Built to Hold Value
A cheap unit that won’t resell isn’t a deal. Location, design and build quality decide what your home is worth in ten years, so they decide everything we do.
Real estate development and investment firm











WHITEBOX is a real estate development and investment firm based in Playa del Carmen. We develop residential projects and manage investment capital with a focus on long-term value creation.
A cheap unit that won’t resell isn’t a deal. Location, design and build quality decide what your home is worth in ten years, so they decide everything we do.
Plenty of developers can sell a rendering. Fewer can deliver it. We build fewer projects, so each one gets finished properly.
We started as a real estate law firm. Development, legal and capital sit under one roof, so nothing falls through the cracks between purchase and keys.
If a developer won’t put their own money in, why should you? We invest in every project we build, so our result is tied to yours.
Good layouts, natural light and quality materials. The things you notice after you move in, not in the brochure.
Two kinds of people trust us: those who buy our homes and those who invest in our projects. Here is what each can count on.
A home that matches the plans, finished with quality materials and handed over with clean title. And a team that still picks up the phone after you move in.
Your capital is backed by real property and invested alongside our own. Expect realistic projections, regular updates, and a straight answer whenever you ask.
WHITEBOX was built to develop real estate with stronger control over the full process: acquisition, capital structuring, design, construction, delivery, and long term value creation.
We approach real estate through development, investment, and execution. Every project begins with a clear opportunity, a defined capital strategy, and direct control over delivery.
The right land, at the right price, in a location people want to live. If the numbers don’t work, we walk away.
We commit our own capital first, then bring in investors on clear terms, with the budget set before we break ground.
Legal, design and construction stay in-house, so quality, cost and paperwork stay on track.
Every decision is made with the end in mind: a home that is easy to live in, easy to rent and easy to resell.
“The team’s consistency and follow-through gave me confidence throughout the process.”KumarOwner/Investor

Whitebox was founded by Constanza Hinojosa and Serge Zhevelyuk as Whitebox Law, a real estate focused law firm specializing in closing services for foreign buyers in Playa del Carmen.
What began as legal work quickly became a deeper involvement in every stage of the real estate process, from acquisitions and structuring to development and long term ownership.

Just months after launching the law firm, the search for the right development opportunity intensified.
After nearly a year and a half of searching across Playa del Carmen, the team secured the land that would later become Luna Residences.
The early days were built around a small office, late nights, and the belief that development in Playa could be done at a higher standard.
Whitebox Real Estate is officially established alongside the law firm as the company takes its first steps into development.
A new office is opened, the team begins to grow, and Luna Residences starts evolving from an idea into a fully developed architectural concept.
From the beginning, the focus was clear: create projects with stronger design, better materials, and a level of detail rarely seen in the local market.

Construction officially begins on Luna Residences, Whitebox’s first vertical residential development.
Located in central Playa del Carmen, the 16 residence project marked a defining milestone for the company and transformed years of planning into reality.
From structural work to interior detailing, the project reflected Whitebox’s commitment to thoughtful design, quality execution, and pushing beyond the standard.

Whitebox secures land for its second development project, continuing the company’s long term vision for growth in Playa del Carmen.
Whitebox begins working directly with private investors, creating real estate backed investment opportunities and establishing the foundation for the company’s investment activities.
Development, legal expertise, and investor capital now begin operating together as a unified model.
Luna Residences is officially completed and begins welcoming owners into the building.
At the same time, architectural development for the second project is finalized, while Whitebox oversees operations and administration for completed developments.
With development, capital, legal structuring, and operations now working together, the company consolidates under one identity: WHITEBOX.
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