Murano Global Shares Rise 20% After Exploration of Cruise Ship Port in Mexico

Dow Jones06-10

By Chris Wack

Murano Global Investments shares were up 20% to $10.19 after it signed a non-binding memorandum of understanding with a global cruise operator to explore the potential to develop a cruise port destination on its property in Bajamar, Baja California, Mexico.

The real estate company said the Baja project is situated on the Tijuana Ensenada corridor, 60 minutes from the Tijuana/San Diego border and a few minutes from the beaches of Ensenada, Tijuana and Rosarito.

Murano's plans already included the development of a 370 key all-inclusive hotel and an industrial park. With this addition, the property would be enlarged with the cruise port destination, another hotel of up to 400 keys and a retail village to serve the tourist traffic that would be generated through the cruise port.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

June 10, 2024 10:42 ET (14:42 GMT)

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