What has been the increase in value of land in CanCun?
In 1977, the North end of CanCun was the only section where there were resorts, except for Club Med, which was allowed to build on the far away Punta Nizuc tip, as part of the strategy for developing CanCun. Land was practically given away by Fonatur, on the condition that it would be built up. In 1983, the land where the Royal Mayan and Caribbean and Islander now stand was bought for much more… $4.00 per square meter! Again, a gift from Fonatur, on condition that the land should be developed in a certain time. Now the Royal Sands is being built on land that is valued at about $600 per square meter, (in 1997, and going UP) and it was only available by a minor miracle, ie, the President of Mexico decided that the Presidential Villa in CanCun should be sold! There is no more beach front property in CanCun without an owner anymore. If anybody wants to build a new hotel, they have to build it up to one hour driving South, towards Tulum… Akumal, Playa del Carmen, etc… I understand peo
