One of the most important current developments in the Tulum real estate market has been the new Riviera Maya International Airport, to be construction just outside of the town. In late March, ASUR, the operator of the Cancun International Airport 2 hours down the road, withdrew from the bidding process, marking a major step forward in the progress towards the beginning of construction.
On March 30th, Adolfo Castro, director of Finance of ASUR, announced that the group is definitively out of the bidding process to own and operate the new airport. The two corporations remaining in the bidding must submit their technical bids by the 25th of April.
For the real estate market in Tulum, the arrival of the new airport means a substantial growth in new opportunities for investment. Land for sale has been a favorite purchase, both among investors looking for high return with the boost expected from the new airport, as well as buyers looking for real estate deals on lots or homes which will offer a luxury lifestyle, currently available for a much lower price.
In addition to lots and resale homes, there is also a growing market for Mexico condos for sale, especially in the town center area, only a short walk from conveniences like Tulum’s new Walmart as well as the beachfront area.
The withdrawal of ASUR from the bidding process means that it is now guaranteed that the new airport will be owned and operated by a company different from the operator of the Cancun International Airport, currently the area’s only major means of access for international visitors and residents. This, in turn, should guarantee competition between the two, offering better deals for residents of Tulum to choose from.
Earlier in the year, Mexico’s Federal Competition Commission (CFC) had ruled that fair competition did not allow ASUR to participate in the bidding for the area’s second major airport. ASUR filed an appeal before the CFC during February, emphasizing hat its goal was not to delay the process, but only to participate. However, on March 30th the group announced that they are “out of the process altogether.” ASUR currently operates 9 international airports in Mexico, making it one of the country’s most significant groups. By far the largest operated by the group is Cancun International Airport.
The bidding process is expected to move ahead quickly now, with April 25 as the deadline for the two remaining corporations to submit their bids. The winning bidder is expected to be announced by late May.
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