Crystal Lagoons® Looks Towards Morocco for PAL™ Expansion12/11/2020
Crystal Lagoons® is in advanced negotiations with investment funds, family offices and prominent real estate developers to finalize a master agreement to develop Public Access Lagoons™ projects, also known as PAL™, in several cities across Morocco.
Master agreements assign developer a specific number of PAL for different geographical territories. In Morocco, cities such as Marrakech, Casablanca, Rabat, Tangier, Fez and Saidia have been identified as ideal locations for these projects which bring beach life to people’s doorstep.
Across the African continent, the firm already totals 29 real estate projects anchored by these unique water amenities in different stages of development,” explains Francisco Matte, Regional Director at Crystal Lagoons.
These amenities are monumental crystalline lagoons suitable for swimming and water sports, surrounded by tropical beaches, which can be accessed via ticketed-entry.
Additionally, thanks to a new technology created by Crystal Lagoons, known as Hot Reef™, the bathing areas are maintained at 28°C, at a low cost and in a sustainable way, offering optimal conditions throughout the year, similar to tropical seas. This ensures the lagoons can be used for longer periods of time.
Robust business model
“PAL have become the business of the future, and we have seen investors moving forward, interested by their previously unseen returns, long-term project security and limited risk, as have proven to be robust Covid & Amazon-proof,” says Francisco Matte.
Also, as these projects are constructed, they generate a financial pyramid, allowing companies to achieve a very high present value, despite a low initial investment.
Additionally, the company is negotiating various master agreements for PAL projects, in Botswana, South Africa, Ghana, Kenya, Nigeria, Angola and Egypt.
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