Asian resort and spa operator Banyan Tree Holdings is to double its portfolio of properties in Mexico to four resorts, with two new joint venture agreements.

Banyan Tree will invest in, design and operate the 200-hectare Banyan Tree Chamela in the State of Jalisco and the Banyan Tree Los Cabos in Baja California, located on eight hectares of beachfront land and set against the backdrop of the Sierra de la Laguna.

The resort company has agreed joint venture deals with Mexican companies Grupo Megaterra and Mexico Inversiones S.A de C.V. Banyan Tree will take minority equity positions in each of the four projects, which have combined development costs in excess of US$200m (148m euro, £100.7m).

For both projects, Banyan Tree will be responsible for masterplanning and providing architectural and interior design concepts including its signature pool villa and spa.

Completion of both resorts is scheduled for the end of 2009. The two new properties are in addition to the Banyan Tree Punta Diamante in Acapulco and the Banyan Tree Mayakoba in Rivera Maya, which are currently in development.