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Developer Hopes to Make a New Resort Market in Mexico

PLAYA VISTA, MEXICO-Realty Opportunities International Mexico is in the infrastructure phase for a 3,000-acre destination resort community here. Called Sands of Gold Estates, the project is expected to cost between $400 million and $600 million and be built out over the next five to seven years.

By Brian K. Miller | Updated on August 23, 2005

PLAYA VISTA, MEXICO-A new 3,000-acre destination resort community is being planned for Playa Ventura, a seaside village located two hours south of Acapulco. The developer of the estimated $500-million project is Francis Sanchez, a dual U.S and Mexican citizen who is the chief executive of Realty Opportunities International Mexico, an affiliate of InvestForeclosures Ventures of Chicago. This is the company’s first international project.

The current vision for Sands of Gold Estates calls for at least one five-star destination hotel, an 18-hole signature championship golf course, single-family lots, homes, oceanfront villas, ocean view villas, cottages and condominiums, all with modern technology and security features. Other planned amenities include a retail center, country club, nature walk, picnic pavilion, a marina and green space.

ROI’s business development executive Dan Fitzgerald tells GlobeSt.com that Sanchez acquired the land for the project from the Ventura family, which he says owns most of town and surrounding property. He adds that infrastructure work is currently under way and will take more than a year to complete.

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