Four Properties to be Sold in Prized Dominican Development of Cap Cana

MIAMI, Aug. 14, 2012 /PRNewswire/ -- In what is likely a first for one of the Caribbean's most cherished resort areas, a collection of luxurious properties located in the Dominican Republic's Cap Cana development will be sold at auction by Platinum Luxury Auctions. The auction, which will take place in Cap Cana on September 22, 2012, will feature 4 lender-owned properties, including a grand estate previously offered for sale at $14.8 million.

Platinum, a U.S.-based firm that specializes exclusively in the auction sale of multi-million dollar real estate, will be conducting the auction in cooperation with Great Dominican Estates, a Dominican real estate brokerage. Provaltur International, Inc., an exclusive brokerage affiliate of Christie's International Real Estate, is also participating in the sale.

PUNTA CANA, Dominican Republic, April 6, 2012 /PRNewswire/ -- The white sand beaches, world-class golf courses, all-inclusive resorts and sparkling waters of Punta Cana have long drawn vacationers to the Dominican Republic. But now people are flocking to the Caribbean town in pursuit of something more: a better life.

Jocelyn Hernandez, founder of Punta Cana Lifestyle Real Estate (http://www.puntacanalife.com), is seeing increasing numbers of people buying homes and commercial real estate in Punta Cana. New schools and universities are drawing young families, and the burgeoning international expatriate community offers unprecedented opportunities for businesspeople offering products and services to a growing population.

Cap Cana, Dominican Republic (PRWEB) October 01, 2011
Salamander Hotels & Resorts has been selected to manage Sanctuary Cap Cana, with the goal of making the luxurious Dominican Republic oceanfront resort an American Automobile Association (AAA) Five Diamond award winner.

Effective immediately, the Virginia-based company will manage the magnificent 176-suite oceanfront resort, and adds the property to its exclusive Grand Resorts of Cap Cana collection, which already includes nearby sister properties Fishing Lodge and Ocean Club. The group's new website is http://www.GrandResortsAtCapCana.com.

The Central Bank of the Dominican Republic released the Letter of Intention sent by the administration to the International Monetary Fund (IMF), describing as positive the macroeconomic situation both in 2010 and so far in 2011.

It mentions that for 2011, the situation is better than expected. Likewise, it says that the government is committed to reduce the public deficit by 1% of the GDP each year to help protect the fiscal sustainability and recover the tax space in the context of a growing economy.

Santo Domingo.- Continental China is confident that its "peaceful reunification" with Taiwan will have the support of nations such as Dominican Republic, country with which it also expects stronger bonds and cooperation in key areas including tourism.

Yang Wanming, head of the Latin America Department of China’s Foreign Relations Ministry said that Santo Domingo and Peking should work in the "still insufficient" development of the potential that represents the tourist sector for both countries.

Yang, interviewed by newspaper Listin, said before formalizing relations, China and Dominican Republic can maintain contacts at different levels and carry out programs in other areas such as trade and cultural interchange.

Santo Domingo.- The World Bank published the Doing Business 2010 report which ranks the Dominican Republic in 86th place, out of 183 economies, climbing 16 places, up from 102 in the 2009 report. 

According to Maria Victoria Abreu, of the National Competitiveness Council (CNC), the difference was made by the new Corporation Law (No. 479-08) promoted by the CNC. The new law calls for new modern corporate structures as well as significantly easing company formation, Abreu stated. 

Between June 2008 and May 2009, 287 reforms were recorded in 131 economies, 20% more than the year before. Reformers focused on making it easier to start and operate a business, strengthening property rights and improving the efficiency of commercial dispute resolution and bankruptcy procedures. 

DominicanToday.com, 12 September 2009 

SANTO DOMINGO.- Tourism minister Francisco Javier Garcia affirms that the country's lodging industry is recovering and continues being an attractive "long destination" market, for which new ad campaigns are being created world-wide. 

He said the Central European markets of Austria, Slovakia and Rumania will be covered by a promotion office in Vienna. 

"The perspective for tourism in general are evidently good," since this sector has been the least affected by the financial crisis, the official said, interviewed by newspaper El Caribe. 

He said the figures confirm that the tourist arrivals fell barely 3% in June and July, farm from January's 9%. "What means that the situation been changing favorably." 

Zero crime in Dominican resort regions, Tourism Police chief says 

SANTO DOMINGO.- The crime rate in the in the country's tourism zones has fallen to zero, affirmed Tourism Police (Politur) director Henry Gomez yesterday. 

The official said the reduction took place since January, when the patrols in those zones increased. He said Politur currently has 1,150 agents, but 300 auxiliary police will be added next week. 

Gomez spoke during the launch of Politur's Website www.politur.gob.do, in coordination with the Presidency's Office for Information and Communication Technology (Optic). 

DominicanToday.com, 7 August 2009

Santo Domingo.- The Dominican economy continues sending clear signals of recovery, with increased revenues in June, stability of the dollar's rate and the increase of the loans portfolio, which already surpasses RD$10.9 billion in the first five months this year. 

The commercial banks still have nearly 10 billion pesos to finance small and medians companies, the construction of low income homes, farm production and other sectors which greatly impact the population. 

The series of measures the monetary authorities adopted have made the expansion of credit possible, aimed at making more flexible the policies implemented in the last few years. 

These new dispositions have reverted the credit portfolio's downward trend in the intermediation institutions, expanded to RD$10.9 billion in the second quarter. 

Santo Domingo.- Despite the economic crisis and the A-H1N1 pandemic, Dominican Republic’s tourism continues climbing and the number of foreign visitors grew 2.41% in May. 

Caribbean Tourism Bourse president Felipe Aquino made the affirmation last night during 13th BTC 2009 fair, inaugurated in the capital’s hotel Dominican Fiesta. "Those negative external factors haven’t been able to shut off the lights of hope for our tourism industry." 

Aquino, speaking to a packed salon of tour operators, travel agents, investors, real estate leaders and government officials, hailed the country efforts to diversify the tourist product and to adapt them to the international market’s tendencies. 

He said the contracts and the promotion of tourism have attracted a global market, contributing to the increase and the expectation of a good summer season. 

London.- British Airways is launching new twice-weekly flights to Punta Cana in the Dominican Republic and Montego Bay in Jamaica, reinforcing its position as the airline with more flights to the Caribbean than any other UK carrier. 

The new routes start October 2009 with the airline also increasing services to other Caribbean favorites. According to Richard Tams, head of sales, they are "popular destinations with our customers and it's due to demand that we're increasing the number of flights to the region."
 

The addition of Montego Bay alongside the existing Gatwick-Kingston route makes it easier than ever before for customers to choose their perfect holiday to Jamaica. Customers will also be guaranteed discounts on flight plus hotel packages via the new dynamic holiday packages feature on the British Airways website. 

SANTO DOMINGO.- The Assembly to Reform the Constitution approved several articles on the environment and natural resources, including the controversial Law on public access to beaches. 

The lawmakers based their votes on a special commission report that studied and significantly changed the Executive Branch’s proposal. 

The controversial and previous "Law 305 on coast and seas" is ambiguous when it stipulates the "free access to a swath marked from 60 meters from the high tide mark inland," and largely as unenforceable since the tourism industry spurred the construction of more than one hundred oceanfront hotels which cordon off the beaches. 

 DR and Virtuoso Relationship Means More Travel Experts Selling Upscale Travel in DRSANTO DOMINGO (PRNewswire).- The Dominican Republic (DR) is a preferred destination for luxury according to Virtuoso, an exclusive network of more than 6,000 elite travel specialists worldwide. The network has joined forces with the Dominican Republic (DR) Ministry of Tourism to ensure that savvy travelers choose the DR for premier luxury. 

DR Minister of Tourism Francisco Javier Garcia said, "The DR's alliance with Virtuoso underscores our amazing array of upscale hotels, resorts and amenities that discriminating travelers have come to expect. Last year we welcomed 3.4 million visitors to our lush tropical island and we are committed to attracting more visitors with amazing new resort developments. Now with Virtuoso - and its upscale clientele - we will have a highly-qualified team of luxury travel professionals to help sell the DR to discerning travelers." 

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. 

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Caribbean Property Magazine Home / June 2009

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, h

e 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.