Crystal Lagoons Expands Worldwide with Mega-Contracts and Entry into New Markets14 January, 2022 / News
Miami-based innovation multinational company Crystal Lagoons is continuing to grow around the world, starting 2022 with mega-contracts and opening up new markets with its revolutionary Public Access Lagoons™ projects, also known as PAL™ developments.
One of the company’s most important announcements is its expansion in Europe, in particular its entry into Eastern European market. Crystal Lagoons will take the PAL™ concept to Eastern Europe’s main capitals, cities of great cultural and historical richness as well as being iconic tourist destinations. These are Budapest (Hungary), Prague (Czech Republic), Bucharest (Romania) and Warsaw (Poland).
Another new market to which Crystal Lagoons will bring beach life is Central America, more specifically Costa Rica, a country known for its more than 600 beaches and 1,228 kilometers of coastline. In this iconic tourist destination, the multinational is proceeding with its first PAL™ development, which is part of a mega-contract for 11 such complexes signed with successful Central American businessmen and wealthy families. This agreement opens up the possibility of developing other projects in countries such as El Salvador, Honduras, Panama, Nicaragua, Dominican Republic and Belize.
The company is also growing its presence in the United States, its largest market worldwide. In Orlando, Crystal Lagoons is negotiating a second contract for two public access complexes with ADËLON Capital, a firm with which it has already entered an agreement for at least five additional artificial lagoons in that city. These projects are in addition to Evermore Orlando Resort, a development that is advancing at a steady pace in the footsteps of Disney World and Universal Orlando Resort.
In the Middle East and North African (MENA) region, Crystal Lagoons is expanding with five new complexes in Egypt, its most important market, where the emblematic Citystars Sharm El Sheikh is located in the heart of the Sinai desert, with a 12.5-hectare crystalline lagoon. New developments this year are focused on the Red Sea (Abu Soma) and Cairo, in partnership with the same developers of the Sharm El Sheikh (Sharbatly) and Fouka Bay and Mount Galala (Tatweer Misr) projects on the North Coast.
Meanwhile, in Dubai, the company is negotiating a master agreement for five PAL™ developments in partnership with a prestigious German-African real estate fund. Meanwhile, the luxury residential development Tilal Al Ghaf is also making headllines by expanding its 7-hectare lagoon to 13 hectares, triggered by its extraordinary success in sales, placing it among the top 5 best-selling greenfield projects in Dubai. In Saudi Arabia, the multinational is in talks for three new contracts, of which two are master agreements for PAL™ lagoons and a real estate project in Jeddah.
Crystal Lagoons also has plans in the Oceania and Asia markets, which include five projects in Australia, a master agreement in South Korea (31 PAL™ projects), developments in Japan (in Okinawa and Osaka), 15 PAL™ projects in Pakistan and two new developments in Palestine.