Colombia’s leading newspaper, El Tiempo, has reported that the multinational innovation company in charge of developing crystalline lagoons, Crystal Lagoons®, has signed two contracts in the country, and is in advanced stages of negotiation for eight additional contracts.
The firm seeks to complete a total of ten projects, both real estate projects and Public Access Lagoons™, also known as PAL™, in a number of areas of Colombia.
The two recently signed contracts are to develop projects in the proximity of Cartagena de Indias. In addition, there are a further eight projects currently under evaluation by renowned investment funds and local real estate firms.
The projects would be developed on the outskirts of Bogotá and in cities such as Cali, Medellín, Barranquilla, Cartagena, among others.
The real estate developments offered by the company are mainly in private residential developments. As for hybrids, they incorporate private and public areas, while the PAL can be accessed by anyone via ticketed entry.
What anchors real estate, hybrid and PAL projects is a large lagoon powered by Crystal Lagoons pioneering technology, suitable for both swimming and water sports, and their surrounding white sand beaches.
“Colombia is a market with great potential for Crystal Lagoons due to its climate, its population, among other factors. These projects will change the lives of millions of Colombians by bringing a piece of the ocean just steps away from their homes,” explains Felipe Baldwin, Global Business Director at Crystal Lagoons.
Similarly, he added, these projects quickly generate profits. “Colombian investors have recognized that these developments are a new long-term investment alternative, with return rates of over 50%, making them of low investment and limited risk,” concludes Baldwin.
The multinational already has a portfolio of 87 projects throughout the Americas and is in advanced negotiations in South Africa, Australia, the Middle East and various countries across Europe.