Puerto Vallarta Real Estate; $500 Million Development Moves Ahead

“ Libitu, a development in the Puerto Vallarta Real Estate area, has just made two major advances in the completion of its water system infrastructure, allowing for more rapid advancement, creating more opportunities sooner for home and condo buyers. ”

Share on            

Email Friend     Contact Author

(iRealtyWire.Org) – In a recent visit to the Riviera Nayarit, the President of Mexico, Felipe Calderon, officially opened two main infrastructure projects in Libitu, one of Puerto Vallarta Real Estate 's key new developments. The development, which includes large scale hotel and condo projects, provides excellent real estate opportunities for Mexico Condo buyers, and lots for buyers intending to build a Mexico Home.

"We are always excited to see new developments progress," says Thomas Lloyd, president of TOPMexicoRealEstate.com, "offering real estate buyers further incentive to buy incentives buy in Puerto Vallarta with confidence."

The recently completed infrastructure consists of a waste water treatment plant, which currently has a capacity of 20 liters per second, and a saltwater treatment plant with a capacity of 40 liters per second, which converts salt water, producing 40% drinkable water, and 60% returning to the sea. Both plants are designed to achieve a total capacity of up to 120 liters per second each. Litibu's water infrastructure and services, both drinking water and sanitation, are now at a point where the project can accelerate its complete development and individuals will be presented with further options to invest in condos.

"I'm glad that here in Litibu," commented President Calderon in his speech, "we are thinking not only of the current the development, but those that will come in the future. This treatment will allow us to use water from the sea treated with special techniques, that promotes development and does not harm nature."

Litibu represents a total investment to date by the Federal Government of around $60 million US, in addition to private investment estimated at $500 million US during the various phases of the project. The infrastructure of Litibú is a strong point in attracting continued investment from hotel and condominium developments, as well as individual investment in pre-construction real estate. With developments such as this one, the area has seen healthy economic growth and comprehensive regional development.

The project has already sold more than 90 percent of hotel and condominium lots, and the federal ministry of tourism pointed out that this work also strengthens the confidence of domestic and foreign investors.

Luis Gabriel San Martin, Development Director of Mexico's National Fund for the Promotion of Tourism (FONATUR), noted that "by the year 2025 to 750 thousand tourists are expected annually, 60% and 40% foreign nationals."

In addition to well developed infrastructure, including a road network with lighting, drainage and water systems, the development boasts an 18 hole PGA golf course designed by Greg Norman, with an area of about 168 acres.

TOPMexicoRealEstate NETWORK; Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely