impacted this market sector, but lifestyle factors and strong demographics (including a peak of population in their prime years for buying recreational property), point to a positive outlook for the vacation home market. While U.S. buyers may be taking a wait and see attitude, foreign buyers are taking advantage of the weak U.S. dollar and are propping up second-home sales. Conversely, Inman News reports that U.S. buyers are looking abroad for their second home investment in such markets as Costa Rica, Belize or Mexico, taking advantage of newer resort markets where prices are still relatively low and the U.S. dollar can buy more than at home.

Posted on April 17th, 2008 by Tropicasa
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Vallarta received more than 900,000 passenger through air travel in the first three months. 31,000 MORE FOREIGNERS ARRIVED THIS WINTER…The pall of the economic recession in the United States did not prevent the growth of Northamerican tourism to Vallarta during the winter season that recently concluded.  Data from the Pacific Airport Group (GAP) shows that during the first three months of this year, which is practically the winter season for northamerican tourism, that this beach destination received more foreign visitors than last year.  GAP says that Puerto Vallarta received, between January and March, nearly 31,100 foreign tourists more than during the same time last year.  GAP reported that during the month of March, passenger terminals registered an increase from last year of 9.1%, a rate that was pushed by an increase of 13% in international passengers as well as an increase in domestic passengers of 6.8% with respect to March of 2007.

Posted on April 16th, 2008 by Tropicasa
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By William Kemble-Diaz

LONDON, April 8 (Reuters) - Real estate mogul Sam Zell sees few opportunities in U.S and European property markets but says undersupplied residential markets in Asia and Latin America remain moneyspinners for adventurous housebuilders.

“Generally speaking, we do not see … any significant opportunities in the developed world,” Zell told a property conference on Tuesday.

Zell — who sold Equity Office Properties Trust to Blackstone (BX.N: Quote, Profile, Research) in February 2007 for $23 billion plus debt, in one of the biggest private equity takeovers — also said the U.S. dollar was undervalued relative to European currencies.

“As an equity investor … I wouldn’t be comfortable holding (real estate) assets in euros at current rates,” he said.

Zell, who heads firms including leading U.S. apartment landlord Equity Residential (EQR.N: Quote, Profile, Research) and U.S. newspaper group Tribune (TXA.N: Quote, Profile, Research), said some property-related structured products such as collateralised loan obligations had been excessively marked down in value in the United States due to “firesale accounting”.

But with banks unwilling to offload such assets at lower levels, in the belief they were worth more, the most lucrative opportunities in real estate investment were in emerging markets such as Egypt, Chile, Mexico, China and Brazil, where demand for middle-to-low income homes “continued unabated”.

Zell said another company in his stable, private equity firm Equity International, had delivered 60,000 Mexican housing units in 2007 but had not dented enormous demand from the fast-growing middle class in the country.

U.S. OFFICE PROSPECTS

Zell said he did not see the U.S office market in terminal decline, despite concerns of a drop in occupier demand due to financial sector job cuts in key markets such as New York.

“I don’t expect to see any dramatic change in cap rates or the viability of high-quality office investments in the U.S.”, he said, adding the pace of new developments had slowed sharply since the summer, which would help keep a lid on supply.

“Cap rates” are a key valuation measure for real estate investors and are also known as property yields. They measure rental income relative to a building’s capital value.

Zell said the stricken U.S housing market was also positive news for well-financed apartment landlords, as demand for rented accommodation continued to surge in the wake of a squeeze on mortgage availability.

“There’s no question we are benefiting from the fact the U.S housing market has slowed dramatically,” he said. “The apartment business is in terrific shape.” (See http://www.reutersrealestate.com/ for the global service for real estate professionals from Reuters)

(Reporting by William Kemble-Diaz, writing by Sinead Cruise; editing by David Hulmes)

(original in http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSL0848248720080408?sp=true)

Posted on April 10th, 2008 by Tropicasa
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IVA is a value-added tax that is placed on certain goods and services in Mexico (not unlike the VAT tax in Europe).    Just as foreign visitors can request a reimbursement of these taxes prior to leaving the EU countries, beginning in June the first phase of the IVA reimbursement plan will go into effect in certain airports in Mexico.  Mexico City, Cancun, Guadalajara, Los Cabos and Puerto Vallarta, will be among the first.  There will be modules set up in the airports for the reimbursement program.  Tourists can request a reimbursement of IVA for purchases in excess of 1,200 pesos spent in one place and if they can show that the items purchased will be leaving the country.  The tax amounts to 15% of the purchased item(s).  There are other rules that apply so we will keep you updated on this story as it develops.

Posted on April 7th, 2008 by Tropicasa
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Luxury Resort Community to Add St. Regis Resort, Second Jack Nicklaus Course in 2008; New Investments Include Strategic Hotels & Resorts and Enchantment Group

PUNTA MITA, Mexico–(BUSINESS WIRE)–Despite continuing news of sluggish homes sales in the U.S., residential sales rose sharply for 2007 at Punta Mita, a 1,500-acre, master-planned, luxury second-home resort community, located on Mexico’s stunning Pacific Coast.

According to master-planned developer/owner, DINE, wealthy cash buyers expected their investments to be supported by new high-end golf, spa facilities, and resorts and residences, thus driving up home sales for 2007 by a solid 30 percent over 2006. Year-end figures also reached $104.1 million in 2007, up from $79.5 million a year earlier.

DINE foresees a strong outlook for residential sales in 2008, thanks to the opening of Punta Mita’s second 18-hole Jack Nicklaus Signature golf course, and the 89-all-suite St. Regis Resort Punta Mita in October, complemented by several high-end residential offerings.

At the end of 2007, DINE sold its last remaining 57 acres of prime oceanfront land to Strategic Hotels & Resorts, Inc., a real estate investment trust and owner and asset manager of 21 high-end hotels and resorts in North America and Europe. The Chicago-based REIT will develop the property with an as-yet-unnamed mixed-use, residential resort development. Strategic is the owner of the highly successful Four Seasons Resort Punta Mita, as well as an adjacent hotel site, in which it is currently constructing the La Solana Resort & Residences, scheduled to open in 2010. Enchantment Group, a spa, resort development and management company in Sedona, Arizona, also announced a 30-guestroom destination spa and 25 residential condominiums slated for a 2010 opening.

A spear-shaped peninsula with nine miles of Pacific Coast shoreline, Punta Mita is surrounded on three sides by white-sand beaches and dramatic coves. The property boasts a Four Seasons Resort, Jack Nicklaus Signature golf course, a private Residents’ Beach Club, and several villa, condo and private home residence projects either completed or under development. DINE has invested $150 million so far in the project’s infrastructure, and at full build-out, Punta Mita will have a real estate value of approximately $2 billion.

“The investments from our residential developers and companies like St. Regis, Strategic, Four Seasons and the Enchantment Group, underscores their enthusiasm with Mexico’s most exclusive resort and residential community,” says Andres Rossetto, Managing Director of Resort Development for Punta Mita and DINE. “At the same time, our strong residential sales performance in 2007 proves that the second-home luxury market in Mexico is still strong, even during a downturn in the United States that has impacted more middle-end homebuyers.”

While Punta Mita appeals to more high-end buyers, Rossetto says the property and location is still undervalued, costing about a third of the price to build a comparable home in more traditional U.S. destinations like Hawaii, California and Florida, as well as Cabo San Lucas in Mexico. In addition, buyers entering the Punta Mita market in 2007 and 2008 are virtually purchasing property in its early stages of development and thus have great room for price appreciation.

By 2007, DINE had sold 45 out of 55 pre-construction four- to five-bedroom Four Seasons Private Villas, each with up to 7,995 square feet of both indoor and outdoor space, currently priced from $3.6 million for hillside, ocean views. Owners of these Four Seasons Private Villas enjoy full access to all services and amenities at the neighboring Four Seasons Resort Punta Mita. DINE also sold six out of 15, one-acre estate lots at Kupuri, priced from $2.25 million for secluded hillside locations to $7.2 million for beach-front estate lots. Each home developed at Kupuri will offer owners gated privacy, generous interior and exterior space, and highly coveted vistas of the Pacific Ocean, as well as access to exclusive amenities for Kupuri homeowners, including a private yacht pier.

Punta Mita’s Porta Fortuna community also experienced strong demand for its new product, “Zen Casitas,” selling ten of twelve pre-construction units at an average price of $1.5 million each in 2007. Set on 14 acres of oceanfront property, the Zen Casitas are two-story, three-bedroom units with some 4,000 square feet of combined indoor and outdoor space. With such strong demand for the Porta Fortuna community, the developer will be releasing the first phase of its Las Fortunas luxury condos in April 2008.

Meantime, the El Encanto community sold six out of 15 available three-bedroom “flat-style” Condo La Vista condominiums, each costing up to $1.4 million and spanning 2,850 square feet of indoor space and 1,000 square feet of exterior space. In addition, El Encanto released the sale of nine luxury, two-story and split-level oceanfront and golf residences.

At Las Palmas de Punta Mita, all 38, two- to four-bedroom luxury villas of the first phase were sold between 2006 and 2007, costing anywhere from $1.175 million to $1.65 million. Based on its success, construction is slated to commence in Spring 2008 on Phase II’s Las Palmas Pacific Villas, a series of 80 four-bedroom/four bath luxury condominiums spread among 10, four-story low density buildings. Each building will boast a Mediterranean and Mexican design, similar to the look of the first phase. Pre-construction prices are expected to begin at $1.5 million per residence, and all 80 units are expected to be completed over a four- to five-year period.

Any whole ownership residence at Punta Mita qualifies for membership in the private Club Punta Mita, which includes the existing 18-hole Jack Nicklaus Signature Golf Course, a second Jack Nicklaus Signature course (opening 2008) and access to Punta Mita’s Residents’ Beach Clubs and Tennis Club. Residents also have access to a complete array of services and activities through Punta Mita’s Residential Concierge Services.

For more information on Punta Mita, contact the Punta Mita Properties Real Estate Center toll-free from the U.S. at 888-647-0979; or visit www.puntamita.com.mx/ or info@puntamitaproperties.net.

About Punta Mita, Mexico

Punta Mita is an innovative resort and residential community covering more than 1,500 acres on a spear-shaped peninsula surrounded on three sides by white sand beaches, Pacific Ocean waters and lush tropical flora. It is currently home to Four Seasons Resort Punta Mita, various residential homes and the Jack Nicklaus Signature Golf Course at Punta Mita, ranked World’s Best Golf Resort by readers of Condè Nast Traveler 2006 and one of the best golf courses by Travel + Leisure Golf in 2006. The master plan of Punta Mita includes several luxury developments in the works, including the St. Regis Resort & Residences (October 2008) with a second Jack Nicklaus Signature golf course, and a variety of exclusive residential offerings and estate lots to complete this very privileged resort community. www.puntamita.com.mx

DINE, Mexico’s premier real estate development company, is the owner and developer of Punta Mita. DINE’s real estate portfolio includes commercial, residential and master planned communities throughout Mexico. DINE was founded in 1978 to serve the specific needs of the highest income sectors in Mexico, establishing unprecedented design quality in residential, commercial, leisure and corporate real estate development. www.dine.com.mx

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Posted on March 31st, 2008 by Tropicasa
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