Mauricio Vales Casares
Director General
Komunah
/
View from the Top

Sustainable Community Fosters Real Estate Development

By Pedro Alcalá | Mon, 12/13/2021 - 16:05

Q: What led you to be part of Komunah?

A: The real estate sector has been changing at an accelerated pace over the last few years. The pandemic accentuated the need for adaptability to this constant change, it did not create it. You can appreciate this concept at a global level and in the Yucatan real estate market. The pandemic changed the real estate sector by modifying the needs of our clients. In the last two years, people have reevaluated the need for family time, leisure space and social ties, and this has had an impact on what people are looking for in residential and commercial real estate. In Yucatan, for instance, we are seeing a boom in Merida as well as other smaller, coastal cities. Demand is now becoming equal to supply, not just from local Yucatan residents but from national and international families as well. Consequently, the ROI for coastal properties in Yucatan has been increasing. Buyers are interested in these developments because they are integrated into their remote natural environments. For instance, clients want more green areas, public parks and other amenities where there is space for communal interaction.  

With all of this in mind, two years ago, we began to design Komunah in partnership with award-winning and renowned Yucatan architecture firm Lavalle + Peniche. From the beginning, we aimed to build a community instead of merely a development. We wanted to design a space that reflected this desire for communal living. This also attracted us to the San Crisanto beach community, which is one of the most beautiful in the entire state.

Q: How does the concept of community impact your approach to water and waste management infrastructure?

A: We expect to grow over the coming year and we want this growth to be sustainable so that we can guarantee our buyers their dream home. In this sense, we need infrastructure development to reach the highest standards of both sustainability and reliability, not only in terms of water and waste but also in electricity and road infrastructure. As part of this process, we will make sure that our compliance and permitting issues are managed appropriately at both the federal and state level. Road development began recently and it will be completed in July 2022. This is an essential step because it allows buyers to begin construction or lease their lots. Construction has begun in the San Crisanto area, along with nearby coastal towns, such as Telchac. We are building other apartments and homes nearby, developing the construction supply market and increasing the use of local materials, such as chukum, a resin extracted from the Havardia Albicans tree that is native to the Yucatan peninsula.

Q: What are the ideal buyer profiles you would like to see in Komunah?

A: We are looking for national and international clients. Especially those who spend a great deal of time traveling and who enjoy taking weekend getaways. We are also looking for buyers interested in vacation rentals and Airbnb properties. Yucatan has a very active Airbnb market. We have experienced a significant influx of Americans and Canadians during the winter season, which is increasing each year. They are also investing by opening businesses, particularly bars and restaurants, along the state’s coast. Many of them are taking up permanent residence and opening English schools. Australians and Argentinians have also been spending more time on Yucatan's coasts. Our prices are very reasonable, considering that new homes off the coast can easily reach US$1 million while our lots, for which all services are available, can cost less than US$25,000 and just 3km to 4km from the beach, not to mention that construction prices are, by international frames of reference, extremely low and accessible. Our ideal buyer is someone who is aware of Yucatan’s enormous investment value while also having an interest in our communal concept.  

 

Komunah is a real estate development and integrated community located between the Yucatan capital of Merida and the coastal municipality of San Crisanto, with 130ha of residential and commercial space under development.

Pedro Alcalá Pedro Alcalá Senior Journalist & Industry Analyst