Peruvian Finance Newspaper Features Crystal Lagoons® Expansion in Peru04/30/2020
Up to 20 crystalline water lagoons could be built in Peru as of 2021. According to an article by Gestion.pe, the country’s leading financial newspaper, the Miami-based multinational Crystal Lagoons® will be expanding in the Latin American country with several projects in the pipeline.
Crystal Lagoons plans between 15 and 20 manmade lagoons to be built in different cities of Peru over the course of the next 10 years, is currently in negotiations with two real estate developers, explained Cristián Lehuedé, executive director at the multinational, during a recent interview with Gestion.pe.
Public Access Lagoons™ can be accessed via ticketed entry that, on average, could cost between US $10 and US $15, according to estimates made based on the experience of this business model applied in other Latin American cities.
Crystal Lagoons provides the technology for the development of large manmade crystalline lagoons with white sand beaches, which are built in association with companies typically connected to the real estate or leisure industries.
Unlike pools or other artificial lagoons, the technology used to power Crystal Lagoons amenities allows much larger bodies of water to be built and maintained in crystalline condition without incurring in excessive costs, Lehuedé added.
Peru already has two such lagoons powered with this unique technology, although they do not offer public access. They are found in the multifamily developments known as La Jolla de Asia (Lima) and Hacienda La Joya (Arequipa) and can only be enjoyed by residents and homeowners. This was the company’s original business model: providing the technology for the construction of lagoons in real estate projects, which in turn ensures the developments added value.
However, the firm is now aiming to bring Peru its new business model, known as Public Access Lagoons, which can be accessed by the general public via ticketed entry. Likewise, they are surrounded by several services and amenities: facilities, beach area, retail premises, etc. “Our goal is to generate a very interesting and attractive hub for the cities in which these lagoons are located,” detailed Lehuedé.
Company estimates indicate that Peru has the capacity to build 15 or 20 Public Access Lagoons, considering its climate, population, and the touristic areas it already has to offer. The lagoons would average between 5 and 7,5 acres.
At least four of the amenities would be developed in Lima, another four in Arequipa, while the remaining lagoons would be divided up between Tacna, Piura, Trujillo and Ica.
“We provide the technology. The development of these lagoons requires an alliance with a company that can build, operate, and take care of their maintenance, while managing the leasing of the businesses that are located around the lagoon as well as security, etc. We are looking for an exclusive partner to oversee investment in these projects in Peru,” added Lehuedé.
The company is currently in “relatively advanced conversations” with two real estate developers, however, these negotiations have been delayed due to the difficulties associated with the quarantine the country is undergoing to mitigate contagion due to coronavirus. The construction of each lagoon would require an investment ranging between US $10 million and US $15 million.
“We hope that when this happens, our estimates indicate that could be next year, we will be signing a contract with one of them and after that it would take us a further two years to have the first Public Access Lagoon built (…). I think that once this stage of social distancing has passed, people will be very eager to go out and socialize on weekends in a beautiful setting that is close to their town. And that is what we aim to provide,” he said.
Lehuedé also noted that the company has signed a further eight projects with real estate developers for the construction of private lagoons, which are currently in the planning stage. “These are projects that normally take a long time and could certainly take a little longer due to current quarantine restrictions,” he added.
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