Luxury hotel company Enchantment Group announced plans to build a 30-room resort with 25 residential condominiums in Punta Mita, a gated resort community on Mexico’s Pacific coast just north of Puerto Vallarta.

The move by the five-star hotel company is in step with the trend of destination spas launching real estate developments. The Enchantment property was just announced this week and few details about the size of condominiums are available. The resort will be designed by Gluckman Mayner Architects, the same firm that handled the design of Enchantment’s Mii amo destination spa in Sedona, Ariz. The Mexico development, the first international project for the Enchantment Group, is expected to be completed in 2010.

While pricing information for the Punta Mita development is not yet available, the condos will undoubtedly be a high-end offering. Enchantment is also gearing up to break ground on the Villas at Mii amo, a collection of three-bedroom, 3,000 square foot homes near the spa which will sell for $2.5 to $3 million.

Punta Mita, a growing gated second home community is already home to a Four Seasons Resort, a Jack Nicklaus Signature golf course, and numerous single family vacation homes. Destination clubs Private Escapes and High Country Club also have homes in the Punta Mita area. The Four Seasons Residence Club has two-, three- and four-bedroom villas for sale in 1/12th slices. And later this year, the St. Regis Resort and Residences will open a 1,500-acre development along with a second Jack Nicklaus-designed course.