Crystal Lagoons will buy land plots in the U.S. to build up public access lagoons
The business model is different to the current one, in which the company partners with real estate developers, providing technology in exchange for a percentage of the project sales.
The first plans of Crystal Lagoons for the U.S. came to light in 2010. Back then Fernando Fischmann’s firm was evaluating going public in the Nasdaq stock market. Those intentions never materialized. However, the company that began with San Alfonso del Mar today develops man-made lagoons worldwide, and reports explosive growth in that country.
The company started operations in the U.S. back in 2014, after the signing of the “Epperson” project in Tampa, Florida, in partnership with Metro Development Group. It now has four offices in the nation (Miami, Los Angeles, Dallas and Cleveland), totalling 21 projects linked to real estate investment –of its partners- representing $10.5 billion. The number of projects triples the figures the company reported two years ago.
Likewise, the company is negotiating another 110 projects –in different stages- linked to $53.4 billion of real estate investment by third parties.
Crystal Lagoons is looking for more in the U.S. and the idea of the company is to keep growing with its own projects. This is especially relevant given that their business plan for that country forecasts over a thousand public access lagoon projects.
“This is an area of such great potential that Crystal Lagoons decided to set a side company that would buy land plots for the development of Public Access Lagoons (PAL) in the U.S.” says Kevin P. Morgan, Executive Vice President Crystal Lagoons US Corp.
These initiatives would be erected around places of commercial and entertainment interest, parks, among others. Funding will come from admission tickets. This is a different business model to the one traditionally adopted by the company, which consists of partnering with real estate developers, providing their concept and technology in exchange of percentages of the project sales (hotels, houses, malls).
Out of the 21 projects in development by Crystal Lagoons in the U.S., 19 are part of real estate and two are PAL. Meanwhile, out of the 110 initiatives in negotiation, 60% of them are PAL.
The U.S. and the Middle East are the two major markets for Crystal Lagoons.
When asked about requirements that they have had to comply under different governments in the U.S., Kevin P. Morgan stated “Even though in the U.S. regulations are very demanding, governments tend to promote innovation, and because of that we have had an excellent experience and we have been able to develop our projects at ease”.
Crystal Lagoons is an international innovation company, founded by scientist Fernando Fischmann, which has developed a patent-protected technology that allows the construction and maintenance of unlimited-size crystalline lagoons at very low costs.