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Interview with
Juan Francisco Diaz Rivera, Leticia Díaz Rivera y Arq. Manuel Diaz Rivera
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Could you tall us briefly how did you arrive here at the Pedregal?
Arq Manuel Diaz River The idea has always been to get out of the city of Mexico. However, we were seeing it was more and more conflictive, overall because of the demographic increase which was so fast. We wanted to escape from that phenomenon, to go to a quiet place of the Mexican Republic and without social problems. We were thinking of going to Tijuana because it was attractive to be next to the richest state of the richest nation, which is California. But, we were aware that there were also conflicts because it was a border city and with a quick demographic rise. So we decided to visit the town of Enseneda. This last one seems to us very interesting, but with a cold weather, with alot of fog and the sand of the beach was hard. So we went further in the south to visit Cabo San Lucas. In 1973, there was not any direct flight. Therefore, we took a light airpcraft to go to Cabo san Lucas. Moreover there were no roads to get there by means of a short cut; it was four hours by car. The whole family liked this place. So, we immediately looked toward the possibility of acquiring a large amount of land in that area. This way, by the time we were ready to move there it would have become an interesting investment. Eventually in 1974, we bought a large plot of land, the one which is now El Pedregal de Cabo San Lucas, and my children Manuel and Pablo were the first ones to leave Mexico city to settle over there. An that time there were only 900 habitants in Cabo San Lucas, so it was a big challenge for the family.
Can you tell us, in potentialities words, what did finally, convince you for that ground?
I had worked in the industry of "Fraccionamientos" in the city of Mexico. That experience permitted me to know that the land next to the beach , would in time become the best area of investment We sold a part of our business un Mexico city in order to be able to complete the requirements needed to establish a tourist development, everything started to boom for us very soon we were able to leave our business in Mexico City and settle finally in Cabo San Lucas. We could already see that the area had a big economic potential by the kind of people who were coming to visit. Tourists were arriving in yachts, or in private planes. Even the president of the United States, at that time, was coming to do fishing next to La Paz.
How did the reputation of Cabo San Lucas really begin. What were the major factors that helped the development not only of Pedregal but that of the region as a whole?
People were coming often to fish and actually the Los Cabo's beaches have always been a fishermens paradise. Every year, for long time, Bob Bisbee had been organizing a fishing tournament, the Blue Marin, which attracted numerous personalities. They competed with huge yachts for very important prizes. This was great publicity for the fishing world. Sometimes there were even International tennis tournaments in Cabo and gradually the area gained a reputation for quality. In More times, big golf courses began to sprout up and investment was brought in to open up the area to new markets.
What is currently the percentage of national residents in El Fraccionamiento Pedregal and what is the percentage of foreigners?
Lic Leticia Diaz River Today approximately 30% are Mexican and the rest is foreign. The profile has also changed as time has gone on and today we boast a balanced number of residents both professional and as temporary visitors
What does El Pedregal offer compared to other existing development in Cabo San Lucas?
Leticia Diaz River Today we have the best geographical location in all Cabo San Lucas. We are beach front by the marina and next to the town Moreover, we are high on a hill, offering spectacular bay views as well as the beaches of the Pacific. We have surveillance 24 hours a day and all the amenities needed. In addition, El Pedregal is a completely ecological development and its philosophy throughout construction was to integrate the houses and the streets in the most harmonious manner possible
What are the projects for the next 5 years?
In El Pedregal the plan is urban development, that is, the careful paving of the streets and the increase of its’ services. In the near future we will build a hotel on an 8 hectares plot of land and which will be on the side of the Pacific beach will incorporate a system of vacation ownership, one of the fasted growing areas of real estate in the region. Our philosophy will remain the same as that of El Pedregal. As we respect the current aspect of the land, we will not construct any oversized structures which invariably would spoil the landscape and the view. The hotel will be colonial in style with southern Spanish-Mexican design, a warm Mexican feel and a rotating restaurant at the top. From the restaurant the views stretch from the marina on one side to the incredible Pacific Ocean on the other.
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For the financing of developments are you using your own funds or are you accepting investment from outside, nationally or Internationally?
We are open to all aspects of investment. We have had initial investment from Mexicans and foreigners who come not only from the United States but also from Europe. Regarding the hotel that we are building, the initial investment does not come from us will serve to help finance the second phase of the project, which is the vacation ownership. We are also excited about the possibility of a joint- venture with a major hotel chain. This way our destination would not merely be a 5 star hotel but that of Grand tourism. This place deserves it: it’s unique!
Where did the idea of this project originate from?
Sr. Juan Francisco Diaz River our grandfather (Arq Manuel Diaz Rivera has been dreaming of doing something like that since the age of 12 years. his visionary spirit had been our source of inspiration. The is reason why we have all been involved. With Regards to the kind of construction we have taken as an example, the Mediterranean villages which have a 100% Mexican architecture.
What is the image you have of Mexico that you could share with our readers?
Mexico is a country of friendly people. As a country Mexicans, in the area of investment are opened to foreign participation and exchange of capital. When foreigners feel welcomed they invest with a lot of confidence.
Do you have other similar developments to El Pedregal in any other places?
We are starting in La Paz with something similar but Tailor-made to the conditions of that particular region. Apart from the hotel complexes, we needed to open a school a long time ago because the majority of hoteliers had children who, like us had no schools nearby, therefore we all had to go away to study. We all got together and solved the problem, we built a school and next to the school we built a commercial shopping area and then found investors to join us. Subsequently, we now have two new schools in San Jose. Many of the residents now have their children at the school and temporary residents now send their children their also to do courses when they are here.
Could you mention 4 reasons to settle here as a resident or as an investor?
Apart from the fact that beaches are the most beautiful of the Pacific North, economically the potential growth of Los Cabos is huge. The associations here will guarantee to maintain the development in an organized way ensuring that the value of property will increase consistently. It has been said that in Los Cabos, we enjoy the best of Mexico and the best of the United States.
What do you have to do regarding the public sector in order to promote it?
The private investor has associated itself with the government. Together they have improved the infrastructure of Cabo San Lucas. Cabo San Lucas is in better shape than ever before. One strategic plan is under development at the moment, that is to take the build up of urban traffic out of the town and organize the boulevards in such a way that the city doesn’t suffer from cramp and keep the image of a clean and environmentally friendly city. Everything that we do here is done well and with the long term in mind. It is this kind of philosophy and ability to act that will slowly but surely expose Los Cabos to everyone and consequently improve its reputation and name.
What would you like to see happen in the nearby future?
We would like that Cabo San Lucas maintain itself a tourist destination and a residential centre with of high economic standards.It would be disappointing to see the area ruined by the cheap class of tourism that destroys everything in its reach. Cabo San Lucas is growing a lot but in an orderly fashion and we would like it continue this way.
How do you view the growing competition in Cabo San Lucas?
The market is very broad, 30 million potential clients only 2 hours away by plane, so there is room for everyone. Everyone comes here for different reasons. Therefore, for those who wish to isolate themselves from the world for 6 months in tranquility, they invest in homes at El Pedregal. For others wishing to visit on a permanent basis but for short periods of time, they invest in Time- share options or something similar. There really is an incredible market here!
What is your last message for our readers?
Cabo San Lucas has a long and interesting future ahead. There is still a lot to be done but without the continued support of investment from here or abroad. We can assure everyone that whatever is done here ,is done with excellence I mind and always successfully.
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© World INvestment NEws, 2000.
This is the electronic edition of the special country report on Mexico published in Forbes Global.
July 3rd 2000 Issue.
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MEXICO
