In March 2021, the real estate agency SB Realtors formally began its work as a master broker of Distrito Coral, an exclusive condominium located on María Montessori Street in the Palmar de Aramara neighborhood, in the dynamic North Hotel Zone of Puerto Vallarta. Just 14 short months later, they announce that they have successfully completed their sales stage for all condos.
Currently in the last phase of construction, this modern development is composed of 72 units distributed throughout three towers of six housing levels each. Of these, 60 are two bedrooms and 12 are penthouses. The apartments have private balconies and offer views either towards the common areas of the development or towards the mountains of the Sierra Madre Occidental.
The delivery of the first completed apartments is scheduled for the fourth quarter of 2022. With that, the Vallarta Real Estate Guide editorial team took the opportunity to talk with Marie Connelly, project leader of Distrito Coral and Eduardo Gómez Topete, director of the Distrito Coral project, who kindly shared a variety of details about the challenges they overcame during the sales stage, as well as some factors that they believe have kept the destination’s real estate industry dynamic.
Sales Stage Completed
“Distrito Coral is designed with both permanent residents of the destination and visitors who reside temporarily in mind. It is a development that, since its conception, has been developed with the highest quality construction and material standards,” explains Gómez Topete.
“We are very happy and satisfied with the work done and completion of the commercialization of Distrito Coral. Although one of the highest peaks of the health contingency occurred a few months after we assumed control of sales, our work remained constant and efficient during that stage of uncertainty for everyone, and we were able to complete the sales process,” adds Connelly.
Marketed by SB Realtors, Distrito Coral was developed by DMBTA, a company based in Guadalajara, Jalisco. With more than 30 years of experience in the construction industry, Del Muro Construcciones is the executing arm of this company, and it is comprised of a group of investors who are determined to grow a large portfolio of condominium developments.
North Hotel Zone
“Distrito Coral is located in a privileged place in Puerto Vallarta. The new owners can have the total peace of mind that they have purchased an excellent condominium to inhabit. In addition, in the short term, they will enjoy a fully developed area, which will increase the surplus value of this investment,” adds Gómez Topete.
To illustrate this point, Connelly mentions that Distrito Coral has several amenities in the vicinity, such as beach less than one-half mile away (800 meters), a variety of shopping centers, hospitals and various gastronomic and entertainment options, including restaurants, hotels, bars, cafes, gourmet shops, boutiques, organic markets and nightclubs, among others.
“Thanks to the strategies we implemented and taking into account that in just 14 months we completed the sale of all of the 72 units that make up this development, we can say that we had a monthly absorption of 7 percent. In other words, a little more than five units were placed every 30 days,” says Connelly.
“The concept of Distrito Coral allows its residents to access quality homes with luxury finishes and high-quality public spaces without having to cover the extra cost of a property located in front of the beach,” adds Gómez Topete.
Distrito Coral established a new focus on marketing. The commercialization focused on this project being an excellent choice for Mexicans relocating to the coast part- or full-time looking for modern units and conveniently located (close to the best entertainment options the destination has to offer).
Before ending this brief conversation, Marie Connelly took the opportunity to thank each of the people who trusted both the amenities and attributes of Distrito Coral and SB Realtors: “We appreciate the trust of the developers of this project, and their desire to join forces and contribute to its success. We are very happy and satisfied to have completed this stage of sales.”