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Twelve hotel companies show interest in investing in Pedernales

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The general director of Public-Private Partnerships, Sigmund Freund, said that there are twelve companies interested in investing in the Cabo Rojo and Pedernales area, in a project with which the government is committed to tourism development in that southern region of the country.

During his participation in the Madrid International Tourism Fair (Fitur) 2021, the official explained that they are investors from hotel companies from the United States, France, and Spain, among others.

“The hotels will be put out to tender because it will be a project with the private sector as a partner”, Freund said.

In the area, between 12,000 and 16,000 rooms should be built within the framework of the development that the government has planned for the next few years. But it will be a long process.

Freund explained that the Cabo Rojo and Pedernales project is divided into three phases, the total cost of which is around 3 billion dollars.

The first stage, with a cost of around 1 billion dollars involves the construction of at least 3,000 hotel rooms, an amount that is decisive for the construction of an international airport in that area.

“For the airport to make sense, there must be 3,000 rooms for the next three years”, said the general director of Public-Private Partnerships within the framework of the Fitur 2021 fair.

In that first phase of Pedernales, which will begin next July at the latest and will last until 2024, most of the 1 billion dollars that will be invested will be provided by the private sector. Freund assured that, between capital and financing, private companies must allocate between 700 and 800 million dollars in the first part.

“In July we began construction work in Pedernales and that does not stop,” said the general director of Public-Private Partnerships.

At the end of next month, the master plan for tourism development in Cabo Rojo and Pedernales will be ready. At that time, everything that the project will entail, which the government believes will be an example of public-private partnerships, will be announced in detail, Freund said.

“The people of Pedernales can be calm”, said Freund, referring to the plan for tourism development in that region of the southern Dominican Republic.

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