AMPI Verifies 96 Cancún Real Estate Projects

In response to recent fraudulent activities involving real estate developments in Cancún, the Mexican Association of Real Estate Professionals (AMPI) has initiated the verification of 96 such developments. The aim is to ensure these projects are legally compliant and suitable for marketing.

Elizabeth Ramos Díaz, president of AMPI, explained that the organization is working alongside the Committee for Real Estate Developments. They are visiting these projects to provide legal assurance to potential customers. Ramos Díaz clarified that any sanctions or closures would be handled by the Benito Juárez Municipality.

AMPI is making concerted efforts to secure the marketing process. During their visits, they inquire about security measures and compliance with permits issued by the authorities. The information gathered from these developments is currently being analyzed.

In the previous year, the Benito Juárez Municipality executed four closures. Three of these cases have already resulted in criminal complaints filed with the State General Prosecutor's Office (FGE). This year, they plan to address five or six irregular developments that have been identified.

The authorities have also announced that from February onwards, they will resume operations against developments that began without the necessary permits, thereby lacking legal land tenure. For AMPI, providing legal certainty is crucial as it encourages more investments and buyers, ultimately boosting the economy.

The state's value has been increasing due to priority projects like the Maya Train and Nichupté Bridge. However, this has led to the marketing of developments without the necessary services or permits. These are typically advertised in monthly installments and promoted via banners or social networks, which have been flagged by the authorities.

The Committee for Real Estate Developments was established as a collaborative effort between private enterprises and authorities to mitigate risks in the real estate industry. According to consultancy firm Softec, there were 574 development projects with 43,000 units in Cancún alone at the end of 2024.