The Stella Cozumel

The Stella is an ocean-view building on Cozumel’s malecón — Avenida Rafael E. Melgar, the seafront avenue running the length of San Miguel. Seventeen residences in total. The building is still under construction and has not been delivered, and several units have already sold.

The Stella is developed by Diamonds International, the Caribbean’s largest high-end duty-free jewelry retailer, marking the company’s first move into luxury real estate. The building comprises six levels: 14 apartments and 3 penthouses across three floor plan types each, plus two ground-floor commercial spaces anchored by an exclusive boutique collection — Hublot, Diamonds International, Bulgari and TAG Heuer — alongside restaurants and bars. Delivery is scheduled for December 2027.

That combination is the thing to establish before anything else. Buying here means buying pre-delivery: you are committing on plans, a location and a developer’s schedule rather than walking a finished unit. Ask for the current construction stage and the contractual delivery date in writing, and understand what happens if that date moves.

The residences are two, three and four bedrooms, from 144.28 m² to 286.48 m² (1,552 to 3,083 sq ft), with six published floor plan types — three apartment layouts and three penthouse layouts. Every residence faces the sea. We currently list seven of the seventeen: units 302, 303, 304 and 401, and penthouses 601, 602 and 603. Because sales are moving during construction, confirm with us which of those remain before comparing them.

Be precise about the water. Avenida Melgar runs between the building and the sea, so these are ocean-view residences rather than oceanfront — the water is across the avenue, not beneath the balcony. What that separation buys is permanence: the promenade and seawall in front are public land, so nothing can ever be built between you and the view.

Be equally precise about the shoreline. This stretch of Melgar is ironshore — rock, not sand — and it is not walkable into the water. Swimming happens at the beach clubs elsewhere on the island, not from the doorstep. Much of what is marketed as beachfront in this part of Cozumel is this same rocky shore — we set out the difference in what beachfront actually means here.

What the location does give you is the walkable side of the island. You are inside San Miguel — restaurants, the ferry terminal and the shops on foot rather than by car — while facing open water, which the developments south of town cannot offer. This is the west coast, so the sunset is on this side.

The developer’s published starting price is USD $749,103. It is quoted in dollars but set in pesos, so confirm the current figure and the exchange basis at the time you enquire rather than relying on a published number. Price varies substantially across the range: the top penthouse is close to double the area of a third-floor unit.