Shark Tower Rises in Puerto CancúnBy Lorenzo Núñez | Fri, 06/11/2021 - 15:41
Q: What makes Puerto Cancún stand out as a tourism destination?
A: Puerto Cancún is a project that expands over 350ha and has become an important zone, mainly due to the various types of projects in the area. These include residential, mixed and commercial zones.
The residential zone provides high capital gains. The main selling point is the new channels that were created to bring in sea water. Residents can use these channels as a mean of transportation, which is unique in Mexico. The mixed zone also has these same channels, and some apartment buildings even have their own boats. In the commercial zone, there is a wide range of restaurants that are accessible from the channel.
Luximia is a real estate development company that focus on projects, mostly luxury apartment buildings, that deliver high capital gains. We already have three projects in Puerto Cancún that have been completed and a fourth is under development. Our Shark Tower development is already known across the country for its iconic fin shape.
Q: What are some challenges to premium real estate in Mexico?
A: Unfortunately, the mistreatment of clients by other real estate companies has tarnished the reputation of the premium real estate business in Mexico. These companies fail to deliver on time and sometimes do not deliver what they promised. Our recommendation to potential clients looking to make AAA purchases is to do some research prior to the presale period. It is important to know who you are dealing with to protect your investment. I believe this is the future of this industry. Clients will have to do some prior research before their purchase, and this industry must become more consistent with delivery times and in keeping promises for it to continue to develop.
Q: How did the pandemic impact the premium real estate market?
A: It is important to highlight that the fracture relationship between the client and seller in the AAA market was not caused by the pandemic. At least, that is not how I see it. In fact, the market itself has remained interested in AAA projects, despite the global pandemic. The pandemic, however, showed us that if a company has had some past troubles with a client and does not work to regain that client’s trust, the company will disappear. To put it bluntly, the pandemic cleansed the market.
Q: How did the design of Shark Tower evolve?
A: Luximia has had a history of developing successful premium real estate projects in Cancun. When looking at the land we had bought in Puerto Cancún, we really did not know what types of projects we could develop there – we just knew we wanted to create something different.
We started exploring some ideas. Members of the team and myself love the ocean. We started looking for a collaboration with Philippe Starck, and the name Shark Tower came to mind as a play on the words “Shark by Starck.” While Starck was unable to continue working on the project, Shark stuck. The word “shark” led to the building’s concept as a shark fin. We wanted the building to serve as a monument to the animal, which, unfortunately, has been stigmatized by Hollywood. We worked heavily with the design, and it turned out pretty well.
Q: What impact did the pandemic have on the construction of Shark Tower and what measures did you implement to adapt to this situation?
A: Fortunately, we were not heavily affected by the pandemic during the construction of Shark Tower although the government’s health protocols reduced the manpower available to continue with the original construction schedule. The situation slowed the rhythm of construction, but this happened in every single industry. Regarding sales, there were some months where everything was halted. This situation occurred during the harshest period of the pandemic, when everybody was locked inside their homes. Overall, though, we were only affected by time. Luximia is a solid company and we were able to absorb the sales hit.
Q: What is Luximia’s strategy for its real estate projects?
A: We formulate the project plan before construction begins. We determine potential buyers so we can tailor our products to suit their requirements. Through a smart-marketing system, we then begin the presale of the project. We rely heavily on our previous projects’ success stories and we count on those to attract potential clients. This strategy has been a definite success.
Luximia, the builder behind Shark Tower, redefines modern architecture for the next generations. It has created a modern architecture movement based on more than 30 years’ experience in the construction, design and development industry.