Crystal Lagoons, a US multinational water innovation company, announced Thursday that it is in talks with investors from the Middle East to bring public lakes to the region.
The company, which has 22 global real estate projects centered on crystal lakes, including District One in Dubai and Citystars Sharm El Sheikh, Egypt, is looking to expand its portfolio of lakes open to the public, also known as PAL, which can be accessed via ticketing entry.
The company said it is negotiating with Middle Eastern investors and foreign funds, adding that interest in PAL has turned these facilities into a meeting point in the 21st century, following its success in Japan and the United States, particularly in Texas and Florida, on both projects. Generate $ 50,000 in daily ticket revenue.
Crystal Lagoons company offers investment models with infrastructure options, with the most complete ones including promotional areas, dining halls, weddings, and concerts in multiple venues such as beaches, terraces, and domes, as well as a range of gastronomic, retail, and amphitheater offerings.
The company added that major PAL agreements have already been signed in Korea, Pakistan, and Central America.
Alastair Sinclair, Crystal Lagoons’ Regional Director, said investors are imagining that when building these projects they generate a financial pyramid. Despite the low initial investment, the company can achieve a very high present value.
The hotel industry has identified an increase in value in prices and consumption of food and beverages of up to 200% when hotels have a beach, compared to in-house hotels. Investors have assured that on low-value land, a hotel that combines the beach and PAL elements can benefit from very attractive returns.
He also said that the multinational company is negotiating 19 developments in countries such as Saudi Arabia, the UAE, Qatar, Kuwait, Bahrain, and Oman.