Santo Domingo.- Dominican Republic’s economy grew 1.0% in the first quarter, dipping from the same year ago period’s 5.7% growth, said Central banker Héctor Valdez Albizu on Thursday.

He said the fall is the result of "unfavorable" external conditions. "In synthesis, the results of the economy in the first quarter indicate to us that 54% of the economic activities had a positive behavior, whereas the remaining 46% underwent a noticeable decrease."

The official, speaking in an activity of the Dominican Exporters Association (ADOEXPO), affirmed that communications, agribusiness, energy and water, education, health, housing rentals, among other sectors posted strong growth.

In that regard, Dominican Telecom Institute president Jose Rafael Vargas yesterday said that sector posted a first quarter growth of 21.4 percent.

Valdez Albizu also said the accumulated inflation rate in the first quarter was 0.89%, compared with the 2.79 % in the same 2008 period.

DominicanToday.com, 5 June 2009
http://www.dominicantoday.com/dr/economy/2009/6/5/32206/Dominican-economy-posts-10-1Q-growth-prices-climb-089

35 years ago Punta Cana, Dominican Republic was an almost unknown to the rest of the world. It was a very small town in a country dedicated to the all-inclusive resort market. The closest airport was located four hours away, the roads were dusty and in poor condition, there was no life outside the hotels and, there was no golf, no restaurants, and only two hotels existed.

This sound like a formula for tourism growth disaster, yet the warmth and the smile of the service personnel, the beauty of its beaches, the tenacity and vision of a group of Dominican investors and managers contributed to make one of the most popular destinations in the Caribbean.

Continue Reading...
http://www.caribpro.com/Caribbean_Property_Magazine/index.php?pageid=667

Caribbean Property Magazine Home / June 2009

Dear Friend,
 

The front nine of The Pacifica Golf Course at Gran Pacifica is nearly complete. You'll see from the photos below that Tommy Haugen and his team continue to move ahead quickly, creating a wonderful ocean side course. Right now, the first nine holes have irrigation and electronics installed. They are cut, shaped, and seeded. As the summer rains move in, and the irrigation is turned on, it will grow green and be playable later this year.

The grand opening is scheduled for December 1, 2009!

Pacifica Golf Club / Milagro del Mar Charity hole-in-one contest April 2009

Hole 4, Par 3 open for play December 2009

You are among a select group to receive the CEO Special announcing the opportunity to own a golf course home site before the course greens up for play in December. The special Golf Front Properties are on the second nine of the Ruby Course. This nine is also under construction. When the reality of the first nine is apparent to all with eyes in just a few short months, the values on the second nine are set to soar.

Home Sites on the Ruby Course

    * Ruby Course scheduled to finish in 2010
    * Almost ¼ acre, all about 10,000 sq. ft. lots
    * Deferred HOA expense, save several thousand $$$$
    * Closing costs paid if you close before the end of June
    * Build later, resell, or hold to appreciate....your choice
    * Will be valued at $69,990 on July 1st.

Home sites on the first nine are currently priced from $119,900 to over $200,000. The value of these lots should also escalate as the first nine grows in and play begins. If you want to own an "early in" opportunity, a limited number of holes on the Ruby Course are right now priced at only $39,000. Financing is available. If you want a package and plan to resell some or all in the future, then you can own 3 for $99k. And we’ll pay the closing costs if the transaction is complete before the end of June. At the close of business June 30th, any remaining inventory will return to $69,990 with closing costs of approximate $2000. Own now, and save thousands of $$$$ on this select group of home sites.

The front nine are only a few months of grass growing away from play. The second nine, the Ruby Course, are under construction. Know that when the Ruby Course completes, the value of the home sites in this offering should be tremendously enhanced. You may want to take advantage of this phenomenal opportunity.

Be well, and respond with your email commitment today!!

Mike Cobb, CEO
Gran Pacifica Golf and Beach Resort

An audible "buzz" filled the air along the Central Pacifica coast on Sunday, March 29, 2009, as over one hundred and seventy guests arrived at The Gran Pacifica Golf Resort and caught their first glimpses of Nicaragua’s newest 18-hole golf course and luxury condominium development. With the constant sound of waves breaking on the beaches of this 2,500-acre Pacific Ocean resort, guests were treated to fabulous cuisine, a lively band performance and the excitement of witnessing the resort’s first golf event and competition.

The air was hot and balmy, typical of the days before the "green season", while the finest steaks and sumptuous jumbo shrimp sizzled on the open fire all day long. As well, Flor de Caña rum and refreshing Victoria beer were immediately available at every call. The festive mood was enjoyed by the local guests and a multitude of foreign investors/buyers that had flocked to the beach to hear more about the real estate opportunities available at "The Milagro del Mar Beach Club", the newest beach development within The Gran Pacifica Golf Resort and one of Central America’s most luxurious condominium projects to date.

Roger Keeling, developer of The Milagro del Mar Beach Club, and his beautiful wife Carolyn were entertaining potential buyers, foreign ambassadors, business leaders and other local dignitaries, including Mike Cobb, President and CEO of ECI/Gran Pacifica, and Raul Calvet, (Calvet & Associates), both of whom arrived to show their support and enthusiasm for the Keelings’ highly touted condominium resort project.

The Milagro del Mar Beach Club is now under construction, and the first phase of this much-anticipated project includes 52 oceanfront condominiums, two restaurants, a gym, mini-spa, sidewalk café, wine bar and shopping areas. The most exciting feature of The Milagro del Mar Beach Club is the fabulous water amenity that anchors the property.  Boasting two infinity pools, natural waterway, swim-up bar and beach restaurant/sunset terrace, the water feature is designed by the world-renowned design team at Aquatic Consultants, Inc.
 

According to industry professionals, the water feature at The Milagro del Mar Beach Club is unrivaled by any other resort facility in Central America.  Future phases of The Milagro del Mar Beach Club include 56 additional condos and 27 casitas.  According to Mike Cobb, President and CEO of ECI/Gran Pacifica, The Milagro del Mar Beach Club is the "crown jewel" of The Gran Pacifica Golf Resort property and will "raise the bar" for resort projects in Nicaragua.

The Gran Pacifica Golf Resort already contains the sold-out Las Perlas condo-hotel project along the beach and many single-family homes which have been completed and are occupied on a permanent basis.  Upon completion of Phase I, The Gran Pacifica Golf Resort will also include Nicaragua’s first five-star resort hotel, currently in the planning stages, and 27 holes of oceanfront, championship golf. An additional 18 holes of golf are planned for future phases, along with a deep-water, inland marina. The Pacifica Golf Club is currently under construction, and grassing has already begun and a scheduled opening date set for December 1, 2009.

American tourist who got ill while in a cruise ship recognizes Nicaraguan medical care quality.

Nicaragua is beginning to gain ground in the area of health tourism, as its quality was tested earlier this month when an American tourist, who arrived on a cruise, was saved from death after suffering a severe heart problem.

He was James Marsh, who last April 12 was placed in the Intensive Care Unit at Hospital Metropolitano Vivian Pellas, in Managua.

Marsh enjoyed with his wife, Virginia, a cruise trip leaving from Chile to United States.
Upon arrival in Nicaragua, at the beaches of San Juan del Sur, Marsh, 72, suffered a pulmonary and renal edema and loss consciousness.

"These are the kind of situations that if they are not addressed immediately the patient could die," said the head of Cardiology at Hospital Vivian Pellas, Daniel Rivas. Marsh was rushed to the hospital in an ambulance and immediately a specialist medical team took care of him.

The man was admitted to the Coronary Intensive Care Unit, where he underwent medical treatment.  Dr. Rivas told the press that Marsh’s main health problem was caused by hypertension.  He added that in addition to this, the patient has diabetes; he has an aortic prosthesis and is carrying a pacemaker. Marsh also faces problems of chronic renal failure, the doctor added.

"Gradually the treatment applied from the beginning, allowed both the heart and blood pressure to improve day by day” he said.

He also said "if the patient was not quickly intervened with adequate medical treatment, he probably would have died, but fortunately the intervention was successful," added the Nicaraguan specialist.

Quality medical attention as in the first world

Visibly recovered and accompanied by his wife, Marsh said he felt grateful for the quality of care he received in Nicaragua. He even compared the quality of care he received during almost a week, as the one you get in the United States hospitals.

"When I boarded the cruise I never thought I would end up in a hospital in Managua," he said. Marsh expressed his interest in returning to Nicaragua as a visitor and travel to different destinations in this country, to learn from the traditions and historical sites. Marsh left Nicaragua, heading to Los Angeles, California, along with several relatives, including his wife.

In recent years Nicaragua has been working to improve and provide medical service as a tourist attraction, like Costa Rica.

"We feel very happy because we could share both with the patient and the family as we were applying the treatment," concluded Doctor Rivas.

Source: www.laprensa.com

As part of the modernization process of Nicaragua's telecommunications network, we wish to inform you that the Nicaraguan Telecommunications Company (ENITEL) has announced that all land and mobile phone lines in the country will increase from 7 to 8 digits starting Wednesday April 22nd.

As of that date, users will need to add the prefix "2" before dialing a land line, and the prefix "8" before dialing a mobile phone line.

BROWARD MASTER BROKERS FORUM EXPANDS ITS HORIZONS WITH PANEL DISCUSSION AND DINNER SPONSORED BY PALMERA DE CABARETE RESORT & SPA
 
Top Real Estate Agents Discuss Exciting Second-Home Markets in the Dominican Republic and Caribbean
 
Fort Laudedale, Florida (May 20, 2009) - The Broward Master Brokers Forum (MBF), an organization comprised of South Florida's top residential real estate agents, recently held a dinner and panel discussion entitled "Expanding Our Horizons: Selling Overseas".  This event was sponsored by Palmera de Cabarete (the first five-star resort and spa to be developed in Cabarete on the north shore of the Dominican Republic) at the historic Lauderdale Yacht Club.
 
Upon entering the Yacht Club, Master Brokers were treated to entertainment, cocktails and hors d'oeuvres on the club's lovely pavilion.  Carolyn Block Ellert, Broward MBF chair, began the formal program by thanking the guests and sponsors for their participation, and briefly discussed the opportunities that exist for local real estate agents in overseas markets; particularly in the Caribbean.  She then introduced Nancy Harrison, director of marketing for Palmera de Cabarete, and Dean Parsons, the project's director of sales, for a presentation about Palmera de Cabarete and its exceptional locale on the Dominican Republic.  Once completed in 2011, the magnificent $200 million project will be situated on 19.5 beachfront acres in Cabarete, on the north shore of the Dominican Republic.  Palmera de Cabarete enjoys 1,000 feet of private shoreline, part of one of the longest expanses of uninterrupted beach in the Caribbean.
 
A thought-provoking panel discussion followed, moderated by Mark Lunt, director of the Ernst & Young Miami office's Hospitality Group.  The panelists were Jesse Keenan, senior associate with the Adorno & Yoss Development Group, and Darren Law, president and CEO of Palmera de Cabarete.  Master Brokers were educated about the rising popularity of the Dominican Republic, the government's efforts to promote tourism and development, and critical details about conducting real estate transactions in that nation and others in the Caribbean.
 
"With an extraordinary sponsor, a fabulous venue, and a brilliant panel discussion, this was one the finest Forum Dinners in the history of our chapter," said Carolyn Block Ellert, chair of the Broward MBF.  "Our members look to these panel discussions for valuable, cutting-edge information they can't find anywhere else, and this one certainly delivered." 

About Palmera de Cabarete Resort & Spa
The Caribbean's adventure sports capital will get its first luxury resort with the 2011 opening of Palmera de Cabarete Resort & Spa, located on 19.5 beachfront acres in Cabarete, on the north shore of the Dominican Republic.  Valued at more than $200 million dollars, Palmera de Cabarete has attracted a prestigious team of designers and hospitality professionals whose pedigree includes Ventanas al Paraiso in Los Cabos and The Regent Palms in the Turks and Caicos.  Palmera de Cabarete enjoys 1,000 feet of private shoreline, part of one of the longest expanses of uninterrupted beach in the Caribbean.  Plans feature 138 two-, three- and four-bedroom exquisitely appointed designer suites, sized from 2,000 to more than 4,500 square feet and available for purchase.
 
Cabarete, the acknowledged "adventure sports capital of the Caribbean," offers world-class windsurfing, kitesurfing, mountain biking, hiking, canyoning and whitewater rafting.  Just a few hours by air from major North American cities, the ease and availability of direct flights adds to Cabarete's appeal.  The authentic beach village of Cabarete exudes a strong sense of place.  Beachside restaurants and clubs are the stage for a vibrant nightlife with dancing late into the night.  An international mix of visitors and residents join in soaking up the local flavor, and English is widely spoken everywhere. Cabarete promises to be the next Caribbean "hot" spot and the north shore, an emerging upscale destination with brands such as Aman, Nikki Beach, and Buddha Bar Resort staking their flag.  The government has promised $1 billion over the next five years for infrastructure improvements along the north coast and Cabarete in particular.  For more information visit www.palmera-dr.com.

About the Master Brokers Forum
Established in 1993, the Master Brokers Forum is a unique organization comprised of South Florida's top residential real estate professionals.  The MBF provides its members with the opportunity to network and exchange ideas, stay at the cutting edge of the real estate industry and new products, and spearhead the identity of the best of real estate professionalism.  Membership is limited to the region's most successful real estate professionals, and is by invitation only.  The Broward MBF is generously sponsored by Wachovia.  For more information, visit www.masterbrokersforum.com.

Managua -  The Nicaraguan people will this month be closer to the goal of declaring the country free from illiteracy, on the occasion of the 30th anniversary of the Sandinista Revolution.

Sources from the education sector indicated several municipalities are working in that direction, to notably reduce the illiteracy rate. El Castillo, in Rio San Juan department, is among those municipalities to soon accomplish that goal, with a rate likely to be below 3 percent.

May was a successful month, with over 90 municipalities declared illiteracy-free territories, allowing the country to have in July a rate below the one requested by UNESCO.

So far this year, nearly 90,000 Nicaraguans have learned to read and write, and are committed to getting their sixth grade certificate by 2015, an objective announced by Education Minister Miguel de Castilla.

INSIDECOSTARICA.COM, 02 June 2009
http://insidecostarica.com/dailynews/2009/june/02/ca02.htm

Santo Domingo.- Dominican Republic's Social Security Treasury (TSS) reached RD$100 billion (US$2.9 billion) in revenues today, said its treasurer Henry Sahdala yesterday, adding that it's a very significant figure because in the system's the first year, 2003, it collected only RD$1.8 billion.

The goal for 2011 is to double that number, he said, and expects from RD$37 to RD$38 billion for 2009, although the goal is RD$40 billion.

The official said it's impressive that the system already boasts those figures when it turns just six years this month, from the quotas paid by 1.19 million workers, and their employers.

Sahdala said those quotas result from on worker and employer confidence, allowing them to be discounted in the payroll, and noted that it's a combination of a simple, and unprecedented, user-friendly platform that allows easy access to the system.

He said both sectors confide in the Treasury and haven't questioned its seriousness, transparency and efficiency, despite efforts to discredit it, which he didn't specify.

DominicanToday.com, 2 June 2009
http://www.dominicantoday.com/dr/economy/2009/6/2/32175/Dominican-Social-Security-coffer-US29B-and-growing-fast

Dear Readers,

Once again, it is time to bring you some good news from Nicaragua and Gran Pacifica. You'll see the normal sections about business, the economy, tourism, and humanitarian work below the opening letter.  As usual there is plenty of good news to share in these areas with you.  But we'd also like to draw your attention to the theme highlighted in the letter; mainly that development, social responsibility, and sustainability really do go hand in hand when done right.  We want to recognize the incredible support, time, effort and money that our partners, home owners, shareholders, friends, and visitors contribute to this reality.  Two events in March highlight this commitment, the Milagro del Mar / Pacifica Golf Club Golf event and the Braddigan Charity Concert that took place in March.

The first event was the concert which raised funds for the CHESS, Hope and Development Foundation, and the Love, Light and Melody Foundation.   The CHESS project directly benefits more than 1,800 children in Villa El Carmen and Love Light and Melody concentrates its efforts to help children living in La Chureca, Managua’s trash dump. Our many thanks to Kara Westermann and Lindsay Stenberg, who were part of the intern group last year, for their commitment and dedication to the success of the concert. We look forward to making this a yearly event and also to having both of them back here again soon again.  (Link here to photos and details of the event link below).

The second event was a celebration of the near completion of the Pacifica Golf Club course at Gran Pacifica.  Tommy Haugen and his team have been hard at work transforming the rolling seaside terrain into a world class golf course utilizing the ocean and many other natural features.  Roger and Carolyn Keeling, of Milagro del mar Beach Club, co-sponsored a closest to the pin and hole-in-one contest on hole #4 of the Emerald Nine.  Numerous prizes were awarded including golf clubs, golf wear, and a big screen, flat panel TV.  Over 150 attendees participated in the days events which raised $1,500.00 for the Hope and Development Foundation.

Also, we would like to share with you the link to watch the documentary "The Other America" aired on BBC WORLD as a five-part series conceived by the Netherlands Cooperation Service (SNV) together with Rockhopper Productions from London.  This series is being produced to raise awareness about how private companies with sustainable models can help reduce poverty in Latin America. Video link: www.rockhopper.tv/programmes/226# .You will need to choose "Episode #3" once you land at the Rockhopper site.  Gran Pacifica was presented as the best practices example in the region due to its business inclusivity program, which is being developed in partnership with SNV (http://snv-la.org/?idioma=english).

Gran Pacifica Director of Government Affairs, Adiak Barahona, supported the production of the Nicaraguan portion showing examples of how Gran Pacifica work with the local community as business partners, in addition to its philanthropic programs. By talking to workers, farmers, heads of corporations, as well as award winning experts and business persons, this series want to raise awareness about the ingenuity of the people from Latin America. Gran Pacifica is committed to communicate to the local and international public the positive results of its sustainable and business inclusive tourism model.

We hope you enjoy this edition and until the next issue, best regards,

Michael Cobb
Chairman and CEO