Orientation
The Mayan Riviera is located on the eastern coast of the Yucatan Peninsula in the southeastern part of Mexico. It is a part of the state of Quintana Roo. The Riviera stretches from the end of isla de Cancún to Tulum and consists of mainly miles of pristine coral beaches, mangrove preserves, resort areas and ancient Mayan ruins. The cities accounted for in the Riviera Maya are; Puerto Morelos, Playa del Carmen, Akumal, Xpu-há, Felipe Carillo-Puerto and Tulúm.
The eastern coast of the Yucatan is home to the worlds second largest coral reef, it stretches from the northeastern tip of the Yucatan peninsula, through the sea between Cozumel and Riviera Maya, along Costa Maya, Belize and southeast to Honduras.
Mayakoba is a resort area located about 10 km north of Playa del Carmen, the vibrant heart of the Riviera Maya. It is a resort area developed with a vision of a perfect harmony between luxury and nature, with over 60% of the land left untouched by man to preserve the tranquility and true beauty of the Riviera Maya. It boasts five 5 star hotels all of which are amongst the most exclusive in the Riviera. It features also a Greg Norman signature golf course, El Cameléon, home to Mexico’s only PGA event, for the next five years.
Access
The Riviera Maya is best accessed by flight into Cancún International Airport and Cozumel International Airport. Cancun international airport is the second busiest airport in Mexico with over five million passengers arriving each year, and still continuing to grow.
Most major American airlines have direct flights from most major cities or through their hubs. Direct flights from London, Madrid, Frankfurt, Milan and other European cities are also available.
The second most popular alternative of visiting the Riviera is by cruises. Cozumel and the Riviera Maya is the second most popular cruise destination in the Caribbean, with over a thousand cruise ships and more than three million passengers visiting Quintana Roo each year.
Dimensions & Geography
The capital of Quintana Roo is the city of Chetumal. Quintana Roo also contains the resort city of Cancún, the islands of Cozumel and Isla Mujeres, the towns of Bacalar, Felipe Carrillo Puerto, Playa del Carmen, Puerto Juárez, Akumal, Xcalak, and Puerto Morelos, as well as the ancient Maya ruins of Chacchoben, Chakanbakán, Chamax, Coba, Dzibanché, El Meco, Ichpaatán, Kohunlich, Muyil, Oxtankah, Tancah, Tulum, Tupak, Xel-Há, and Xcaret. The Sian Ka'an national park is also in Quintana Roo.
The state covers an area of 50,351 square kilometers (19,440.6 sq mi), and the 2005 census reported a population of 1,135,309. The statewide population is currently expanding at a rapid rate due to the construction of hotels and the demand for workers. Many immigrants to the state come from Yucatán, Campeche, Tabasco, and Veracruz.
Climate
The warm waters of the Caribbean Sea contribute to the climate, which is generally warm and humid. The average temperature range is 25.5°c to 26.5°c (78°f to 80°f), with maximum high temperatures between 36°c and 38°c (97°f and 100°f) and low temperatures ranging from 12°c to 14°c (54°f to 57°f). The highest monthly average rainfall, 17 centimeters (6.7 inches), occurs in September. Annual rainfall ranges from 1,100 to 1,500 millimeters (43 to 59 inches), with the average being 1,200 millimeters (47 inches). Best times to visit the area is around Christmas until may, as the weather is very mild and not too humid as compared to summertime.
Visa and Passport Policies
A passport is needed to enter Mexico except for Canadians visitors who only need a birth certificate accompanied by a photo ID as long as their flight is a NON STOP flight from Canada. United States and Canadian citizens do not need a visa to enter the country. Please check with your travel agent or the Mexican Consulate in your area about the documents you will need to enter Mexico.
FAQ
What is The Kor Group?
Who is the Developer?
Who is the Architect?
Who is the Interior Designer?
What Real Estate Opportunities are Available at Viceroy Mayakoba?
What Amenities and Resort Services Will be Available at Viceroy Mayakoba?
What kind of transportation will be available at Viceroy Mayakoba?
Will there be a homeowners association at Viceroy Mayakoba?
Who will own the Resort common areas at Viceroy Mayakoba?
Who will be responsible for the maintenance of the Resort common areas?
Who is financing the construction of Viceroy Mayakoba?
What about purchasing Real Estate in Mexico?
What is The Kor Group?
The Viceroy Resorts and Residences, together with The Tides is a part of The Kor Group, a 3 billion dollar privately held investment, development and management firm, currently holding 22 hotel properties under development and operations around the world. The Kor Hotel Group is often described as one of the market leaders and fastest growing hotel group within chic boutique condo hotel industry.
Who is the Developer?
Obrascon Huarte Lain (OHL). Based in Madrid, Spain, OHL has over 12,600 employees and an impressive growth rate of 9.8% since 2004. In 2005, its net sales amounted to 2.4 Billion Euros – the equivalent of 3 billion US Dollars.
In addition to its financial pursuits, OHL is also strongly committed to environmental responsibility and in 2003 produced its first Sustainable Development Report. As Chairman of the Board of Directors and author of the report, Juan-Miguel Villar Mir noted that mindful attention to the long-term health of the environment creates a “virtuous circle” that benefits the company, its clients and the globe. OHL’s ecological diligence has served it well in Mexico, where strong government regulations are enforced to protect the environment.
A presence in Mexico since 1980 OHL employs 400 people in Quintana Roo and has built highways, bridges, hotels and hospitals. The tourism complex at Mayakoba, which will eventually include two or three golf courses and five luxury hotels, is OHL’s most ambitious hospitality project to date.
Who is the Architect?
Legorreta + Legorreta. Viceroy Mayakoba will feature contemporary Mexican architecture as envisioned by Legorreta + Legorreta, a ground-breaking firm based in Mexico City that has gained worldwide acclaim for creating fresh, spontaneous spaces that respond to the needs of both their environment and their occupants. In the United States, Legorreta + Legorreta's brilliant colors and impressive body of work have won numerous commissions in the West and the Southwest, including Pershing Square in Los Angeles, the San Antonio Central Library in Texas and the Visual Arts Center at the College of Santa Fe in New Mexico.
Major awards and recognition
• AIA Gold Medal, the highest American architectural honor bestowed
(other medalists include Frank Lloyd Wright, I.M. Pei and Frank Gehry)
• UIA Gold Medal
• Gold Medal, Panamerican Association of Architects
• Manuel Tolsa Medal, UNAM, Mexico City
• Touristic Professional Merit Medal “Cesar Balsa,” Mexico
• First-ever Life and Work Award, CEMEX Medal, Mexico
• Career recognition from ARPAFIL, Mexico
• Career recognition from Federation and Cancún Architects School
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Who is the Interior Designer?
The sophisticated and contemporary interior design of Viceroy Mayakoba will be created by Kelly Wearstler, founder of Los Angeles-based firm kwid (Kelly Wearstler Interior Design). The imaginative eye behind the Viceroy collection's signature style, as well as trendsetting boutique hotels, upscale residences and destination restaurants in Los Angeles and New York, Wearstler and her distinctive, cosmopolitan touch appear regularly in leading shelter and fashion magazines, as well as in her recent books Modern Glamour and Domicilum Decoratus. Wearstler was named one of the "50 New Tastemakers for the Future of Design" by House & Garden and has appeared on House Beautiful's honor roll of the nation's best designers for four years running.
• Viceroy Santa Monica
• Viceroy Palm Springs
• Avalon Hotel Beverly Hills
• Maison 140 Beverly Hills
• Hard Rock Hotel and Casino Las Vegas
What Real Estate Opportunities are Available at Viceroy Mayakoba?
The Viceroy Mayakoba is located on a total of 40 acres divided into two sites at Mayakoba, Lagoon and Beach. The Beach site features 44 units, ranging from a studio to a five-bedroom presidential villa. The Lagoon site features 120 units ranging from studios to four-bedroom Presidential lagoon villa.
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What Amenities and Resort Services Will be Available at Viceroy Mayakoba?
• Personal lifestyle attendants provide intuitive service
• Pre-arrival provisioning
• Private water taxi service on lagoon waterways
• Business center and services
• Daily housekeeping
• Intuitive 24-hour concierge services
• Staff-for-hire for cooking, cleaning and childcare
• In-residence dining with private chef services
• Personal shopping
• Intimate event catering
• Dry cleaning and laundry
• Tour arrangement
• Preferred tee-times at PGA-rated Championship Golf Course
• Complete home and landscape maintenance
• Ownership may include the opportunity to place your home in a rental arrangement
• Non-traditional transportation options including everything from motorized boats and golf carts, to bicycles and battery-operated scooters encourage residents to explore the expansive resort enclave
What kind of transportation will be available at Viceroy Mayakoba?
All transportation around Mayakoba is done by eco-friendly electric boats called lanchas. Cars are not allowed within the resort area, if the need for a faster mean of transportation should arise, golf carts are available.
Will there be a homeowners association at Viceroy Mayakoba?
Yes, each purchaser of a residential unit at the Viceroy Mayakoba will be a member of the local homeowners association. By virtue of the membership in the Viceroy Mayakoba homeowners association, all unit owners will be responsible for payment of homeowner association dues.
Who will own the Resort common areas at Viceroy Mayakoba?
Each resort common area, such as Spa, Restaurants, Lobbies, Beach club, all areas within the Viceroy sites will be owned and managed by Viceroy. The common areas in Mayakoba, mainly consisting of pathways, greeneries, and golf course are owned by OHL.
Who will be responsible for the maintenance of the Resort common areas?
Each resort common area will be maintained by the company that owns it. All common areas within the Viceroy will be maintained and serviced by Viceroy and all common areas in Mayakoba, outside of hotel properties will be maintained and serviced by OHL.
Who is financing the construction of Viceroy Mayakoba?
Lubert-Adler is a real estate private equity firm specializing in redevelopments through joint ventures with local operating partners.
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What about purchasing Real Estate in Mexico?
For non-Mexicans, purchasing and owning real estate in Mexico has never been a more viable proposition. Thousands have already made the transition from visitor to resident (or part-time resident) of Mexico, attracted by the country's exquisite geography, warm climate, reasonable cost of living, relaxed lifestyle and overall quality of life. Still, there are significant differences between buying real estate in Mexico and in the United States or Canada. For those interested in buying property in Mexico, it's important to know how foreign ownership works, what the buying process involves, what's available and what the prices are like.
To ensure smooth and secure transactions, OHL and the Viceroy Mayakoba have partnered with Chicago Title to make title insurance policies available when purchasing property at Mayakoba.
In addition, OHL has contracted with a Mexican/US law office with a long history of providing counsel for real estate purchases within Mexico and other international destinations. The legal partners have created the legal structure for contracts, sales documents and registration of all deeds pertaining to Mayakoba sales. Purchasing at Viceroy Mayakoba is a clear, secure and uncomplicated process.
• Can foreigners own property in Mexico?
• What is the trust and how does it work?
• How is the trust created?
• Are there differences in other aspects of property ownership in Mexico?
• Do non-trust properties sell at different prices in the market trust properties?
• Is the property and title insurance available?
• What about Taxes? What can I expect to pay?
Can foreigners own property in Mexico?
Yes. However, article 27 of the Mexican Constitution states that foreigners may not own property within 100 kilometers of a border and 50 kilometers of a coastline. Since 1973, foreigners have been able to purchase coastal and border properties through a Mexican bank trust, known as Fideicomiso. This was a protectionist measure written into Mexico's constitution after foreigner invasions repeatedly threatened the country's sovereignty. Foreigners have always been allowed to own rural or urban land in the interior of Mexico subject to certain limitations on specific agricultural tracts.
All land purchases are completed through a Mexican bank trust that is established with a Mexican bank. The Mexican bank acts as trustee on behalf of the purchaser and the purchaser holds all rights of ownership. The trust deed is registered in the public land registry and exists for a period of 50 years and is renewable for subsequent 50-year periods for the cost of a filing fee. The Mexican Government specifically created the trust system to allow non-Mexicans the security of ownership without having to change its 1917 constitution.
What is the trust and how does it work?
Essentially, it is just like a trust in the United States- the bank holds the legal title to the property, with all rights and privileges of ownership, including exclusive use and enjoyment rights, held by the trust beneficiary-in this case, you. You, the beneficiary, enjoy the right to occupy or rent the property and may cause transfer of title or beneficiary transfer to the property to any legally qualified person you may designate. Beneficiaries are also allowed to modify their property in accordance with local zoning regulations and subject to any applicable condominium governing documents.
These trusts have an initial term of 50 years and are renewable any time or at the end of the 50-year period for a relatively small filing fee for additional 50-year periods. The property may also be sold to a person legally authorized to own land or to another foreigner via a trust, at any time. This process is designed to protect foreigner rights and ensure all transactions are legal.
How is the trust created?
To establish the real estate trust or "Fideicomiso" a public notary (an attorney appointed by the state to notary office of which there are a limited number in any given state) charges a predetermined fee to cover the costs of completing an investigation of the entitlements and certifications, a tax appraisal and preparing and registering the trust deed agreement. The trustee bank also charges and annual fee for maintaining the trust, currently averaging between $400 and $500 per year. The trusts are carried as 'off balance sheet' assets by the banks, acting as trustees.
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Are there differences in other aspects of property ownership in Mexico?
Property financing is available to non-Mexican citizens by US and Mexican banks. Viceroy Mayakoba partners are securing financing with a U.S. based mortgage company and will be able to provide details on available financing companies.
Buyer closing costs tend to be higher in Mexico than they are in the U.S. or Canada, currently averaging 4 to 5 percent of the purchase price. Closing can normally occur within 30 days depending on the dates negotiated in your purchase agreement. Chicago Title will manage all escrow deposits for property transactions at Viceroy Mayakoba.
The buyer and seller need not be present at closing, and may be represented by a Mexican national via a power of attorney.
Notaries are the agents of record for all transactions registered in the Land Registry Office.
Do non-trust properties sell at different prices in the market trust properties?
No. There has never been any differentiation between properties that are 'in trust' and those that are not-providing, perhaps, the 'acid test' validation of the trust systems.
Is property and title insurance available?
Title insurance is available on property that is fee-simple land held in a trust. Beginning in 1996, Chicago Title began underwriting title insurance for Mexican properties at an approximate cost of $7 per $1,000 of the insured amount. Other types of insurance, including property, liability, damage and earthquake are all readily available in Mexico at cost and policies can be written to pay claims in U.S. dollars. To date, there are neither home inspection agencies nor home warranty policies available in Mexico.
What about taxes? What can I expect to pay?
For the buyer, the subject of real estate taxes generally comes as good news, especially in Quintana Roo. Here, real estate taxes tend to be set for the lowest common denominator. Known as 'Predial,' the tax is calculated as a percentage of the assessed value, paid every two months and determined at the time of sale based on the tax appraisal (property assessment). Property taxes have historically been low in Mexico because they have never been considered a source of significant governmental revenue.
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