Peruvian Finance Newspaper Features Crystal Lagoons® Expansion in Peru

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.

Gestion.pe

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Ascensions on Lake Travis marks the latest Public Access Lagoons® venture signed by Crystal Lagoons in Texas, adding to the multinational innovation company’s array of complexes across the state. 

The project’s standout feature is a sprawling 2.1-acre crystalline lagoon suitable for swimming and water sports. The lagoon will be the centerpiece of a high-end hotel development, solidifying the foothold of Crystal Lagoons in the hospitality industry. Notably, it will be the first Public Access Lagoons® project—also known as PAL® developmentsin Austin, promising a completely new and unique entertainment offering accessible to all through ticketed entry.

Located in Spicewood, a mere 45 minutes northwest of Austin, this development, in partnership with Austin Real Estate Ventures, promises more than just pristine beaches. Luxury residential units, retail boutiques, restaurants, and bespoke services will complement the lagoon, epitomizing the quintessential PAL™ experience.

Crystal Lagoons® technology will not only bring beach life to this area of the Lone Star State but do so sustainably, alleviating the need for Spicewood residents to travel far for coastal recreation and thereby reducing the carbon footprint.

Derek Diaz, CEO of Austin Real Estate Ventures, affirms, “We’re thrilled to partner with Crystal Lagoons to curate the ultimate resort destination, bringing white sand beaches, vibrant blue water, and luscious palm trees to the most desirable location in the state, Lake Travis, in the heart of Texas Hill Country.”

“Every hotel project incorporating a Crystal Lagoons® amenity becomes the most attractive destination in the area. These bodies of water change the paradigm of vacation developments with world-class hotel and resort standards”, explains Iván Manzur, Senior Vice President of Sales at Crystal Lagoons US Corp.

The United States stands as the primary global market for Crystal Lagoons, with over 275 projects in various stages of development and negotiation. Texas, in particular, boasts over 70 complexes, including notable successes like Lago Mar, Balmoral, Windsong Ranch, Sunterra, and Sierra Vista, among others. 

The inauguration of Crystal Lagoons project in the United StatesEvermore Orlando Resort, featuring its impressive 8-acre crystalline lagoon and extensive beaches, steps from Disney World and Universal, has captured the attention of the global press. Nearly 500 media outlets from various countries, including Yahoo!Associated PressNBCFoxABCCBSWashington Daily NewsFinanzen y Benzinga, have covered the news, emphasizing the significance of this tourism milestone.

Since then, numerous articles have highlighted this iconic development, considered one of Florida’s most significant tourism projects. It is located in the heart of Orlando, the most visited destination in the US, with 75 million tourists annually. With over 10,000 rooms surrounding the lagoon powered by Crystal Lagoons® technology, this amenity marks a before and after for the city, which lacked a beach despite its comprehensive entertainment options. Crystal Lagoons solves this problem by introducing a monumental body of water that brings idyllic beach life, redefining hotel standards, and consolidating its presence in the hospitality and entertainment industry.

Surrounding the crystalline lagoon is Orlando’s first Conrad hotel, a luxury brand of the Hilton chain, as well as various homes, villas, and apartments. In addition, there is an 18-hole golf course designed by Jack Nicklaus, one of the greatest golfers in history.

“Every hotel project incorporating a Crystal Lagoons® amenity becomes the most attractive destination in the area. Conrad, one of the world’s leading hotel chains, understood this and decided to make a qualitative leap concerning the existing offer in the most touristic area of the U.S.,” said Iván Manzur, Senior Vice President of Sales of Crystal Lagoons US Corp.

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Around the world, the concept and technology of Crystal Lagoons® have become the leading sales attraction, positively impacting its commercial success. Despite the credit and real estate challenges in the current economic conditions, Crystal Lagoons projects continue to defy the market with very impressive sales figures, particularly in the United States. The rankings from real estate consulting firms RCLCO and John Burns on the best-selling master-planned communities once again demonstrated that crystalline lagoons are a powerful purchasing driver. SunterraMiradaWindsong Ranch, and Epperson secured prominent positions in 2023.

These projects ranked among the top 50 best-selling communitiesFlorida leads the ranking within the list, representing close to 40% of the sales for all top-ranked developments, followed by Texas with 37%. In both states, Crystal Lagoons has a significant presence.

In Texas, Sunterra stands out as a project that, even though the crystalline lagoon has not been built yet, serves as a commercial driver within the community, generating sales rates higher than the average, with a significant increase of 63% compared to 2022. This placed it 3rd nationally in both rankings, further boosting the strong performance of Houston, the top-selling metropolitan area in the country. Sunterra’s positive sales results had already been recorded in previous reports.

With the largest amenity powered by Crystal Lagoons® technology in the United States, Mirada in Florida, inaugurated in 2023, sets another record. With an 89% increase in sales, it ranks 17th. Its 15 acres of turquoise waters and white sandy beaches are a buying trigger.

Another notable project in Texas is Windsong Ranch, which has consistently set sales records, ranking 29th in the John Burns ranking. The project has also been nationally awarded as “Master Planned Community of the Year,” among other recognitions.

On the other hand, Epperson in Florida also ranked prominently in both studies, a commercial trend registered since its inauguration as a real estate project. The interest it generated was so significant that it had to be opened to the Public Access Lagoons™ model, also known as PAL™ developments.

The United States is the main operation of Crystal Lagoons worldwide, and it has more than 275 projects at different stages of development and negotiation. Among the most important are Mirada, Sole Mia, Balmoral, Windsong Ranch, Beachwalk, Southshore Bay, Aqua, among others. The recent joint venture to develop four Public Access Lagoons™ complexes, also known as PAL™, in Texas stands out and will add to the successful public access developments Epperson (Florida) and Lago Mar (Texas).

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