Murano Global Investments PLC (NASDAQ:MRNO), a London-headquartered real estate company focused on developing hotel, resort and commercial properties in Mexico, has signed a non-binding memorandum of understanding with a global cruise operator to explore the potential creation of a cruise port destination on its property in Bajamar, Baja California,
According to the company, the Baja Project would be located on the Tijuana Ensenada corridor, 60 minutes from the Tijuana/San Diego border and a few minutes from several popular beach resorts. The Baja Project would expand Murano’s development pipeline that includes plans that include the development of a 370-key hotel and an industrial park – a new cruise port destination would add another hotel of up to 400 keys and a retail village to serve the tourist traffic from a cruise port, the company added.
Murano did not identify the cruise operator in this pact.
“We are delighted to have engaged with a world leader in the cruise lines industry, as we seek to create a new major tourist destination with the proposed cruise port in our Baja Project,” said Elias Sacal, CEO of Murano. “Importantly, there are no other cruise ports in proximity to our location. This would make the development of a port a highly strategic and mutually beneficial endeavor for Murano, the cruise operator and the local economy, which would benefit significantly from enhanced tourism. We strongly believe that Murano has the vision, know-how and experience to launch major developments and create world-class destinations, and that this development will again demonstrate these capabilities.”
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