The Dragon Mart, a trade mart being built in the southeastern Mexican state of Quintana Roo with Chinese investment, has been ordered to shut down due to environmental damage caused by the project.
The project, located in the El Tucan district of the city of Benito Juarez, was ordered to close down following a visit by federal environmental inspectors who determined that developers had failed to comply with orders recently issued by officials, the director of the Profepa environmental protection agency, Guillermo Haro, said in a press conference.
Developer Real Estate Dragon Mart was building the trade mart in a jungle area that is home to wildlife and a coastal ecosystem that are “all protected” by environmental laws, Haro said.
The project “has affected the area’s biodiversity” and the “productive capacity of the forest lands,” the Profepa chief said.
The developers of the Dragon Mart project planned to build 722 residential units and 20 warehouses, as well as 3,000 spaces for businesses, on 204 hectares (503 acres).
Dragon Mart was designed to be an exhibition center for merchandise from China, providing an opportunity for companies from the Asian nation to make contacts in Mexico and Central America.
Sentido Comun – Consorcio Ara, a leading Mexican home builder, announced that it expects a 10 percent increase in revenue this year. It also predicts subsidized homes will account for 18 tp 20 percent of its total revenue.