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Tuesday, June 15, 2021

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Real estate tourism integrates investments for more than 8 billion dollars

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Jorge Subero Medina, president of the Dominican Association of Real Estate Tourism (Adeti), indicated that the entity made up of 12 companies has invested approximately 8 billion dollars in project development and the creation of thousands of jobs to benefit of the national economy.

Its members are: Cap Cana, Casa de Campo, Grupo Puntacana, Metro, Hemingway, Grupo TerraRD, Grupo Velutini, Playa Grande, Puntarena, Playa Nueva Romana, Rincón Bay and Tropicalia, which provide 17 hotel complexes, three marinas, 28,000 rooms luxury, four equestrian clubs, ten golf courses and some of the best-rated beaches in the country.

For this reason, Subero Medina affirmed that the sector has been fundamental in the economic development of the Dominican Republic and now, regarding the pandemic, it has played a leading role, since the real estate tourism sector has been growing, driving Dominican growth.

He explained that despite the great experience that the country has in tourism, what was done with the entity was to differentiate that one thing is to be a hotel and another is to be the owner of a villa or an apartment.

“Those who come to the Dominican Republic are used to lasting ten days, while the challenge for Adeti’s partners is to convince investors to invest millions of dollars in real estate”, he added.

Regarding the positioning of the Dominican Republic in terms of real estate tourism, he stated that only in the case of Cap Cana, for example, there is more than 500 million under construction and, like Adeti, more than 1,000 billion dollars.

“Investors are mixed. We have people, as we are developers and we have hotel components, those who are making our developments are counting it within the investment. But if you want to live in the Metro, Punta Cana, Casa de Campo or Cap Cana, you buy a villa, and that investment you have made in the plot or villa is also calculated”, he indicated.

Although Adeti is open to more developers, its president explained that initially, they remain a bit reserved. He said that a year ago they decided to make themselves known and consolidate as an association.

“The pandemic made the decision to go out more to be present in the media,” he emphasized when interviewed on the program Dinámica Económica, which is broadcast on RNN, channel 27.

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