Dear All

I am pleased to announce that I had a meeting with the developer this week where I witnessed the letter from their lawyers in the DR confirming ownership of all plots within the boundary of the Punta Perla project. This letter should allay any fears of the security of our money that we have all invested, as the land is now valued at over $2 billion and has no borrowings, mortgage or lien upon it. Not having to pay interest puts our project in an incredibly strong position and makes it very attractive to would be institutional investors. Incidentally at significant cost to the developer, the same letter was stamped by a notary confirming that the document is legitimate and had been checked by an independent body. A copy of this letter will be sent to all investors within the next week.

At the same meeting I was privy to seeing the construction schedule of the main works for the building of phases zero and one referred to in a previous news letter from the developer. The project is enormous and the organisation behind the scenes to get us this far is just fantastic. I hope to be able to share much of this with you all very soon.

The developers paranoia of not wishing to release information prior to events actually starting is wholly understandable given the delays they have had to endure thus far. There is much envy of a non-Dominican company leading and building out the number one project (as quoted by the new DR Minister for tourism) in the Dominican Republic. We have to avoid any further delays by shielding critical information until it cannot be miss-used in any way.

Like everybody else who has invested in Punta Perla, I too have been tearing my hair out with the frustration and the lack of progress, but please rest assured that what has been going on in the background to protect and progress Punta Perla is incredible. I do appreciate that no matter how many superlatives I use to describe my meetings mean very little to you all until there is evidence of our properties and the project being built. With the labour and resources I am told that are at hand that when full scale construction does get underway that things will move very quickly.

The plan is for the developer (when I say developer, I mean the development company) to arrange a small number of meetings for existing investors to explain the progress of the project so far and to present what we can all look forward to. It is true that communication from the developer has been far from satisfactory from a public perspective, but believe me there have been reasons for much of what has not been communicated. I am sure that in the next month or so that things will improve dramatically in that area.

Once again, on behalf of the developer, thank you all for your patience and I look forward to sharing some more good news with you very soon.

Kindest regards
 
Mark Andrew
Emerging Earth Ltd
12 Eaton Court Road,
Colmworth Business Park,
Eaton Socon,
Cambs
PE19 8ER

Dear Clients

Following on from a very successful meeting with the developer and his team two weeks ago, I am pleased to bring you up to speed with progress on the project and expected timelines. The purpose of the meeting was to discuss some rumours that have been circulating on various anonymous blog sites as well as provide you with an update on the project. I was accompanied by an agent and fellow purchaser, Nick Kier who would also testify to being satisfied with the information placed before us at the meeting.

I must confirm that neither Nick nor I are lawyers and therefore the information I am about to share is simply my opinion though I can confirm that the developer has advised us that he is prepared to provide signed letters supporting our findings from his lawyers. The law firm which the developer uses in the DR is considered to be one of the best and is in fact headed up by Marco Herrera, the Dominican Minister for Investment.  The letters from the lawyers will be available for inspection only and may not be copied or distributed. Should anyone wish to explore any supporting documentation any further then they may go to the relevant public offices in the DR as the documents are a matter of Public Record.

Background

Since getting Punta Perla off the ground there have been a number of factions and individuals who have tried to stall, damage and destroy the project for a variety of reasons. These people have and will continue to fail because the developer has refused to go about his business outside of the law and has stuck by doing things legally and the correct way from the start and will continue to do so until conclusion of the whole project.  It is evident right now that these individuals are trying their level best to cast a shadow over the developer and his good name. Any notion of whether the project is a scam or will happen or not should be completely discarded.

Let’s face it, if the developer were to run off with our money, surely he would have done it by now and not still be around fighting for and driving the project forward in a manner which will make it the best resort project on the planet. If there was any doubt whatsoever that there was anything of any legal question about the project then surely the authorities would have identified it by now and have put a halt to matters. The President of the country has publicly stated that he considers Punta Perla to be the best project in the DR and has complemented Ricardo Miranda for having stuck by his the project when many would have walked away with all of the challenges he has faced and overcome.

Prince Albert II of Monaco is one of the world’s highest profile environmentalists and he continues to support the project because of the significant benefit it will bring to the beautiful Punta Cana coastline as well as the minimal impact the project will have upon the environment. The processes, technologies and building methods employed by Punta Perla will stand as a bench mark moving forward for large construction projects creating a minimal carbon footprint. It is unthinkable that a project as large and important as Punta Perla, with the public backing of its country’s President and that of Prince Albert of Monaco, could be anything but legitimate and in complete compliance with all aspects of design, development and operation.

Let me start off by trying to allay some people’s fears or concerns regarding the ownership of the land. We were witness to what we believe to be all of the relevant and correct documentation which supports that the developer owns all of the plots contained within Punta Perla and that there is NO mortgage or lien of any type upon the land.  Should anyone wish to come and see the letter I am expecting to support this from the lawyers, please let me know and I will arrange an appointment.

Because of the existence of these people wishing to harm the project, the developers team has had to adopt a very cautious attitude towards management and distribution of information, which is why to date that we have been starved of much meaningful news about the project. This is expected to improve in the very near future, so watch this space as there is some very exciting news coming up.

Like everybody, I too have been frustrated with the delays with Punta Perla however remain convinced that we have all invested wisely and can look forward to the benefits of our properties in the course of next year. In some respects, with the current economic climate globally, you could take a view that its delay has actually worked to our benefit. When many tourism based economies have taken a significant tumble in the last two years, the DR continues to grow, which I believe to be down to the beautiful beaches, tropical climate and welcoming people at a fraction of the cost of other “blue chip” islands. It is no secret that the high end tourists who year in, year out have visited the likes of Bermuda, the Bahamas and Barbados are now finding equal standards of accommodation and facilities in the DR for half of the price. The DR continues to attract more tourists every year than any other Caribbean destination.

Progress

So far we have seen the start of the building of the Beach Club and boutique hotel which is expected to be complete in July of this year. Full construction of phases zero and one is expected to start from March onwards and the developer has assured me that he has the manpower and resource to have completed all of our properties and supporting facilities during the summer of next year. The facilities include the first golf course, marina, retail outlets and many other facilities to be advised shortly. I was assured that all finance is in place to build out the whole project and that there are no borrowings upon the land. There are currently three major international banks that will be offering mortgages upon completion. They are: Santander, BHD and one more to be announced later this month.

Once construction is underway I will look forward to sharing a detailed schedule of construction with you all as well as various other snippets to whet you appetites.

The developer was also adamant that our properties would all be delivered with supporting facilities next year and that our project will serve as a benchmark for high end resorts the world over. I am also pleased to report that one of our co-investors has just returned from the DR on his honeymoon. The client is Ben Potter and he has set up his own blog site which reports the good, the bad and the ugly by genuine Punta Perla investors and not protagonists pretending to be investors who do nothing but try to damage PP. As well as discussion, there are recent photos of the project. Ben is a technologist who understands websites and blog sites and has put this one  together so that fellow investors may speak frankly and candidly about the project and try to assist its progress rather than hinder. To register with Bens site,  either scan the front page of your purchase contract with your details on or refer Ben to me and I can confirm that you are a fellow purchaser.

The web link is:- http://puntaperlaforum.proboards.com/

Once again, I would like to take this opportunity on behalf of the developer to thank you for your patience and understanding. I personally am beginning to feel that we can now see the light at the end of what has been a long and dark tunnel. Try to remain positive and in about 18 months or so I am sure that we will all have plenty to celebrate.

 
Mark Andrew
Emerging Earth Ltd
12 Eaton Court Road,
Colmworth Business Park,
Eaton Socon,
Cambs
PE19 8ER

Esteemed Investors and Collaborators,

As part of our efforts to maintain all of our clients updated, and regardless of the fact that we are already planning a more complete issue of our Newsletter after the holiday season, we have put together a little selection of pictures taken over this past month of the construction works in the Punta Perla site that we wanted to share with you.

Specifically, these pictures correspond to the finished on-site technical office on the site and to the current works on the bungalows of the Hotel Boutique and the Beach Club.

Also, we wanted to share with you the new design of our Newsletter, which coincides with the re-launch of one of our websites, http://www.puntaperlasa.com, with a new look and format. This will be a very dynamic site, and it will be frequently updated. We are very excited about this announcement, which comes to show a small part of all the work that is being done by the Punta Perla Golf, Marina and Spa, S.A. team in the last months.

Lastly, we remind you to stay tuned for the next communications, which will be filled with positive and exciting news from different Departments of the company.

We hope you are enjoying a peaceful and relaxing summer together with your loved ones, and look forward to sharing all the exciting advances with you next fall.

PICTURES

OTHERS NEWS

Last July, a meeting took place in the development company's offices in Madrid with various members of Punta Perla's Executive Board, a couple of investors' representatives and two of our main commercial agents, Mark Andrew and Nick Kier.

Midway through the meeting, we all shared a relaxed lunch at a local restaurant before returning to the offices to resume our conversations regarding the project.

Among other things, we explained once again the causes behind the past delays, the current state of the construction works and the exciting future ahead.

The overall impression of the meeting and all the matters discussed was very positive and with a very high level of understanding between all the participants.

ISSUE 4  August 2009

Eva Sotres

Investor Relations Manager

Dear All

I am pleased to inform you that I went over to Madrid with three investors in Punta Perla and met with the development company again on Tuesday 14th July.  The three who came with me had been selected to meet with various representatives and the president of the development company personally and I feel represent a fair cross section of PP buyers. Each of the investors had prepared a quite an extensive list of questions but the underlying messages were:-

•  What's with the delays?
•  When will my property get built?
•  Is this a scam?
•  Evidence of ownership of the land
•  Evidence of build permits and the Confotur
•  Will we get a mortgage when the properties are ready?
•  Why has communication from the developer's office been so poor?   

The meeting lasted for over 6 hours but here is my summary:-

First of all, allow me to explain the background and reasons for the delays which I hope will illustrate to you all why clients are still waiting for properties. I have to be very careful how I write this so as not to compromise the relationship with the Dominican Government, so I hope you understand if I cannot go into too much detail.

I would also like to add that the development company is not just one person and like many companies is made up of an executive board of investors and professionals. Ricardo Miranda just happens to be the President and CEO and like most companies is not the sole decision maker. When significant decisions are made, the board meets, discusses them and then decides which course of action to take just like any other company.

There have been a number of false statements and blatant lies written in a number of newspaper articles and published on various blog sites trying to damage the good name of the Development Company and Punta Perla. These people who are actively trying to destroy our fabulous project will be found out and made criminally responsible for their actions. So as not to perpetuate a tit for tat situation with the newspapers, which would benefit nobody, the development company has not insisted on a public retraction of these articles, rather try and forge a healthy relationship which will work for the better of the project as a whole.

As for the blog sites, it is possible to trace IP addresses and therefore indicate the likely authors of malicious lies and allegations, so those people should be very aware of the legal recourse which the development company is prepared to and will take.

When some of us initially purchased our properties back in 2006 the development company had bought the land outright which comprised of some 81 smaller lots which now form part of the 10 million square metres of Punta Perla. There is not any mortgage, lien or encumbrance of any type on the land which the development company owns outright. We all witnessed the copy of the land title and were duly satisfied as to its authenticity.  We were able to see all the different licensing documents of all the varying government departments, particularly those of land title, building permits, and the Confotur, officially issued by the various departments. The development company welcomes any client or clients´ solicitor to visit or consult with their solicitors offices in the DR to confirm and certify this point. If there remains any doubt (although it is ludicrous to think that the President himself and many other government officials would have been present in the groundbreaking ceremony were all the paperwork not in place) then you are free to fly to the DR and inspect the originals.

Delays

Quite clearly there have been significant delays, which have stopped the project from really getting off the ground from a construction point of view. These delays were purely bureaucratic and in no way could have been avoided by the development company. It is impossible to go into much detail regarding the delays as we would not wish to embarrass any parties who could be of significant assistance in driving the project forward in the future. All of us were satisfied that the explanation given for the delays was accurate and true and that in no way could the development company have avoided them without compromising the credibility and good name of this project.  We were all assured that the development company had acted in the best interest of all parties who have invested in PP. Unfortunately because of the sensitive nature of the reasons behind the delays it has been impossible to explain why we had to endure the delays without creating an unnecessary and embarrassing situation.

I am aware that we were given several deadlines and were subsequently let down on many occasions. There were numerous occasions when we were told that construction would get underway only to get let down. At the time there were no coherent, plausible reasons that Punta Perla would not get the Confotur or the final building permit. This was not the developer pulling the wool over anybody's eyes so much as him being let down time and time again when submitting the Confotur for its last meeting of approval.  The three of us were able to see the letters which accompanied the project documents for the Confotur each time they were submitted, no less than 15 times over the 30 month period. On not one occasion did the development company get a response from the department to say that Punta Perla would not be approved at the meeting.  The project document had been circulated and approved in the rest of the other government institutions, all passing it straight away, all aware of the significant benefit that PP would bring to their country. Punta Perla was only one of dozens projects which were held up for years in getting the Confotur and were prevented from constructing by the previous Minister of Tourism. Since then the department has restructured and Punta Perla Confotur and permit to build from the restructured Ministry of Tourism was issued straight away. This happened back in late October/early November last year.

Because the project was delayed by 2.5 years, clearly in the commercial world there have been many changes in terms of material costs/labour costs, legislation governing building laws, the environment etc, so it was not just a situation of getting the Confotur and instructing the constructors to deploy thousands of men on day one. The whole project had to be re-visited, re-planned, re-costed and re-scheduled which for a development the size of a medium sized UK town does not simply happen overnight.

Given that the delays were outside of the control of the development company, they do fall under the banner of "Force Majeur" which in the DR means for credible reasons outside of the control of either party which in this case the delays clearly were. I have requested a formal definition of "Force Majeur" according to DR law which I will be happy to share with those who wish to see it. None of us in the meeting are international property lawyers, experienced in the Dominican Republic, so we cannot say for sure that what we witnessed was 100% bona fide, but one of the development company´s principle legal advisors who sat in the room with us and who is a senior partner in one of Madrid's leading law firms would. The same lawyer also went on to explain that under international property law that land cannot be sold on legally without informing any "interested" parties and that the liability of those "interested" parties would transfer with the land, although absurd to think that in a project of this size, volume and value, the development company would contemplate such an action, resulting in a loss as opposed to a gain for the company.

Whilst all of the delays were happening the architects and planners were busy re-designing the new Marina which now promises to be the best Marina in the Caribbean and one of the best in the world. The sheer scale, grandeur of the design itself and extensive facilities of the new marina will positively impact the prices of all of our properties.  Although re-designed, the Confotur and all building permits cover the new Marina, so we will have no more delays because of this.

During the course of the meeting, the development company confirmed that construction has now been underway on the Beach Club & Spa & Boutique hotel for nearly two months now and expects it to be completed and ready for occupation towards the end of the year. The Boutique hotel will be made up of 16 villas, which will be designed, constructed and finished in the same manner that we can all expect of our own properties. We were informed that construction on the Marina, Golf Course I and all of the properties in the first phase will commence at the end of the summer, completing in a maximum of 24 months.

Security

Two main questions prevailed regarding the security of the money we have all invested via deposits and the legitimacy of the rental guarantees. The money we have all invested thus far has been put to good use and not sat idle. First of all, some of it was used to purchase the land as well as design, plan and schedule the project. Some will be used to build out the project. Bearing in mind that the land purchase alone was over $400 million, the development company and other investors and board members injected over $300 million of their own cash. With all permits and Confotur in place, the land with all the permits and full project designed was valued about 12 months ago at somewhere between $3 billion and $3.5 billion. If at worst case because of the current economic climate it halved, its new value would still be over $1.5 billion. That is a huge unencumbered asset, making allegations of our money being frittered away absolutely absurd.

The rental guarantee is backed by GEXTUMARSA, which is a wholly owned subsidiary of the development company and is tasked to head up and bring in world class tour operators and agencies to market Punta Perla. Any liabilities held by Gextumarsa are equally held by the development company (so in other words it is not simply a "shell" company who could pack up and run away tomorrow).

I really think that it is very important that as fellow investors we dispel any rumours of PP being any kind of scam, it is not and has been delayed for reasons completely beyond our control. There are a number of investors who understandably are very frustrated and there are a very few who are so miffed that they are considering taking a class action against the developer. Now then I am not a lawyer or legal eagle and know even less about DR Law but I really struggle to see where the development company is actually in breach of his contract with us (fellow investor). The reason that I am saying this is to hopefully prevent anybody engaging into a legal battle which to me looks like throwing good money away. If they were to try and pursue the development company it would have to be in a Dominican court and would be likely to take 4-5 years during which time our properties would be built and rented out. Damaging the project at this stage would do no good other than line the pockets of solicitors who have very little else to do right now. My words are just my observation of the current situation and you really don't have to listen to me if you do not want to. Just do not let your anger for the delays and lack of information cloud your judgement on the reality of the situation now.

I hope this letter gives you a satisfactory snap shot of where we have come from, where we are now and the way forward.

Kind regards

Mark Andrew
Emerging Earth Ltd

My wife and I had arranged to see the Punta Perla construction site less than three weeks before going to Punta Cana. Eva Sotres from Punta Perla Investor Relations reminded us that visits should really be arranged with at least three weeks' notice, but still she was kind enough to book this extraordinary tour for July 22, 2009.

Inside Punta Perla the main road is still not laid. Prior to arriving at the fenced construction site, we checked the workers quarters, which are being built right now.

Workers Quarters 

 Gate

 Office

Inside of the gate we found the portable office and several (I think seven) two and three bedroom villas in different phases of construction.

 Samples

Villas will be serving as a show homes for the project, so if you are arranging a visit at the end of this year, you will be able to stay in one of the villas.

 First Row Villas

On the construction site we met the Supervising Engineer from Punta Perla. His name is Ramon Cos. He was supervising workers from the Dominican construction company Osoria - a large infrastructure contractor builder with a lot of experience and equipment. They have built many bridges, asphalt roads and general infrastructure.

According to Ramon the first villa will be COMPLETELY finished within three weeks.

 First Row Villas

 Second Row Villas

Construction of the Beach Club will start very soon, but will take longer than initially predicted because of the scale of the new project.

Especially difficult and expensive will be delivery of special roof, developed and produced in France. The Beach Club will also house a big restaurant for 200- 300 people. Also according to the new plan Punta Perla offices will be moved from the Club building and located separately.

Excavation of the new Marina is about to start with the coral aggregate excavated from it used to provide cladding for the buildings as well as other building materials.

The first phase of the Marina will consist of the original apartments and star Island and will represent about 1/4 of the total of the whole marina. This is expected to take about 24 months.

The only part of Punta perla which will be open to the general public will be the commercial and retail areas. It's quite different from Cap Cana marina, I think.

All of the living areas and Star Island will be accessible to Punta Perla owners only.

We have seen only about 20 - 30 workers busy with construction, including several people in the office, not hundreds or thousands, but apparently the real construction started just one week before our visit and supposed to pick up.

Supervising Engineer Ramon Cos in his Office

 In the office

We stayed in the Tropical Princess hotel and I don't think we will stay in this place the next time. If you stay in Catalonia Bavaro Hotel, you can still go to the construction site by foot and see that is going with construction and take your pictures from behind of wire fence. But it's much better to arrange an official tour with Eva Sotres, as we did.

Alex Bezborodko

SunnyComfort.com

Dear All

I am pleased to confirm that I met up with the developer last weekend in Spain and was both reassured and comforted by what he had to say about the current position of Punta Perla and the reasoning behind the delays.

Right now I am in the middle of an office move and up until yesterday have been rendered internetless (if there is such a word)for the last few days, so apologies if you have been unable to get hold of me.

Please be aware that I am both sympathetic and understanding to all of you for the delays which we have all had to endure with this project, but from what I have been told it will all have been worthwhile. The developer does recognise that the levels of communication to clients has been far from satisfactory and intends to put this right in the very near future. The delays were caused because of a corrupt government minister in the DR not only preventing us, but another 140 projects in the DR from getting the Confotur, but also in allowing us to go ahead with construction. This minister is no longer in office nor in any position of political strength. Upon getting into office, the new Minister for Tourism arranged immediately for the Confotur to be granted to Punta Perla and to allow construction to get underway.

Construction IS now underway and completion of the first phase which includes the Marina, Star Island and the first Golf course are expected within 24 months. There is enough money in place now to build out the whole of the first phase which includes all of our properties and the supporting facilities.

When construction did originally commence back in January 2007, the previous minister instructed the developer to cease straight away or risk imprisonment of anyone on the site as well as the developer himself. The same minister was also threatening that if construction did commence that the project would never go ahead. The developer of our project has done what no other developers would probably do which is stick by the project 100% within the boundaries of the law to protect our investments and for the good of the project. I have been assured by the developer that the developer owns 100% of the land and that we have all of the permits to build as well as the Confotur. The developer has suggested that all of the documents which prove: Title to Land, Permits etc will be available for solicitors and a limited number of "independent parties" to inspect on the basis of the technicality of these documents. These parties will no doubt report their findings upon some of the forums discussing Punta Perla or even communicate with you directly via email.

I am conscious that there are a number of justified criticisms on forums such as the Singing Pig and they have been noted, however please be aware that there are a number of scaremongers with nothing better to do than try and stir things up who have nothing better to do than put the heebie jeebies up the Punta Perla investors. The developer is now also focused on pursuing anyone who has tried to damage the project through lies and scare tactics with criminal prosecution to make sure that these people get what they deserve.

I am now waiting on a formal reply to the list of questions which were forwarded to the developer of which there were about 95 in total.

I am pleased to inform you that the Dominican Minister for Investment who is the Presidents number two and right hand man is flying out to Madrid today to meet with the developer and accompany him to China tomorrow on a Punta Perla-specific trade mission to meet with would-be investors.

I would like to take this opportunity to thank all concerned for their patience and look forward to communicating some very good news to you all regarding Punta Perla in the very near future.

Kindest regards

Mark Andrew
Emerging Earth Ltd

July 3, 2009

 

 

Access roads

 

IAGTO Awards 2009

CONFOTUR

Resolution

Delays

Mr. Manuel Quiterio Cedeño

Compensation

Force Majeur Clause

Definition of Force Majeure

CONFOTUR

Visits to the Site

Investor Relations Department

Effective immediately, the IRD will be sending out periodic Newsletters updating all official announcements and addressing enquiries regarding the PP project.

To investors and commercial agents, we thank you all in advance for your patience, and we know how important it is that everyone be informed about new developments in a timely manner.

IMPROVEMENTS IN THE PROJECT

Many investors have requested that once again we list our project’s outstanding features for the benefit of all new clients as well as those investors who may be unfamiliar with the reasons why the Punta Perla project is so unique.

It is our goal to emphasize once again the outstanding real state investment that all of you have made by purchasing properties in our exclusive resort project.

Recapping the extraordinary features or our master planned resort, Punta Perla is situated in the exclusive beachfront region of the eastern tip of the Dominican Republic, surrounded by white sandy beaches, crystal-clear waters and thousands of palm trees. This area is one of the most exclusive locations for select ocean view projects and future construction plans would be limited to residential projects only. In addition, the area has easy access to the nearby Punta Cana airport, with only 10 kilometres that separate this airport and the main entrance to the Punta Perla resort. Access from the airport to Punta Perla is via a four-lane motorway (8 kilometres) followed by an asphalted two-lane main road (1.7 kilometres) to our main entrance.

Punta Perla is now fully equipped on the site of each plot with electrical and telephone installations and services, including an Internet connection.

Our location borders the Caribbean Sea to the south, extensive tropical areas to the north, the Laguna de Bávaro Natural Park and the Hotel Catalonia golf course to the east and to the west the Catalonia Golf Country Club and more tropical vegetation.

Finally, we are pleased to report an additional boost to our project and its exclusive nature, since the density rate in Punta Perla is 24 rooms per hectare, even though the maximum allowed by law is 30 rooms per hectare.

STRENGHT AND SOLVENCY OF PUNTA PERLA

All clients and investors must know that their investment is backed by a financially solvent company, owner of a natural prime real state currently valued at 1,500 million dollars.

No financial credits, mortgages or interest payments have been made or used against this prime real state to date.

NEW BEACHFRONT PRICES

The Beachfront apartments offer incredible beach and sea views as well as direct access on to the beach.

The Beach and surrounding areas of the apartments are totally private living and are only accessible to residents and guests on Punta Perla.

Type 1 (Ground or 1st Floor): 1.156.000 $
Type 1 (2nd Floor): 1.267.000 $
Type 2: 1.267.000 $
Type 3 (Ground Floor): 1.171.000 $
Type 3 (2nd Floor): 1.272.000 $
Type 4 (Ground Floor): 1.186.000 $
Type 4 (1st & 2nd Floors): 1.267.000 $
Type 5: 1.108.000 $
Type 6: 1.149.000 $
Type 8: 1.338.000 $
Type 10 (Ground & 1st Floors): 1.308.000 $
Type 10 (2nd & 3rd Floors): 1.429.000 $

NEW MARINA PRICES

La Marina consists of 25 separate blocks made up of 2 & 3 bed apartments, duplex and penthouse apartments, all situated in the private area of the Marina with no public access.

The marina will house over 1.000 private boat moorings capable of accommodating large yachts and motor boats with the Caribbean Sea being accessible via the Marina channel. Purchasers will be given priority to lease these moorings and a waiting list is now open in preparation for their release.

Type 10: 785.000 $
Type 11: 775.000 $
Type 12 (2nd Floor): 770.000 $
Type 12 (3rd Floor): 876.000 $
Type 20: 805.000 $
Type 21: 795.000 $
Type 22 (2nd Floor): 791.000 $
Type 22 (3rd Floor): 901.000 $
Type 30 (2nd Floor): 866.000 $
Type 30 (3rd Floor): 917.000 $
Type 40: 917.000 $
Type 41: 917.000 $
Type 50: 856.000 $
Type 51: 906.000 $
Type 60: 917.000 $
Type 70: 826.000 $
Type 70 (4th Floor): 896.000 $
Type 80: 967.000 $
Type 90 : 856.000 $

NEW STAR ISLAND PRICES

Star Island offers a totally private living area from the rest of Punta Perla. Access is via a private causeway accessible only to residents or guests on Star Island. Complete with a host of private facilities such a world class Spa, Star Island will offer the ultimate in five star living.

Bungalows

The 35 water edge bungalows each include a private mooring.

Bungalows: 1.850.000 $

Apartments

Star Island has 66 apartments and penthouses built to the highest possible standard.

Type 1: 876.000 $
Type 2 (Ground Floor): 855.000 $
Type 2 (2nd Floor): 1.027.000 $
Type 3: 1.109.000 $
Type 4: 819.000 $
Type 6: 849.000 $
Type 7: 897.000 $
Type 8: 1.048.000 $

NEW GOLF VILLAS PRICES

Set around the first of the signature golf courses on Punta Perla, the detached bungalows and villas offer private, spacious and luxurious living, many with direct golf views.

Type VL1: 891.000 $
Type VL2: 620.000 $
Bungalow: 640.000 $

NEW CARIBBEAN VILLAGE PRICES

Surrounded by lush tropical gardens and vast swimming pools, these two-bedroom properties enjoy views of one of the signature golf courses.

Caribbean Village: 405.000 $

NEW GOLF APARTMENTS PRICES

Set around one of the three signature golf courses on Punta Perla, the linked townhouses and poblados offer private, spacious and luxurious living, many with direct golf views.

All set amongst one of the three signature golf courses on Punta Perla, the golf apartments offer a spacious and high standard of living ideal for golf lovers and others alike.

AP5 Type 3.2 : 570.000 $
AP5 Type 5 : 613.000 $
AP5 Type 6 : 785.000 $

AP6 Type 1.0 : 535.000 $
AP6 Type 1.1 : 528.000 $
AP6 Type 2.0 : 522.000 $
AP6 Type 2.1 : 512.000 $
AP6 Type 2.2 : 513.000 $
AP6 Type 2.3 : 513.000 $
AP6 Type 3.0 : 526.000 $
AP6 Type 3.1 : 522.000 $
AP6 Type 4 : 555.000 $
AP6 Type 5 : 570.000 $
AP6 Type 6 : 610.000 $
AP6 Type 7 : 510.000 $
AP6 Type 8 : 550.000 $
AP6 Type 9 : 540.000 $

AP8 Type 2.0: 522.000 $
AP8 Type 2.2: 513.000 $
AP8 Type 3.1: 522.000 $
AP8 Type 4: 555.000 $
AP8 Type 5: 570.000 $

NEW TROPICAL VILLAGE PRICES

The properties are set around a number of communal swimming pools and are close to many amenities with the added benefit of lush gardens, health spa and sports centre, large central pool complex, retail areas, restaurants and bars.

The Tropical Village offers unbeatable value, taking into account the location on this world class development and the extensive range of facilities on one of the Caribbean’s premier resorts.

Area : Mango
Type Perla Blanca: 244.000 $
Type N: 309.000 $
Type Tropical: 321.000 $

Area: Strawberry
Type Tropical: 325.000 $
Type P: 379.000 $

LOCATION OF BLOCKS IN THE NEW MARINA

After receiving many requests for a detailed drawing of the new design of the Marina, you can find a copy of it in the last page of this Newsletter. We have attached a big picture so it will be easier for you to find your specific property.

Please note that the design in Star Island has not changed at all except for the location of the bridge that connects the island to the Marina.

ISLANDS IN THE NEW MARINA

Since we have had some comments from Star Island owners about the presence of different islands inside the Marina, instead of the only one that existed prior to the redesign of the Master plan, we want to clarify that, although the rest of islands will also be residential-only, they will not necessarily enjoy the same high-quality standards of Star Island, so the exclusivity of your properties should not be compromised.

Also, we realised that some investors found it difficult to discern which one of the islands was actually Star Island, so we have highlighted its position in the drawing below.

Punta Perla Golf, Marina & Spa, S.A.

Issue 2 April 2009

Where are we now?

We would like to start by explaining what an extremely strong position we now find ourselves in given the financial turmoil experienced by the rest of the world.

Not only are we fortunate enough to be representing one of the most environmentally sensitive and eco-friendly projects in the world but we have the full support of the DR government which will expedite our progress, removing the typical bureaucratic obstacles which one so often experiences with projects of this size.

Unlike Punta Perla, no other large project in the DR has the Confotur across the whole project. Unlike the rest of the world the DR does not suffer directly from the effects of the sub-prime debacle, and the banks in DR are not experiencing the same difficulties as say in the US and UK.

As you will be aware, the first stone was laid at the end of December!*) by President Leonel Fernandez, accompanied by Prince Albert of Monaco, one of it e world's leading environmentalists whose Foundations support many eco charities around the world. Many other Dominican political dignitaries as well as representatives from various global, Caribbean and Dominican tourist bodies attended alongside many musical, sporting end acting celebrities.

The developer's sensitive approach toward the creation and operation of Punta Perla has captured the attention of many "Green" organizations across the globe.

Environmental issues are not just topical, trendy conversational bullet points but now form the foundation stones of discussion when considering embarking upon projects such as Punta Perla.

(*)Groundbreaking Ceremony Press Dossier available upon request

Mortgages and Insurance

We are currently receiving mortgage offers from leading US Banks located in the DR, such as Banco Popular de la Republica Dominicana, Banco Hipotecario de la Republica Dominicana and Scotia Bank.

Mortgages, which will be in US Dollars, will be for 70% of the purchase price of your property. It is expected that mortgage rates will be between 6 and 7% (based upon today's figures) over a 20-year tenure. It is expected that these rates will drop as the banks see the development progress.

Construction Schedule

Next Steps

We have agreements with two leading Dominican international construction companies, Ozoria y Asociados (www.ozoriard.com) and Carlos Vargas (www.caliche.com.do). These companies are now on site full-time, preparing their own infrastructure prior to commencement of the building of the Beach Club, Boutique Hotel and Spa, which is expected to begin between the end of March and the first two weeks of April. As and when more of the site is released for construction, more International companies will become involved.

Future Steps

Once the first buildings are underway, work on the first golf course including the properties will between the end of April and the beginning of May. Then, construction will commence on the Tropical Village between May and June, and the digging out of the Marina will start between July and August. Completion of the first 1200 units (phase one) will be inside 24 months.

New Marina Design

There have been many rumors about the new design of the Marina, and we would like to take this opportunity to include this small example of the latest design. You can be rest assured that the changes that have taken place will not affect the structure of the Marina properties, and if anything will enhance and improve their location and those in its surroundings

Investor Relations Department

We would like to take this opportunity to clarify that this department is the only reliable source of information regarding the Punta Perla project. We work directly for and with the Developer's office.
Therefore, we urge you to be wary of any information you receive from any other party (either agents, lawyers, investors...)

Eva Sotres (Investor Relations Manager)

March 20, 2009

Santo Domingo.- President Leonel Fernández says that although 2009 may bring many challenges, "Dominicans will emerge victorious thanks to the climate of peace and the investment projects in the pipeline".

He said that while many were predicting that the country was close to the edge and on the verge of an apocalypse, the country would rise to the challenges of the coming year as a result of dreams and hope.

The president made these statements during the groundbreaking ceremony for the Punta Perla project on the east coast of the country. The project involves an investment of US$5 billion and will create 20,000 direct jobs in its first phase. Also present at the event were Albert II of Monaco and project president Ricardo Miranda.

Fernández said that the project at Punta Perla, together with others that are under way, will weaken the effects of the economic crisis that is affecting the rest of the world.

"Thanks to the power of dreams and the power of utopia, today we are able to host the prince of Monaco and to formalize an interchange agreement between Monaco and the Dominican Republic", said the president.

Ricardo Miranda thanked president Fernández and his government for supporting the investment. He said that the first phase would involve the construction of a beach club, the first boutique hotel, the marina and the first golf course. The first hotel is expected to open next year. Punta Perla will also include 1,082 residential units (villas and apartments) and a range of commercial premises. Also present at the ceremony were Labor Minister Max Puig, Public Works Minister Víctor Díaz and Tourism Minister Francisco Javier García.

DominicanToday.com, 30 December 2008
http://www.dominicantoday.com/dr/tourism/2008/12/30/30583/Dominican-president-and-Prince-of-Monaco-launch-project