Crystal Lagoons signs its largest contract in Latin America to develop 13 projects in Colombia11/29/2021
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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