Related International and Chartwell Group Sell Out Tower One of ICON Vallarta...

Related International and Chartwell Group Sell Out Tower One of ICON Vallarta in Record-Breaking Time; Announces Early Release of Tower Two to Fulfill Demand

Allure of World-Class Design by Philippe Starck Draws Group of International Buyers


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Miami, FL–(HISPANIC PR WIRE)–June 27, 2007–Related International and the Chartwell Group today announced the sellout of Tower One of ICON Vallarta, surpassing planned sales objectives for the project’s initial release. It took just three days to sell the first 130 properties offered, generating more than $70 million in revenue.

At a groundbreaking event in Puerto Vallarta, Mexico on Friday, June 22nd, which was attended by more than 500 guests including internationally renowned designer, Philippe Starck, Jorge M. Perez, chairman and founder of The Related Group, announced the success of Tower One and the early release of limited properties in the second tower to meet the current demand.

“The success of the initial sales event of ICON Vallarta exemplifies the emerging trend of international buyers seeking dynamic, exclusive second homes,” said Perez, Chairman of The Related Group. “The ICON has drawn on US and Mexico clientele who have been captivated by Starck’s style and flair.”

ICON Vallarta is an upscale, oceanfront condominium, featuring the world-class design of YOO by Philippe Starck and exterior design by Bernardo Fort-Brescia of renowned architectural firm Arquitectonica. Prices of the one-, two- and three-bedroom residences offered range from the $200,000s to more than $1 million.

The new luxury development by Related International, a division of the Related Group, together with the Chartwell Group, appeals to buyers eager to own a stylish and distinctive brand of Mexican real estate. The resort is situated on just under five acres of oceanfront property located minutes from downtown Vallarta’s world-class restaurants and galleries.

For information visit http://www.iconvallarta.com or call 877-295-4266.

About The Related Group

Established in 1979, The Related Group is the leading builder of luxury condominiums and the leading developer of multi-family residences in the United States. The company is ranked as the largest Hispanic-owned business in the United States according to Hispanic Business Magazine, with a current development portfolio valued in excess of $10.7 billion, and reported sales of more than $3.2 billion in 2005. For more information, contact Jeneissy Azcuy at 305-460-9900 ext 430 or jazcuy@relatedgroup.com. Visit http://www.relatedgroup.com.

Related International and Chartwell Group Sell Out Tower One of ICON Vallarta in Record-Breaking Time; Announces Early Release of Tower Two to Fulfill Demand