Crystal Lagoons Expands in Australia with 16 PAL™ Projects
MIAMI, Oct. 26, 2023 /PRNewswire/ -- Crystal Lagoons has completed a major expansion in Australia. The multinational innovation company has signed an important contract with investment fund Vibranium Capital Partners to develop 16 new Public Access Lagoons™ projects, also known as PAL™ developments, in Australia. Additionally, the agreement considers the possibility of entering with ten additional projects in other countries in Oceania and Southeast Asia.
Australian cities have been ranked among the best in the world to live in because of their geographical richness and nature. Through this contract, cities like Melbourne, Sydney, Adelaide, Perth, Brisbane, and the Gold Coast will have large crystalline lagoons suitable for swimming and water sports, surrounded by white sand beaches. These complexes contribute new beach hubs, catering to the Australian lifestyle where aquatic activities and entertainment hold a prioritized place.
While these cities are located close to the coast, the projects of Crystal Lagoons will develop second and safer shorelines. They will provide additional tourist infrastructure to the natural beaches that enable people to swim and practice water sports in a secure way, free from the risks of the sea in that area.
The partner in this contract is an Australian investment fund with operations in Oceania, the Americas, and Asia, with more than 30 years of experience and an investment portfolio of US$4 billion. The firm's interest in the PAL™ model is to expand their strategic partnerships and real estate development opportunities in key markets.
Like all public access projects of Crystal Lagoons, the centerpiece is a crystalline lagoon, which can be accessed via ticketed entry. The PAL™ complexes also incorporate restaurants, multifamily areas, hotels, retail, beach clubs, etc.
"Australians love the water and outdoor life. However, as with many tourist destinations worldwide, coastal edges are highly developed, and land is expensive. PAL™ developments offer a successful and sustainable alternative to developing beach and recreational infrastructure in inland areas, giving a larger part of the population access to these recreational spaces," said Alastair Sinclair, Regional Director of Crystal Lagoons.
"We look forward to leveraging our experience under this partnership and the potential of Crystal Lagoons® concepts and technology, particularly in Australia. We will now focus on building partnerships with strategic investors, developers, and landowners in each of the territories to bring these projects to fruition," added a Vibranium Capital Partners spokesperson.
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 at very low costs anywhere.
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 has no other use.
CONTACT: [email protected]
SOURCE Crystal Lagoons
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article