What factors motivated you to open a country club in Hidalgo?
Golf is a special sport in Mexico. There are no public golf courses in the country except for those in tourist areas in Puerto Los Cabos, Cancún. Inside Mexico City, and the rest of the country, we only have private clubs. In the US, there are about 26,000 golf courses, while in Mexico, we have around 300. Similarly, in the US, there are about 40 million golfers. In Mexico, we have about 300,000 golfers. We saw this opportunity and decided to open Amanali Country Club & Náutica. We also have a lake, so I usually call Amanali the new Valle del Bravo. Our market is basically Mexico City. Around 70% of our customers are from Mexico City, and we are only one hour away from it. At present, we have about 240 homes and eventually we will have 2,000 homes. We do not sell shares of our club but we offer memberships. So far, we have 400 memberships. Our maximum capacity is 700. Eventually, we will have space for 1,500 members. People started building houses here about five years ago, and we are currently building another 200 homes. We only use Mexican contemporary style in order to keep the same design throughout the golf course. A yearly membership costs USD12,000.
When will the second phase of the country club be completed?
We just started working on phase two. During the first one, we sold 1,000 lots in seven years. In the beginning, 1sqm cost USD75 and now it is around USD350. A house in Amanali costs USD500,000, and the annual maintenance fee is about USD40,000. This is of course a long-term investment.