Crystal Lagoons signs its largest contract in Latin America to develop 13 projects in Colombia

Crystal Lagoons, the innovation multinational that develops large crystalline lagoons, continues to boost its growth in the region. Recently, it signed one of the largest contracts that includes 13 new projects in Colombia, which will help consolidate two emblematic tourist destinations: Eje Cafetero and the Colombian Caribbean.

This mega agreement is also signed with AED Constructores and arises after the success of Crystal Lagoons’ first real estate development in the country, Baia Kristal, located in Cartagena de Indias.

The new complexes are added to the 197 that the company has in Latin America, in different stages of development, and will be carried out in the cities of Barranquilla, Santa Marta, Pereira and Cartagena de Indias. In the latter port city, a 200-hectare megaproject, which will house the first Public Access Lagoons ™ development, (PAL ™ projects), in Colombia and nine private real estate projects, each with a 3-hectare navigable lagoon, similar to Baia Kristal.

Unlike private lagoons projects, the PAL™ developments are open to the public for a fee, allowing anyone access to this idyllic beach experience. Additionally, around the lagoon, there are commercial facilities for holding conventions, product launches, food halls, weddings, hotels, shops, restaurants, multiple stages for concerts, outdoor terraces, domes and amphitheaters.

“Baia Kristal’s unprecedented business opportunities were planned to be sold within three years, but ended up being sold in less than 12 months. This demonstrates that, contrary to what you might think, these crystal-clear lagoons can be successful anywhere in the world, in tourist spots as well as in coastal cities. This is what led AED Constructores to extend its partnership with Crystal Lagoons to develop 13 more lagoons,” said Jean Pierre Juanchich, Crystal Lagoons’ Regional Director for Latin America and the Caribbean.

In addition to this public access project in Cartagena, Crystal Lagoons will develop two more PAL™ complexes, one of which will be located in Pereira, the most populated city in the Eje Cafetero region. Despite being located almost 200 kilometers from the ocean, residents of Pereira will finally be able to enjoy a beach experience. The complex will include all of the infrastructure of the PAL™ model, enabling it to become in the meeting point in the city.

In Barranquilla, the main economic center in the Colombian Caribbean region, the project will the combine PAL™ model with private residential areas for first dwelling.

In Santa Marta, which is also located on the Colombian Caribbean coast and is the country’s oldest standing city, Crystal Lagoons will develop a residential project focused primarily on Colombians living abroad who are looking for a second home in their country.

These 13 new projects come as an addition to facilities already being developed in Colombia, which include Baia Kristal and another hotel development.

“Colombia is a market with great potential for Crystal Lagoons due to its climate, population and other factors. These projects will change the lives of millions of Colombians by bringing a Caribbean-like experience to their doorsteps,” said Juanchich.

The PAL™ model has attracted the interest worldwide. Some of the company’s biggest contracts are in the United States (16 PAL™ developments in partnership with Epic and Mattel and five with ADËLON in Orlando), Korea (30 PAL™ projects in partnership with Hyundai-NexPlan), Pakistan (15 PAL™ developments in partnership with Ary Group) and Central America (18 PAL™ developments together with successful entrepreneurs in the region).

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Crystal Lagoons started 2024 on a high note. The multinational announced a new contract that enhances its presence in this country, the primary market for the firm in the Middle East and North Africa (MENA) region.

The new real estate project is Azha North Lagoon, a second home complex located on the North Coast, in partnership with Madaar Development, a firm with which Crystal Lagoons has already developed the successful project Azha Ain Sokhna on the Red Sea. The new project will be in Ras Al Hikma, an area of great tourist and holiday success. It is on the front line with a 27-acre lagoon.

In Egypt, Crystal Lagoons has projects in different stages of development and operation, mainly located on the North Coast and along the Red Sea. Also in this country, the multinational has advanced negotiations to enter Cairo with its Public Access Lagoons™ complexes, also known as PAL™, which will revolutionize the lifestyle in Egypt’s cities, bringing beach life to the doorstep of homes and accessible to anyone through the payment of a ticket.

These crystalline lagoons are an attractive real estate amenity in Egypt. Among the multinational’s business partners in Egypt are recognized managers such as Tatweer Misr, Hassan Allam Properties, Golden Pyramids Plaza, and Madaar Development, among others. Likewise, Egypt is the second largest crystalline lagoon in the world at the Citystars Sharm El Sheikh project, with 28 acres in the middle of the desert.

“In Egypt, Crystal Lagoons® technology is recognized as the only one capable of developing crystalline lagoons at low construction and maintenance costs,” explains Miguel Ángel Cabañas, regional director of Crystal Lagoons.

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With new developments in Buenos Aires (Openn Pilar), Rosario (Vida Lagoon y Distrito Cero), and Mar del Plata (Developer Aqua), Argentina has consolidated its position as Crystal Lagoons’ main market in South America after Chile.  In addition to these complexes, there are others in association with essential local real estate managers such as Castex, Morvial, Arkken Group, Rossetti Desarrollos Urbanos, Grupo Monarca, Grupo Developer, DLM, Galp Inversiones and Vizora in Gran Buenos Aires, Córdoba and Pinamar. The projects Terralagos, Lagoon Pilar, Acquavista, and Remeros Beach, among others, stand out.

All Crystal Lagoons developments in Argentina have become sales successes. Remeros Beach sold over half of its sites within the first two months, while Terralagos sold more than 1,000 lots, exhausted apartments in record time, and has a waiting list for the next building to be launched, both projects in Buenos Aires. In Mar del Plata, Developer Aqua sold one-third of the project on the first day of commercial launch, tripling the price per square meter.

“In Argentina, beyond the different economic situations, the success of Crystal Lagoons does not stop. Projects incorporating lagoons generate exponential added value in the real estate sector. The projection is even more positive because an increase in foreign investment is expected in the coming months, which will further boost the real estate market”, explains Francisco Matte, Crystal Lagoons’ regional director for Latin America.

One of the keys to the multinational’s success in Argentina is the beachside lifestyle of its residents who, thanks to the crystalline lagoons, can enjoy turquoise waters just steps from their homes without the need to take a plane, even in inland areas such as Córdoba and Rosario and in a renowned resort town like Mar del Plata.

Crystal Lagoons also has advanced negotiations in Argentina to develop Public Access Lagoons™, also known as PAL™ projects. These complexes, accessible to anyone by paying a ticket, feature large crystalline lagoons and white sand beaches surrounded by attractive amenities such as restaurants, beach clubs, retail outlets, theaters, and cultural activities.

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Crystalline lagoons, powered by Crystal Lagoons® technology, have redefined the global real estate market paradigm. Once again, a leading economic media outlet, Forbes, acknowledges the impact of this amenity, highlighting it as a key driver of sales across the board. Particularly notable is the case of Colombia, where crystalline lagoons have been a fundamental factor in the commercial success of real estate projects. An eloquent example of this phenomenon is the commercial success of the construction company Arquitectura y Concreto. Crystal Lagoons has been a determining factor in the 70% increase in its sales, even in a challenging real estate context facing a 45% decline.

“It sounds unbelievable, but that’s how it happened,” said Francisco Martínez, president of Arquitectura y Concreto, in an interview with Forbes Colombia, attributing the meteoric increase in sales to the innovation of Crystal Lagoons. The executive highlights the success of Crystal Lagoons projects with AED, including Baia Kristal in Cartagena de Indias, the best-selling project in Colombia, reflecting the multinational phenomenon in that market. In fact, with its 3.2 hectares of crystal-clear waters and white sands, it was initially projected to be sold within three years, but it ended up being commercialized in less than 12 months, positioning itself as the #1 project in sales in the country since its launch.

This success led AED to finalize a master agreement with Crystal Lagoons to develop 13 projects with crystalline lagoons in the Colombian Caribbean and the Coffee Region, including cities such as Barranquilla, Santa Marta, Pereira, and Cartagena de Indias.

Azul de Arenas is part of this agreement and marks Crystal Lagoons’ entry into Latin American retail as part of the Colombian Caribbean’s largest shopping and entertainment center. The project’s centerpiece in Cartagena de Indias will be a 3-hectare crystalline lagoon suitable for swimming and water sports.

Forbes