Tulum, Quintana Roo — The upcoming opening of new shopping centers, along with incentives for retail tenants and lower real estate prices, are expected to boost Tulum’s economy ahead of the next high season, according to local real estate leaders.
Mario Antonio San Miguel Herrera, president of the Mexican Association of Real Estate Professionals (AMPI) in Tulum, said the pipeline includes Centro Tulum, a complex with more than 70 retail units, movie theaters, restaurants, entertainment venues and over 800 parking spaces. The project is designed to serve residents, visitors and people from nearby communities.
Another development, Plaza Juná, is set to open next to the Motto by Hilton hotel with roughly 30 retail units, office space and capacity for more than 1,000 people daily. San Miguel Herrera said both projects will expand the range of services and commercial spaces available in the municipality.
With foot traffic declining in some commercial corridors, he said the sector is proposing incentives to attract businesses to the new developments, including rent-free periods and preferential rates. Interested merchants can submit current lease agreements for review and may qualify for the benefits based on the terms evaluated.
San Miguel Herrera added that efforts are underway to bring larger retail anchors such as Sam’s Club, MultiPlaza and Walmart to Tulum. He said those investments could help diversify the local commercial offering and spur greater economic activity, although their arrival will depend on how each project progresses.
On the real estate market, he noted a significant drop in prices, particularly for land and commercial leases, which he described as an opportunity for medium-term investment. In contrast, apartment sales and occupancy lag behind, while land and residential housing remain more active.
San Miguel Herrera pushed back against the idea that all goods and services in Tulum are overpriced, saying several sectors have adjusted rates to be more competitive. He estimated current market conditions could last about a year before a broader rebound in the area’s real estate and commercial activity.
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