Comments



Costa Maya, Mexico Real Estate Investment | Add Comment

    • FONATUR backs away from Costa Mata 4/24/2008
    A couple of weeks ago it was announced that FONATUR is canceling the 400 million pesos contribution that it had previously allocated for the Costa Maya. A FONATUR spokesperson says the reason for the suspension of funds to the Costa Maya project has to do with the General Law on Wildlife and Wetlands/Mangrove Protection which was passed in 2007 and supports the North American Wetland's Conservation Act of 1999. According to Costa Maya insiders, FONATUR’s decision is a big setback for the Costa Maya development community, especially in light of the recent destruction by Hurricane Dean. FONATUR reportedly does intend to finish Costa Maya projects that have already been funded, such as the Mahahual malecon project. The governor of Quintana Roo says the state will still put money into the area and development there will move forward even without the funding, but that progress may just take longer.

    Login

    We require registration to leave comments. This helps us provide a better discussion by limiting comment spam. If you are already registered, you can sign in using the log in below. If you are not registered, you can .

    Need a login?  Forgot password?