Laying the Cornerstone of Costa Canuva in Riviera Nayarit

The development located in Riviera Nayarit will have more than 1,600 residential units.

A few weeks ago, the cornerstone ceremony was held for Costa Canuva, the new real estate development and resort in Compostela, Nayarit. The event was led by Roberto Sandoval, governor of Nayarit; Rafael Lang, general director of Mota-Engil Turismo; Miguel Alonso Reyes, general director of the Fondo Nacional de Fomento al Turismo (FONATUR), the National Fund for Tourism Promotion; and Alicia Monroy, mayor of Compostela.

The event also attracted various officials from the three levels of government and special guests from both the real estate and tourism industries.

The project will be built on 225 hectares, about 556 acres, including seven kilometers, nearly four miles, of virgin coast north of Punta de Mita. The master plan features more than 1,600 residential units, five luxury hotels, including a Fairmont resort, shopping plazas, a beach club and a PGA golf course (designed jointly by former golfers Lorena Ochoa and Greg Norman).

Costa Canuva will involve an estimated investment of almost $1.8 billion USD and is expected to generate 6,000 direct jobs and 18,000 indirect jobs for Nayarit. Thanks to the destination’s national and international position, Portuguese company Mota-Engil Turismo chose this area over 22 other options around the world. Its capital injection will be $36 billion pesos.

“These types of projects are clear and convincing evidence that Mexico remains one of the best countries for both domestic and foreign investors. Mota-Engil believes in Mexico, in Nayarit and in what Costa Canuva means for the development of the destination.” —Rafael Lang, general director of Mota-Engil Turismo.