For Nayarit’s newly elected Governor Antonio Echeverria Garcia CPA.; he’s administration will take office in November and is to publish a Plan for Social/ Urban Development in January of 2022. The young attorney comes from a political background mostly inclined to the left but is said to have a pro-Venture Capitalist mindset considering that he’s been an entrepreneur since the age of 17 and has headed Grupo Alica; a conglomerate with holdings in media, real estate, soft drinks, and car dealership founded in 2013. Needless to say Echeveria won the elections by over 62,700 votes which translates to about 11 points.
What does the future hold for the state of Nayarit?
One may ask, and at the moment one can only imagine. But if we were to endeavor in this challenge where would we start? Well, what’s lacking?
- Tax Incentives for Industrial Corporations: More Jobs that aren’t tourism based
- More Financial Institutions that offer funding for both Commercial Real Estate and Tourism Development.
- Better Lending to Small and Medium Sized Businesses
- More 2 year Tech oriented Colleges and Prep- Schools
- More Farm Co-ops to help represent small independent farmers
- More Government oversight on Non-profits that commerce with indigenous populations such the Huichol and Cora Indians.
Source: https://vallartalifestyles.com/gdl-pv-highway-could-be-ready-this-year/ https://www.worldhighways.com/wh10/feature/mexicos-new-jala-puerto-vallarta-highway
The Majority of the private toll roads in Mexico are developed through private corporate equity allowing the Government to bid out contracts and then charge a concession that gets paid yearly over a period of 20 to 50 years. Urban development that happens within a state, thus gets subsidized by Federal Funding but has to be petitioned by State gubernatorial administrations.
As many would assume that Politics can often have a huge impact on urban development and Infrastructure, for Mexico’s “Nayarit Riviera”. State Governorships have little to do these days with Commercial Real Estate Investment and more to do with urban development and planning. In the Case of Nayarit for example the biggest project in terms of Infrastructure will be the new “Super High-way” or toll road that will connect Guadalajara to Puerto Vallarta through a series of 3 major tunnels (El Guamuchil, Bueyes, 3rd is unknown) and the “Las Truchas Bridge” all made with heavily compacted pavement. The Road will run for a total of 179 KM (111.225 Miles) long with 4 lanes across (39 feet in total width) which will cut travel time by half allowing for travelers to make the trip in 2 hours 30 minutes! This will have a huge impact for the Vallarta Nayarit region creating a major attraction for affluent income families of the Bajio Region which is mostly composed of Aguascalientes, Highlands of Jalisco, Guanajuato, and Queretaro.
“Grupo Carso is in charge of developing this last phase, which consists of 86 kilometers and will integrate three tunnels with ventilation system and high safety standards. So far, two of these three spectacular tunnels show great progress and their main characteristics are:
- “El Guamúchil”
Located very close to a town in Riviera Nayarit which shares its name, the length of this tunnel will be 1,100 meters.
- “Bueyes”
At 540 meters long, this tunnel will pass very close to Sayulita, Nayarit.
The third tunnel doesn’t have an official name yet or confirmed length but will pass right next to El Guamúchil.In addition, the progress at the Las Truchas bridge continues, an infrastructure of 300 meters long and 75 meters high that will connect Las Varas with Compostela, Nayarit. Once the construction of approximately 179 kilometers comprising this road is completed, which includes the Jala – Compostela (54 km), Compostela – Las Varas (39 km) and Las Varas – Banderas Bay (86 km) sections; Puerto Vallarta and Guadalajara will be a short 2 and a half hours drive away.”
Sources: https://vallartalifestyles.com/gdl-pv-highway-could-be-ready-this-year/ https://blog.rivieranayarit.com/2021/01/openings-2021-five-new-hotels-opening-this-year-in-the-riviera-nayarit/
So, what’s Next? What else is in the works?
Costa Canuva the “Jewel of the Pacific” Costa Canuva is a 1.8 Billion Dollar project spread over 659 Acres (267 Hectares) of Prime Real Estate; 4.35 miles (7km) of Coast Line which will include:
An 18 hole World Class Golf Course Designed by Greg Norman & Lorena Ochoa, 7,000 Rooms, 13,000 SqFt of Willow Stream Spa, a 22,000 SqFt convention Center, Six Michelin Restaurants, Canopy Park with Zip Lines, 2,500 Residential Units and 4 exclusive Luxury Resortsv(Ritz Carlton Reserve Riviera; Fairmont Hotel & Resorts; One & Only Mandarina; and the Rosewood Resort Hotel & Spa.9)
The project is being funded through a Joint Venture between FONATUR (Mexico’s National Investment Fund for Tourism Development; founded in 1974) and Portugal based Construction Mogul Mota-Engil Tourismo. The project is said to produce over 8,500 direct jobs and 18,000 indirectly.
For matters pertaining to real estate in Puerto Vallarta, or real estate in Bahia de Banderas, property management, buying houses in Puerto Vallarta, buying condos in Puerto Vallarta or the surrounding areas Mexpat Realtors in Puerto Vallarta is a great resource call them or go to their website www.mexpatrealtors.com for more information
Source: https://www.forbes.com.mx/
