Leading the Way in Yucatan's Real Estate Market Through Innovation
Grupo GEA is a leading developer in Yucatan, Mexico, known for its high-quality real estate projects and commitment to innovation. The company creates high-value products for partners and investors and offers a vision of the future. In order to offer reliable, safe, and high-value products, Grupo GEA conducts deep analysis of the region and the markets they work in to establish suitability. The company has a long-term strategy and constantly seeks to strengthen strategic alliances to execute its national expansion plan.
Founded in 2016, Grupo GEA is playing a significant role in the development of the real estate industry in Yucatan. The real estate market in the region has seen significant growth in recent years, driven by an influx of tourists and foreign investors. CEO Jorge David Carrillo Díaz explains that the State of Yucatan is experiencing a "real estate boom." As real estate booms have happened in other areas of the country, such as Queretaro, Monterrey, and Mexico City, he believes it is now Yucatan's turn to experience this growth.
The state government of Yucatan has implemented several number of initiatives to support the real estate industry, including infrastructure development and investment in tourism. This has helped to attract more foreign buyers and drive growth in the market. Yucatan has a well-developed infrastructure, including roads, airports, and ports, making it easy for investors to access and manage their properties. One of the biggest selling points for investors, people looking for second homes, and tourists in Yucatan is the state's stable political and economic environment, transparent legal system, and reputation for stability and security. Furthermore, Yucatan offers beautiful beaches, a rich cultural history, and an abundance of natural attractions, Jorge describes the region as "a paradise that is being discovered." Yucatan is home to a number of UNESCO World Heritages sites, including the ancient Mayan city of Chichen Itza and the colonial city of Merida.
Taking advantage of the growing real estate and tourism sectors in Yucatan, Grupo GEA has implemented an expansion plan. The company follows biannual strategies, and in 2022, the focus was on solidifying and establishing the new structures that will support the company's growth. This included expanding the personnel and sales team to support an increase in customers. With the foundation already established, the goal for the following year is to reach $650 million pesos in sales.
In December 2022, the company embarked on its largest project to date, a 250-hectare, approximately 618 acres, development called Gran Telcha, located 45 minutes from Mérida. The company expects this project to be a game changer due to its residential, vacation, and leisure products, as well as its planning according to the requirements of a first-class lifestyle. The development will include 11 properties, multi-family buildings, and a tourist pavilion where investors can build and further urbanize the area with tourist stores, restaurants, and other amenities. The development will also feature a range of amenities and a vacation membership business plans to attract tourism and "give life to this project." As CEO Jorge David Carrillo Díaz explains, "The profit of this business depends on us making these multi-family nuclei."
This new project reflects the company's vision for its future product offerings, as explained by Jorges it wants to commercialize. As Jorge David Carrillo Díaz. "The aim is to make Yucatan an attractive tourist destination by breathing new life into the city." In line with this, Grupo GEA is investing around $20 million pesos a year in what they call GEA amenities, which include beach clubs, bungalows, and houses accessible to clients who purchase land from the company. Membership is offered exclusively to those who have bought properties from Grupo GEA.
In response to the growing market trend of second homes, Grupo GEA is also extending residential membership to all its facilities for weekly rentals. Meaning that those renting the properties can use all the amenities during their holiday stay. Jorge explains that this sets them apart from the competition: "We want to have permanence, and the way to give more sense and solidity to what we offer and to our customers is to take this type of action."
The innovative company has been proactive in considering and planning for the potential challenges and opportunities that may arise in the future. When Jorge joined Group GEA as CEO five years ago, he had a forward-thinking mindset. He implemented the necessary infrastructure to support remote work, which was not common in Mexico at the time. He carefully planned for the necessary equipment and technology, including introducing corporate clouds and business intelligence tools to digitize the company. When the COVID-19 pandemic hit, Grupo GEA was already prepared for remote work and was able to continue operating smoothly, giving them a competitive advantage over other companies that were struggling to adapt to the new reality of working from home. This allowed Grupo GEA to not only maintain their operations during the pandemic, but also see record sales a few months later. The CEO attributes this success to the company's commitment to innovation and the "new millennial mentality."
With its long-term strategy, commitment to innovation, and strong presence in the real estate market in Yucatan, Grupo GEA is well-positioned to continue leading the way in the region's real estate boom. As Yucatan continues to attract investors and tourists with its beautiful beaches, rich cultural history, and stable economic environment, Grupo GEA's vision for the future and dedication to high-quality products and services are sure to drive their continued success.
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