Miami-based water innovation firm, Crystal Lagoons®, has been featured in Arabian Business, a local industry media outlet in the Gulf region. The publication highlights how the firm is currently in ongoing conversations with Middle East investors to expand its global portfolio of Public Access Lagoons™, also known as PAL™, bringing them to the region.
The company, which totals 22 real estate projects in the region, all anchored by crystalline lagoons including District One, in Dubai and Citystars Sharm ElSheik, Egypt, is looking to expand its portfolio of PAL, which can be accessed via ticketed-entry.
The firm’s Regional Director, Alastair Sinclair, said the firm is negotiating with Middle Eastern investors and foreign funds, adding that interest in PAL has transformed these amenities into the meeting point of the 21st century, following their success in Japan and the U.S., particularly in Texas and Florida, with each project generating US $50,000 in daily ticket revenues.
The company offers different investment models that include tailored infrastructure options, with the most complete investment option including areas for road shows, food halls, weddings and concerts in multiple set-ups such as beaches, terraces, domes, as well as an array of gastronomic offerings, retail and amphitheaters.
Key master agreements for PAL have already been signed in Korea, Pakistan and Central America.
“Investors envisage that, as these projects are built, they generate a financial pyramid. Despite a low initial investment, a company can achieve a very high present value,” said Alastair Sinclair.
“The hotel industry has identified an increase in value in rates and food and beverage consumption up to 200 percent when hotels include a beach, compared to hotels inland. Investors have corroborated that, on lower-value land, a hotel combining a beach and PAL elements can benefit from very attractive returns,” he added.
He said the multinational is negotiating 19 developments in countries such as Saudi Arabia, the U.A.E., Qatar, Kuwait, Bahrein and Oman.