Dubai developer Nakheel, said on Saturday it had agreed to buy 50 per cent of a Mexican resort for $315 million, its first entrance into Latin America.
The company would buy the stake from Whitehall Street Real Estate Funds, managed by Goldman Sachs & Co, it said in a statement on Saturday.
Kerzner International runs the other 50 percent of the 172-room resort in Los Cabos, which works under the One&Only luxury hotel brand, Nakheel said.
"Latin America is very important in the global tourism market," Nakheel Hotels Chief Executive Joe Sita said in the statement.
Nakheel, with operations in North America, Asia and Europe, last month doubled its stake in Australia's Mirvac Group Ltd. to expand its operations in the country.
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