Torquay Property

Cancún is a coastal city in Mexico's easternmost state, Quintana Roo, on the Yucatán Peninsula best known as the Mexican Caribbean or at the northern section of the Mayan Riviera; however Cancun does not share a similar climate or topography to the Mediterranean. ccording to the Cancún User's Guide by Jules Siegel (an American journalist who has resided in Cancún since 1983), Cancún resulted from a 1967 study by Banco de México to determine the feasibility of capturing more dollars and other foreign exchange through tourism development. Siegel, who was the translator of Fernando Martí's "Cancun, Fantasy of Bankers," explains that although the story goes that Cancún was picked by a computer, it was actually selected after extensive research and exploration by the bank's researchers. Banco de México obtained a $27 million loan from the Inter-American Development Bank to install the first infrastructure. When development was started on Jan. 23, 1970, Isla Cancún had only three residents, caretakers of the coconut plantation of don José de Jesús Lima, who lived on Isla Mujeres, and there were only 117 people living in nearby Puerto Juárez, a fishing village and military base.