May 21, 2007

Spanish company set to invest almost $5 Billion US dollars in Loreto resort

Forbes ( reports that a company based in Spain is set to invest 3.69 billion Euros ($4.97 billion US dollars) in a new resort in Loreto:

Fadesa to invest over 4.0 bln eur in tourist projects in Mexico - report 5/21/2007, Link

MADRID (Thomson Financial) - Fadesa Inmobiliaria SA plans to invest over 4 bln eur in four new luxury tourist projects in Mexico, El Economista reported, citing unnamed company sources.

According to El Economista, the largest of the four projects is a 3.695 bln eur investment in a resort in Loreto, Baja California, with a 7,000-room five star hotel and 6,500 luxury residences.

Wow, 7,000 rooms in a 5-start hotel AND 6,500 luxury residences! I wonder where the resort will be located and what the "luxury residences" will look like.

Posted by emmanuel at May 21, 2007 2:00 PM
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