Press Announces Advanced PAL™ Negotiations in Morocco
Medias24, a reputed business and finance media outlet in Morocco, has reported on Crystal Lagoons expansion in the region, announcing that the multinational innovation firm is currently in advanced negotiations in the country. The following is an extract from the interview with Francisco Matte, Regional Director for Crystal Lagoons.
Has Crystal Lagoons previously built man-made lagoons in Morocco?
Crystal Lagoons is in advanced conversations with investment funds, family offices and large real estate developers to finalize a master agreement to develop the new Crystal Lagoons® revolution, the Public Access Lagoons™ projects, also known as PAL™.
Master agreements involve a relevant number of PAL for different geographical territories. In Morocco, cities such as Marrakech, Casablanca, Rabat, Tangier, Fez and Saidia are some of the locations that we have identified where these projects could be developed.
Public Access Lagoons projects are the new corporate development by Crystal Lagoons that, after revolutionizing the real estate sector for 10 years, is now revolutionizing cities with PAL projects.
These are monumental crystalline lagoons suitable for swimming and water sports, surrounded by beaches, which can be accessed via ticketed-entry. Additionally, thanks to a new technology created by Crystal Lagoons, 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.
Also, as these projects are built, they generate a financial pyramid. With a low initial investment, a company can achieve a very high present value.
Additionally, we are negotiating various master agreements for PAL projects, in Botswana, South Africa, Ghana, Kenya, Nigeria, Angola and Egypt.
Where does Crystal Lagoons currently have projects in Africa?
In Africa, Crystal Lagoons totals 29 real estate projects anchored by crystalline lagoons. This includes projects in different stages of development.
The most important market is Egypt, with 22 projects in different stages. In fact, the largest crystalline lagoon in the world (12.5 hectares) is in the Egyptian resort of Sharm El Sheikh. Swan Lake North Coast 2 was recently inaugurated and in the coming months Bo Island, Fouka Bay, Azha and Porto Golf.
The second most important market is South Africa. There the partnership with real estate developers, Balwin Properties, has been one of the most fruitful business alliances in the country with five real estate projects in different stages. The most recent is Munyaka, an ultra-luxurious complex, close to Johannesburg, has been praised by the President of the Republic for its infrastructure and urban contribution. Renowned for its commercial performance, with 555 units sold at the launch of the project. The same trend has been registered in other real estate developments anchored by lagoons by Crystal Lagoons, including The Blyde in Pretoria, with record daily sales benefiting Balwin Properties’ global results.