This agreement will be implemented through joint ventures between the two companies. Crystal Lagoons, a company founded by scientist Fernando Fischmann, will contribute its invaluable intellectual property rights associated with its state-of-the-art technology, owning a percentage of the companies' shares. Lagoon Development Company will have exclusivity in the Houston market, spanning the entire MSA. Other areas of the United States are also being evaluated for additional projects under the same model.
Lagoon Development Company is formed by renowned real estate developers who already have other successful projects that include the Crystal Lagoons® amenity. Each of the new facilities will involve an investment of approximately US$50 million.
"The experience of crystalline waters, white sandy beaches, and numerous activities in a PAL™ development is what attracts people from far and wide and what makes it a truly successful destination," said Uri Man, CEO of The Lagoon Development Company. "This is precisely why we have chosen to partner with Crystal Lagoons."
"These joint ventures allow us to expand our PAL™ projects into strategic areas, and with them, Crystal Lagoons will total more than 70 projects in different stages of development and negotiation in Texas. Among them are notable successes developments such as Lago Mar, Windsong Ranch, Balmoral, Hyatt Regency Hill Country Resort San Antonio, and Sunterra", said Iván Manzur, Senior VP of Sales at Crystal Lagoons US Corp.
The United States is the world's main market for Crystal Lagoons, with more than 275 projects in different stages of development or negotiation. Texas has a significant presence, surpassing Florida, California, North and South Carolina, Georgia, and Alabama, with multiple projects, including the Crystal Lagoon amenity.
PAL™ projects offer public access for an entrance fee, providing visitors with a delightful experience centered around a large lagoon powered by Crystal Lagoons® technology, suitable for swimming and water sports and surrounded by white sand beaches. It will also be covered by hotels, residential areas, retail, restaurants, recreational, and entertainment activities.
About Crystal Lagoons
Crystal Lagoons is a US-based company that has developed a technology allowing crystalline lagoons of unlimited sizes to be built and maintained anywhere at very low costs.
With over 2,500 patents in 160 countries, its sustainable amenities use up to 100 times fewer chemicals and only 2% of the energy required by conventional swimming pools. Bureau Veritas verified the technology's efficient water use, concluding that a 1-Ha/2.5-ac lagoon utilizes 33 times less water than a golf course and 40% less water than a park of the same size. Crystal Lagoons® amenities can use sea, fresh, and brackish water, which is abundant and has no other use.
About The Lagoon Development Company
The Lagoon Development Company develops, operates, and owns the ticketed access component of large-scale crystalline lagoons for swimming and watersports. The company contributes to the design, financial feasibility, capitalization, and bottom line profitability of several lagoon-anchored projects in different stages of planning, construction, and operation, including a 2-acre lagoon at Balmoral, the first lagoon to be approved for swimming in the U.S. and a 12-acre lagoon at Lago Mar, the largest in Texas. The company has four additional lagoons in development in Iowa Colony, Cypress, Magnolia, and Dayton, Texas. The Lagoon Development company also provides various consulting services for 3rd party land developers. More information is available at LagoonDevelopment.com.
Contact: [email protected]
SOURCE Crystal Lagoons
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