Press Release from Wavegarden:
From Atlantic Park in Virginia Beach to DSRT Surf in Palm Desert, California, Wavegarden-powered surf parks are delivering exceptional financial returns, driving land value appreciation of up to 10x, and redefining the economics of experiential real estate.
Surf lagoons are delivering up to 9x equity multiples, project IRRs as high as 178%, and land-value gains of up to 10x, according to a new analysis published today by Wavegarden, the pioneering surf-technology company behind the world’s most advanced wave-generation systems. Across the United States and five continents, Wavegarden-powered projects are demonstrating measurable, repeatable impact on property values, investor returns, and destination economics; evidence that surf lagoons are evolving from recreational amenities into a powerful new category of real estate infrastructure.
For decades, large-scale real estate developments relied on anchors such as golf courses, equestrian centers, or spas. Today, as surfing counts more than 35 million practitioners worldwide and continues to grow as a global lifestyle sport, Wavegarden surf lagoons are stepping in as a next-generation alternative, functioning not only as premium experiential amenities, but as commercially independent assets capable of driving traffic, dwell time, and value creation across entire project ecosystems.
Evidence of the Wavegarden Effect on real estate value is now documented across several landmark projects in distinct markets and formats:
1. DSRT Surf, Palm Desert, California, USA
A premier destination resort by Desert Wave Ventures and Beach Street Development, DSRT Surf is located within Desert Willow Golf Resort in Palm Desert, California, in the heart of the Coachella Valley, and opens this summer featuring the largest Wavegarden Cove in the United States.
Its “Turf for Surf” initiative replaced 23 acres of adjacent non-playable golf turf with drought-resistant landscaping to achieve net-zero water consumption. By maintaining a clear distinction between residential ownership and surf park operations, the development preserves the lagoon’s independent commercial performance while enhancing the overall lifestyle proposition that underpins premium real estate values.
Approved for up to 70 surfers at a time, Phase 1 of the development includes the surf lagoon, a beach club with pools and cabanas, pickleball courts, a restaurant and bar, and a dedicated outdoor event space. Future Phase 2 plans include a 139-room 4- Diamond hotel and 57 beachfront villas.
2. Atlantic Park Surf, Virginia Beach, USA
North America first Wavegarden Cove destination, the $350-million Atlantic Park, has repositioned Virginia Beach as a premium, year-round destination, and institutional confidence is already evident: part of the development’s financing was supported by city-backed municipal bonds, a clear signal that the public sector views surf lagoons not as mere sports facilities, but as destination infrastructure capable of driving tourism, economic activity, and long-term urban value. The Wavegarden Cove, operated by Beach Street Development, runs year-round and up to 14 hours per day in peak season, with 97% of guests reporting the intention to return.
A public-private partnership between Venture Realty Group and the City of Virginia Beach, this urban mixed-use development spans over 10 acres, integrating 309 luxury apartments, more than 100,000 square feet of retail and dining, office space, The Sitio boutique hotel, and an entertainment venue operated by Live Nation, all built around a 2.5-acre Wavegarden surfing lagoon as its centerpiece.
3. Praia da Grama, Fazenda da Grama, Brazil
The world’s first surf-centered private neighborhood, developed by KSM Realty and Oscar Segall, delivered a 178% IRR and a 9x equity multiple, with full payback achieved in just three years. Residential lots in the final phase sold at 10 times the price of units in earlier phases, with all 200 lots selling out within months of announcing the Wavegarden lagoon. The lagoon investment represented only 5% of total project cost, the majority financed through residential pre-sales.
“Wavegarden didn’t just add a surf lagoon to Fazenda da Grama, it completely changed the market perception of the development. What had been a slow-moving residential project suddenly became a lifestyle that resonated emotionally across multiple generations. The lagoon with its palm-fringed white sandy beach created a strong sense of exclusivity and demand that translated directly into accelerated sales and a substantial increase in land value.”— Oscar Segall, CEO of KSM Realty & Founder of Praia da Grama
4. Beyond The Club, São Paulo, Brazil
Beyond The Club is on track for a projected 70% IRR and 2.5x equity multiple, and demand has already validated the model: membership is capped at 3,000 titles, more than two-thirds of which sold before the club’s official opening, with a single title now valued at approximately $175,000. Created by KSM Realty, Realty Properties, and BTG Pactual Asset Management, with three-time World Surf League champion and Olympic bronze medalist Gabriel Medina as an ambassador, this high-end private sports and social club launched in 2025 near downtown São Paulo, merging premium lifestyle, surf, sports, wellness, and hospitality across a 70,000 m² destination, a 78- room hotel, nine restaurants, elite athletic facilities, and advanced sports simulators, all built around a 62-module Wavegarden Cove, the largest in the world.
Financially, the project shows how a Wavegarden lagoon can de-risk large-scale leisure ventures: against total CAPEX of approximately $270 million, membership pre sales cut direct capital exposure to roughly $90 million. Its success has already led KSM Realty to plan expansions into several major Brazilian cities, underscoring the scalability and replicability of private clubs anchored by Wavegarden surf lagoons.
5. Wave Park, South Korea
At Wave Park in South Korea, the Wavegarden Cove did more than strengthen the economics, it helped win the opportunity itself. In a competitive public tender, the Wavegarden Cove proved the decisive differentiator that secured the project and positioned the consortium as the preferred bidder for the overall scheme. Developed by Daewon Plus Group, Wave Park opened to the public in 2020 and shows how a Wavegarden surf lagoon can anchor large-scale waterfront regeneration, urban transformation, and tourism growth.
Wavegarden surf lagoons are emerging as a new category of experiential infrastructure, capable of integrating sport, hospitality, wellness, entertainment, retail, and residential components into a single year-round destination environment. Unlike golf courses or passive landscape features, Wavegarden surf parks generate their own commercial revenue, attract repeat visitors, and create the kind of emotional differentiation that is increasingly difficult to replicate.
From an operational standpoint, advantages of Wavegarden’s electromechanical technology are making these destinations increasingly viable at institutional scale: 10x lower energy consumption than any other system, reduced concrete requirements, solar-ready infrastructure, and net-zero water solutions are enabling a new generation of surf parks with a significantly smaller environmental footprint.
What was once considered the improbable vision of bringing perfect waves inland is increasingly influencing how the next generation of mixed-use environments, hospitality ecosystems, and lifestyle destinations is conceived, financed, and built.
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