Real Estate & Property Investment News in Dominican Republic from Propertyshowrooms.com

Dominican Republic plans property survey

Fri, 20 Jan 2012 00:00:00 GMT

The Dominican Republic is to spend $27 million (£17.5 million) carrying out an aerial survey of several districts in order to create a record of the properties located in particular areas.

Dominican Today reported on the project, with director of the National Cadastre Agency Bolivar Marte announcing that Informatica El Corte Ingles won the contract to conduct the study.

Santo Domingo East, the National District, San Pedro de Macoris and La Romana are the areas set to be surveyed from the air, the publication revealed.

Data about the Dominican Republic real estate covered by the survey will be available on the Cadastre website, while the findings will also be used to establish the correct taxation for the homes and land in these areas.

One of the other aims is to enable users to "obtain an exact evaluation of their properties", the news provider stated.

The Dominican Republic was recently named as one of the top 19 countries in the world to retire to in the International Living 2012 Retirement Index.

Could Dominican Republic property be a good buy?

Tue, 3 Jan 2012 00:00:00 GMT

There are signs that more investors are considering purchasing a property in the Caribbean, one real estate firm has claimed.

International Property Success pointed out that those saving for retirement may even be able to use a self invested personal pension (SIPP) to fund the transaction.

According to the firm, the Caribbean region will see improvements to its infrastructure over the coming few years, as the area adapts to cope with the growing number of tourists visiting the isles.

Buying real estate in the Dominican Republic may therefore be something investors want to consider.

Jon Ainge, director of the organisation, stated: "I believe Caribbean property offers investors an unprecedented opportunity to benefit from not only great mortgage deals, but also another place to invest hard-earned cash sitting in a pension and earning very little."

According to the Doing Business study published by the World Bank and International Finance Corporation in November, it takes 60 days to register a property in the Dominican Republic and the process typically costs 3.7 per cent of the asset's value.

Property investors 'can find bargains' in the Dominican Republic

Wed, 19 Oct 2011 00:00:00 GMT

Investors looking for Caribbean properties may want to turn their attention to the Dominican Republic, after one publication claimed that there are bargains to be had on the island.

Writing for International Living, Len Galvin reported on a speech by Margaret Summerfield at the recent Live and Invest Overseas Conference 2011, where she claimed "very low property prices" can still be found in the country.

Another reason to consider buying real estate in the Dominican Republic is the affordable cost of living, Ms Summerfield added.

In particular, she highlighted the town of Las Terrenas, which used to be a quiet fishing village and is now home to a large expatriate community.

Here, it is possible to pick up a villa or apartment for $70,000 (£44,435), Mr Galvin revealed, as long as you do not mind being away from the beachfront.

Earlier this month, International Living highlighted the low cost of everyday expenses in the Dominican Republic when researchers from the publication interviewed a couple who were living on an average of $66 per day in Las Terrenas.

Bargains 'can be found' for Dominican Republic properties

Mon, 22 Aug 2011 00:00:00 GMT

People searching for a property in the Dominican Republic have been advised to look at areas away from the main resorts if they want something more affordable.

Writing for International Living, Margaret Summerfield explained that Las Terrenas in the Samana Peninsula is one such region.

And she pointed out that just because you are not next to one of the resorts, this does not mean you will have a long way to go to reach the amenities you need.

Restaurants, bars, cafes, supermarkets and other stores are all located here, while it is just a short distance from the beach.

"You can afford a home in the Dominican Republic, even on a modest budget," Ms Summerfield stressed.

The country has a population of approximately 8.5 million people, with 2.5 million of these living in the capital Santo Domingo.

Foreigners who own a home in the nation receive a number of financial incentives, including a 50 per cent reduction on property tax and no charge is levied on real estate transfers.

Brits advised to use currency exchange brokers

Fri, 29 Apr 2011 00:00:00 GMT

Brits looking to buy property abroad have been advised to take advantage of the services offered by specialist currency companies.

Paul Collins, editor at BuyAssociation, said that using accredited organisations will help to protect investors from unexpected currency fluctuations, noting that they can have a "huge impact" on the cost of a home overseas.

"As long as you know what you are investing in and when you will need that cash available, you can fix the exchange rate so that you know exactly how much it is going to cost you, regardless of the exchange rate fluctuations," he explained.

The news could lead to an increase in the number of individuals hoping to purchase property in the Dominican Republic looking to change their money through a currency broker.

It comes after a recent study by insurance firm Aviva found that some 54 per cent of 18-to-54-year olds would consider relocating overseas.

Dominican Republic real estate 'sought-after'

Thu, 10 Mar 2011 00:00:00 GMT

Low prices, great ambiance and easy resale in the Dominican Republic has ensured that the location remains one of the most sought-after segments in the Caribbean today.

According to an article by Stock Markets Review, investors have been heading to the region to take advantage of the favourable business environments, as well as the climate.

In addition, those hoping to buy property in the Dominican Republic will also find that there are a lack of legal loopholes and bureaucratic red tape among the property authorities and administrations.

This, the news provider explains, makes it less cumbersome for buyers looking to make a purchase.

"While other nations have heaped on regulations and levied a great number of taxes on the foreign investors, the Dominican Republic has been clever enough to abstain from doing the same," the article noted.

"The result is a booming business and even better future - both for the investors as well as the property market in the region."

Dominican Republic offers 'great value for money'

Thu, 20 Jan 2011 00:00:00 GMT

Holidaymakers are able to get great value for money when they book a trip to the Dominican Republic, the nation's tourism board has claimed.

Compared to other Caribbean destinations, travelling to the Dominican Republic is relatively inexpensive Gustavo Candelario, assistant director at the Dominican Republic Tourist Board, said.

Indeed, the region's affordability has led to an increase in tourist numbers in the past five months.

"People are realising how good value for money the Dominican Republic is because you can spend a fraction of what you would spend going to another destination in the Caribbean and you will get even better quality for your money. It is a fantastic deal," he said.

Among the attractions on offer are "picture perfect" beaches and the chance to go on excursions to rum distilleries and cigar factories.

The news may lead to an increase in the number of people looking to buy property in the Dominican Republic, with many attempting to take advantage of the buy-to-let market.

Dominican Republic boasts strong economic growth

Sat, 23 Oct 2010 00:00:00 GMT

Strong economic growth is making the Dominican Republic more attractive as an investment destination, it has been suggested.

Global Property Guide has reported the International Monetary Fund’s prediction that the Caribbean country is forecast to post economic growth of six per cent for 2010.

Realtor Josefina Covents, of Josefina Covents y Asoc estate agents, anticipates that the housing market will grow next year on the back of this.

She told the news provider: “We in the Dominican Republic were some of the last ones to feel the global crisis, so we’re some of the last ones to come out of it.”

“Property prices have had ups and downs this year as a result of people needing money. But a lot of owners are saving their property to put on the market next year, when they can sell it at the price they want.”

On top of the strong economic growth, the Dominican Republic is also the number one holiday destination in the Caribbean, something which is likely to attract buy-to-let investors.

Indeed, so far this year there has been a 3.9 per cent increase in tourist arrivals compared to 2009, the news provider reports.

Low-budget buyers will boost Dominican Republic property market

Thu, 3 Jun 2010 00:00:00 GMT

The Dominican Republic property market is likely to benefit from a resurgence of low-budget buyers, Property Abroad has predicted.

Real estate investors looking to the Caribbean destination will be able to take advantage of the market's low prices and value for money.

The news provider claimed that a change in demographic of buyers - from wealthy individuals to lower-income lifestyle purchasers - would be a positive thing for the Dominican property market.

"Along with the Venezuelan island of Margharita, the Dominican Republic offers the lowest priced property in the Caribbean," Property Abroad claimed.

"Now that things are recovering, people will be keen to get in and buy while things are still slow, in the hope that a lower offer may be accepted."

Furthermore, property investors looking to take advantage of the holiday rental market in the country will be encouraged by news that the region has been enjoying monthly increases in tourism numbers since September 2009.

According to minister of tourism Javier Garcia, USD12 million will be invested in the infrastructure of the destination in the next few years.

Dominican Republic tourism is on the rise

Mon, 26 Apr 2010 00:00:00 GMT

Property investors in the Dominican Republic will be encouraged by news that the region has been enjoying monthly increases in tourism numbers since September 2009.

Speaking at the Dominican Annual Tourism Exchange, minister of tourism Javier Garcia revealed that the industry has been enjoying success in recent times.

In addition, Mr Garcia used the conference to commit to the long-term future of the island, announcing a USD12 million investment in improving its infrastructure.

The ministry of tourism will be undertaking a total of 58 new projects in the country, including improving the accessibility of the country's airports and improving the quality of its roads.

"Visits to the Dominican Republic held steady throughout the global economic crisis and recent data shows a continued and increasing surge of arrivals since last fall," he confirmed.

"Our strong marketing outreach and continued investment in Dominican Republic tourism infrastructure has built momentum from our key markets and is creating new markets."

Real estate portal Property Abroad recently claimed that the Caribbean destination would see an increase in investors because of the financial insecurities in the EU.

Dominican Republic property market 'still strong'

Mon, 22 Mar 2010 00:00:00 GMT

Wealthy property investors are heading to the Caribbean as many individuals travel to the archipelago in search of a better quality of life and tax situation, Overseas Property Professional (OPP) has reported.

The news could mean that the housing market in the Caribbean's second largest nation, the Dominican Republic, is likely to see a rise in the number of people looking to purchase property.

One agent in the region has reported a massive growth in enquiries of 40 to 50 per cent during the month of January compared with 2009.

Walter Zephirin of 7th Heaven Properties told the website that homebuyers are able to take advantage of the fact that the market has not dipped like many others in places like Spain or the UAE.

"A lot of proposed developments never happened because of the crash and this has helped keep property scarce and so maintained prices," he added.

Furthermore, OPP cites a number of programmes present in the Caribbean that allow potential investors to become citizens of various countries as one reason there has been a rise in the number of interested parties.

Dominican Republic to benefit from insecurity in the EU

Fri, 5 Mar 2010 00:00:00 GMT

Growing fears from European investors about inflation and currency devaluation will have a positive affect on the Dominican Republic property market, it has been claimed.

According to property portal Property Abroad, the Caribbean destination is set to see an increase in the number of investors looking to put their money into assets like houses.

The portal states: "The Caribbean is a favourite with these buyers because it is seen as being one of the few regions that has remained largely insulated from the global financial infrastructure."

It goes on to explain that because property prices in the country are relatively low it will attract a new breed of buyer with slightly less cash and a desire to invest their savings.

Furthermore, new government guidelines alongside a growing tourism market make the island an ideal place to rent and even witness gains in property value.

Last October, British Airways increased the number of flights which it offered to the country to keep up with increasing demand from holidaymakers.

Dominican Republic could see rise in 'budget' investors

Tue, 26 Jan 2010 00:00:00 GMT

Low-to-mid budget property investors returning to the market are likely to have a positive effect on property sales within the Dominican Republic, it has been claimed.

According to property portal Property Abroad, the Caribbean island will benefit from the strengthening international market recovery in 2010.

The longer the recovery continues, the website states, the more confident investors will grow, with low budget developments predicted to be the most popular among individuals with not quite so much money to spend.

"Those buying in 2009 were predominantly the better off among society," it notes.

"Dominican Republic property is still the bargain of the Caribbean, and still has one of the fastest growing tourism sectors."

Something that could appeal to individuals looking for property.

In October last year BA decided to launch a twice-weekly service to the Dominican Republic to cope with the increasing demand of holidaymakers wanting to visit the island.

Dominican property market attracts tennis superstar

Wed, 5 Aug 2009 00:00:00 GMT

The Dominican Republic has attracted one major tennis star to its shores, it has been reported.

Rafael Nadal recently purchased a property on the island, according to TennisTalk.com.

Nadal's holiday home is reportedly situated in a resort that has seen investment from the Spanish property industry.

He will be spending breaks away from the tennis world at the site, which features golf courses and tennis courts, as well as being situated close to the beach.

The website asserts that the resort is 45 minutes away from Santo Domingo international airport, making it a convenient spot for the former world number one professional tennis player.

The Dominican Republic offers a range of attractions for sports lovers and non-sporty people alike. The island is great for boating, surfing, diving and windsurfing.

For less energetic people, the arts and cultural side of the island may be more appealing. With music festivals, museums and archaeological sites, there is sure to be something for everyone.

Growth tipped for Latin America and Caribbean

Wed, 22 Jul 2009 00:00:00 GMT

The Latin America and Caribbean region will start to see an economic recovery beginning later this year, it has been predicted.

A study by the Economic Commission for Latin America and the Caribbean (Eclac) has forecast that the economies of this region will see a fall in gross domestic product of 1.9 per cent this year, but by the latter months of 2009 the beginnings of recovery will be evident due to the "normalisation of financial markets and better perspectives".

This will translate into a growth rate of 3.1 per cent in 2010, Eclac projected.

Such figures may interest those thinking of buying property in Brazil, Panama or the Dominican Republic.

One property buyer who has recently bought a property in the region is triple gold medal-winning Olympic cyclist Sir Chris Hoy.

The Scotsman, who normally trains in Manchester, has bought a home in the country, explaining to the Daily Telegraph that it is "ideal for my purposes" as a place to train and enjoy holidays.

Dominican Republic in possible property gain from flu

Mon, 18 May 2009 00:00:00 GMT

The Dominican Republic has seen bookings for holidays rise in the wake of the swine flu outbreak in Mexico, it has been reported.

Owner of Thompson Holidays TUI has said that the number of holidays to the island has increased by 19 per cent since the start of the health crisis, with long-haul tourists deciding to switch destination instead of cancelling their holiday plans.

Egypt is another gainer, with a 23 per cent rise, the Daily Telegraph reported.

Such a situation may benefit the Dominican Republic by increasing its exposure to tourists, many of whom may be keen to come back for more holidays or to buy property.

Those investing in property may be able to rent this out to more visitors in the future as a consequence.

Another factor that could be significant in developing the holiday and property sectors on the island is eco-tourism.

Last month minister for tourism Francisco Javier Garcia told the island's annual tourism conference that the government wanted to encourage the development of this particular market.

Dominican Republic pursues eco-tourism agenda

Tue, 28 Apr 2009 00:00:00 GMT

The Dominican Republic's (DR) government has said it is looking to increase eco-tourism on the island, something that may interest investors in property.

Speaking at the nation's annual tourism conference, minister for tourism Francisco Javier Garcia commented that the plan is to make the country the destination of choice for those wanting greener holidays.

He stated that along with the development of infrastructure such as new roads to serve holiday areas, there will be an "even deeper commitment to ensuring that the natural beauty of the DR is sustained for generations to come".

There will also be significant initiatives involving the establishment of well-lit urban spaces in the cities of Punta Cana, Puerto Plata, Santo Domingo and Samana, he pledged.

Such moves may prompt some to consider investing in the tourist property sector in the country.

Last month the Dominican president Leonel Fernandez told a meeting in the country organised by the Economist Group that the island is coping well with the global financial downturn and that this year will see three per cent economic growth.

Such a trend could help boost the property sector in the Caribbean nation.

Dominican Republic 'coping well in downturn'

Mon, 23 Mar 2009 00:00:00 GMT

The Dominican Republic's economy is coping better than many others in the face of the world downturn, the country's president has said.

Leonel Fernandez told a meeting organised by the Economist Group this week that their prediction of one per cent growth for the country's gross domestic product will be exceeded, with the island actually achieving three per cent.

Such growth could help bolster the property market in the Caribbean country.

Tourism has held up better than expected, President Fernandez stated, comments that may interest those looking to invest in holiday lettings.

In an article on the Dominican Republic's tourist appeal, the Baltimore Examiner listed a number of "wonderful" places to explore.

These included Boca Chica with its lagoon, white sandy beaches, watersports and scuba diving, La Romana, which it stated is "considered by many to be without equal in the Caribbean" and Santiago, located in the country's main cigar producing area.

Haitians have 85% of Dominican construction industry jobs

Mon, 12 Jan 2009 00:00:00 GMT

SANTO DOMINGO.- Dominican Engineers, Architects and Surveyors Guild (Codia) president Arturo Pichardo affirmed that 85% of the workers in the construction industry are Haitian...

Spirit Airlines expands Caribbean network with new service to Santiago

Fri, 9 Jan 2009 00:00:00 GMT

Miramar, Florida.- Spirit Airlines today announced that it is further expanding its Caribbean route network with the introduction of new service between its Fort Lauderdale home and Santiago, Dominican Republic. Beginning June 18, 2009, the ultra low cost carrier will offer four weekly flights to Santiago, Dominican Republic from Fort Lauderdale, including connections from 16 cities in the United States.

Dominican Republic emerges as top holiday destination

Tue, 30 Dec 2008 00:00:00 GMT

The Dominican Republic has emerged as a popular destination for Britons looking to holiday further afield, new research has revealed.

According to findings from Thomson and First Choice, the country - along with the US state of Florida - is set to be one of the top long-haul destinations for holidaymakers over the coming 12 months.

And the research also revealed that many Britons consider annual summer holidays to be a necessity rather than a luxury, with 88 per cent stating that they would make cutbacks in other areas in order to afford a trip abroad.

Such news may be of interest to those considering buying property in the Dominican Republic, as they could see an increase in the number of holidaymakers wishing to rent a home for the duration of their stay.

The country was recently identified as being ideal for property investment by Ayendy Marte of developer Group G & S, who noted that the Dominican Republic's economic growth has helped promote the construction of new homes.

Fernandez to speak on the global crisis on Monday

Thu, 4 Dec 2008 00:00:00 GMT

SANTO DOMINGO.- President Leonel Fernandez will address the country next Monday, to speak about the world’s financial and economic crisis and about the measures the Government is taking to ease the impacts it’s expected to have in the Dominican Republic...

Exchange houses claim discrimination

Thu, 4 Dec 2008 00:00:00 GMT

The placement of dollars channeled through financial institutions and without the participation of the currency exchange agencies that act within the market constitutes a privilege by the Central Bank that favors one sector in prejudice of another.

This is the opinion of Augusto Peignand, the president of the Dominican Association of Money Exchangers (Adocambio), as he questioned the fact that the monetary authorities did not take the exchange houses in to account for the latest injection of dollars that was announced by the Central Bank and that was said to be between US$50 million and US$100 million.

Peignand said, "We were not involved and we do not know why; we barely knew of the injection through the press, when we understand that we should all be called in." Peignand said he was trying to get the Central Bank to explain why the exchange houses had been excluded from the distribution of the dollars. He said he felt that as a part of the regulated agencies in the market, they should have been allowed to participate on an equal basis with the financial institutions in order for the sale of dollars to be more equitable, especially if this were to be done based on the amounts handled by each sector.

Some economists questioned by Diario Libre reporters on this issue said they also understood that with the opening of all of the sectors dollars could be sold at better prices and as a result, the authorities obtain greater profits.

Legislator and president of "Comercializadora de Capitales" currency exchange company Alberto Atallah indicated that they were not convened despite the fact that new injections of dollars have always been an open matter. He said, "I understand that when the injection-of dollars-is made in an open way, there is a greater effect because it is not the same thing when you reach 30 intermediaries and they reach a much greater group of clients in medium-sized operations. This, logically, creates a greater impact, because people see that there is a flow of money, and you can put a halt to what could be, not speculation, but rather expectations."

Echoing Atallah's statement, another six representatives from the exchange sector said that they had not been informed about the injection of dollars and they wondered why the Central Bank had excluded them. Although Diario Libre tried to get an explanation from the Central Bank, as of yesterday it was not forthcoming. The economist and member of the PRD party's policy commission, Andres Dauhajre, emphasized the discretional powers that the monetary authorities have over the process of injecting dollars, although he understands that the ideal thing would be equal distribution across the entire sector.

When he was questioned about the way that the monetary interventions were carried out, he answered, "What is perceived is that the Central Bank uses an inefficient mechanism that loses them money." He explained the "we are dealing with placing dollars at a below-market rate and when the Central Bank purchases dollars, they do it more expensively, and this difference generates a loss in the exchange of money for the Central Bank."

Dominican Republic has a Law on International Financial Zones

Wed, 3 Dec 2008 00:00:00 GMT

SANTO DOMINGO.- The Chamber of Deputies passed the bill that creates International Financial Zones in certain geographic demarcations in the Dominican Republic, including a legal framework for its operations...

Ruling party mulls motorway to link Dominican east

Tue, 2 Dec 2008 00:00:00 GMT

Santo Domingo.- The ruling PLD party’s Political Committee (CP) last night heard information from different commissions, and discussed the denunciation by former Tourism Minister Felix Jimenez cost of the Coral motorway has been ballooned...

Dominican hoteliers brace for impact, look beyond

Mon, 1 Dec 2008 00:00:00 GMT

Santo Domingo. - Dominican hoteliers know they won’t escape the global economic crisis, but are confident that they will manage that lull in visits and strive to bolster advertising the country abroad, said a source quoted by in the industry...

Fewer visitors should “seriously concern” Dominican tourism industry, ONG says

Mon, 24 Nov 2008 00:00:00 GMT

Santo Domingo.- The arrival of international tourists to Dominican Republic fell 11%, from 234,709 in October last year to 209,616 the same month this year, said the nongovernment organization Quisqueya Foundation, which affirms that the decline should “seriously concern” the Dominican tourism industry...

Dominican diaspora pioneer town wants progress now

Thu, 20 Nov 2008 00:00:00 GMT

BAITOA, Dominican Republic.- Hundreds of residents of the Baitoa Municipal District yesterday visited Congress to urge lawmakers to pass the Law granting it the status of Municipality as soon as possible, noting that the studies and evaluations conducted over two years concluded that the community meets all the legal requirements and conditions to obtain the status of a city...

Environment chief expects Dominicans to support his actions

Wed, 19 Nov 2008 00:00:00 GMT

Santo Domingo. – Environment minister Jaime David Fernandez Mirabal said he hopes Dominican society will support his actions to defend the natural resources and will support that agency’s employees who work to conserve the country’s protected areas. “I’m repeat offender of hope. I have hope for Dominican society and we have reason for optimism. This is a collective answer to preserve, to strengthen and to rationality take advantage the natural resources we have in the country.”...

Dominican Republic airfares plunge as much as 20%

Tue, 18 Nov 2008 00:00:00 GMT

SANTO DOMINGO.- Airfares to Miami, New York and Spain have become 10 and 20 percent cheaper in the last few days due to the start of the high tourist season and lower fuel prices...

Dominican Republic expects 22% more cruise ship tourists

Tue, 18 Nov 2008 00:00:00 GMT

SANTO DOMINGO.- The Boudicca Cruise’s arrival in Santo Domingo Port on Saturday marks the start of Dominican Republic’s 2008-09 cruise ship season, expected to draw through two terminals in the capital city 82,000 tourists, or 22 percent more than the last season...

Dominican Republic Named 'Golf Destination of the Year'

Tue, 18 Nov 2008 00:00:00 GMT

Marbella, Spain (PRNewswire via COMTEX).- The Dominican Republic (DR) was named the "Golf Destination of the Year for the Caribbean and Latin America" by the International Association of Golf Tour Operators (IAGTO)...

Punta Cana Resort inaugurates Taino Underwater Park

Wed, 12 Nov 2008 00:00:00 GMT

Santo Domingo.- The destination Punta Cana Resort & Club took the first step to create the Underwater Park Igneri / Taino, in Playa Bonita, with the laying of the first two sculptures of a total of 12 that will complete the exhibit...

San Cristóbal-Baní highway construction continues at good pace

Tue, 11 Nov 2008 00:00:00 GMT

SANTO DOMINGO. - Construction of the San Cristóbal-Baní highway continues at a good pace, as equipment, technicians and workers are busy throughout the route, having finished spans and removing surface layers to conclude the asphalting...

World Bank praises Dominican Republic’s tax reform push

Tue, 11 Nov 2008 00:00:00 GMT

Washington, D.C.- A worldwide tax reform movement is building up steam, with the reduction of corporate income taxes the most popular measure adopted over the last year...

Inflation back to single digits

Tue, 11 Nov 2008 00:00:00 GMT

The Central Bank reports that the consumer price index variation in October was 1.05% less than in September. According to the Central Bank, accumulated inflation so far this year (January-October) is 9.6%. The CPI is reflecting the decline in the price of fuel on the local market...

Dominican President congratulates Dubai World

Sun, 9 Nov 2008 00:00:00 GMT

Dubai.– Dominican president Leonel Fernandez highlighted the development strategy followed by Dubai World and its companies and...

Dominican President attends World Economic Forum in Dubai

Sat, 8 Nov 2008 00:00:00 GMT

Dubai.– Dominican president Leonel Fernandez attended the opening of the World Economic Forum in Dubai, which ends tomorrow and had an inaugural speech by Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai.Speaking at the start of the Global Agenda Councils’ sessions...

Landmark case may test Dominican zoning law enforcement

Thu, 6 Nov 2008 00:00:00 GMT

SANTO DOMINGO.- The Court for Municipal Matters in greater Santo Domingo’s Luperón avenue today resumes the hearings in the lawsuit filed by the Los Cacicazgos Neighborhood Board, against the builders of the luxury highrise Torre Plata...

Dominican Republic President arrives in Dubai

Thu, 6 Nov 2008 00:00:00 GMT

Santo Domingo.- President Leonel Fernandez arrived last night in Dubai, in the United Arab Emirates where he’ll meet with the Sultán Amhed Bin Sulayem, government officials and with prime Emirates minister and vice-president Sheik Mohammed Bin the Maktoum....

France wants to boost 130M Euro yearly trade with Dominican Republic

Thu, 6 Nov 2008 00:00:00 GMT

SANTO DOMINGO.- France ambassador Roland Dubertrand said his country is interested in boosting trade with the Dominican Republic, as part of the economic association agreement with Europe, signed October 15...

Dominican Republic, Qatar sign pacts on tourism, energy

Tue, 4 Nov 2008 00:00:00 GMT

Santo Domingo.- Dominican Republic and Qatar today signed three letters of intent in the areas of tourism, energy and ministerial cooperation, in a ceremony with Dominican foreign minister Carlos Morales Troncoso, and his par Hamad Bin Jasim Bin Jabir Al Thani, who’s also Prime Minister of Qatar...

Dominican Republic 'ideal for investment'

Mon, 3 Nov 2008 00:00:00 GMT

The economic situation in the Dominican Republic has been hailed as the reason for a new property investment taking place.

Speaking at the launch of the 25-storey Las Arenas residential tower in Juan Dolio, Ayendy Marte, of developer Group G & S, said: "The country's economic growth is ideal for investing in Juan Dolio."

He added that the climate, proximity to the sea and the quality of local golf courses all made it a prime holiday location.

Las Arenas has accommodation varying from one-bedroom loft apartments to penthouses, with the cheapest properties priced at USD210,000 (GBP130,000).

Those interested in the Dominican market may consider investing there in the light of the tourism potential the Caribbean island possesses.

Minister for tourism Francisco Javier Garcia is launching a new tourism strategy to help bring more visitors to the island, the tourism ministry announced last week.

Latin America isn’t sure how to solve crisis, Dominican leader says

Fri, 31 Oct 2008 00:00:00 GMT

San Salvador.- President Leonel Fernandez yesterday said the world is in a deep and severe financial crisis, that has become an economic crisis that Latin American nations aren’t sure how to solve i...

Ecotourism can boost Dominican development, expert says

Mon, 27 Oct 2008 00:00:00 GMT

SANTO DOMINGO.- The Dominican Republic can develop a new "model of consistency tourist" to properly exploit the virtues of protected areas by offering the different tourist establishments in high-and low-density luxury, to join ecotourism activities and neighboring communities to integrate and participat...

Dominican tourism minister to launch vision

Mon, 27 Oct 2008 00:00:00 GMT

The tourism minister of the Dominican Republic Francisco Javier Garcia is to publicly launch a new strategy to attract more visitors to the island, the Dominican Republic Tourist Board has stated.

Mr Garcia will be at the World Travel Market next month to showcase the plan, which will involve an increase in the number of hotels, marinas, cruise ports and golf resort developments.

Stating that the plans will take the industry "into the next decade", Mr Garcia said: "In the years to come, we will enhance the well-planned tourism growth that has provided positive economic impact while also preserving our large island’s natural beauty."

The tourism board stated that 220,000 Britons come to the country each year.

One place in the country that may be set to become a major tourist resort is La Terrenas.

Mr Garcia recently lifted a ban on new development in the town, suggesting that in time it could be turned into a "model" resort.

Developers eye Samaná as the Caribbean version of St. Tropez

Sun, 26 Oct 2008 00:00:00 GMT

Santo Domingo.– The beach town of Las Terrenas, already home to a community of European expatriates, is part of the Samaná peninsula...

Dominican Republic hailed as better place to do business

Thu, 23 Oct 2008 00:00:00 GMT

In news that may interest those thinking of buying property in the Dominican Republic, a new report has said the country has improved as one in which to do business.

The World Bank Doing Business study of 181 economies around the globe gave the Caribbean island a ranking of 97 for 2009, up 13 places.

Property development was one of the areas that saw improvement, with the ranking for the registration of property rising six places.

The cost of this undertaking fell from 5.1 per cent of the average property value in the 2007 and 2008 rankings to 3.8 per cent.

Such news follows recent data from the ministry of tourism that show visitor numbers to the island have risen.

It stated that the first half of this year saw a 6.55 per cent increase in tourists, something that may interest investors keen on buy-to-let tourist property.

The figures revealed that five per cent of tourists to the country in the first six months of 2008 were British.

Bonao houses

Mon, 15 Sep 2008 00:00:00 GMT

The Dominican government agreed to a new distribution of the 100 homes in Bonao that were built with Venezuelan donations after Tropical Storms Noel and Olga. The homes had been prematurely distributed by the Governor of Bonao, leading to a protest from the Venezuelan Embassy through diplomatic channels. The homes were built for people who lost their homes in the storms. Foreign Minister Carlos Morales Troncoso and Venezuelan Ambassador Francisco Belisario Landis will supervise the new distribution so that it may benefit the original selection of homeless families...

US$400 million for airports

Fri, 12 Sep 2008 00:00:00 GMT

Latin American Airport Holdings (LAAH recently purchased Aerodom's rights to manage the Las Americas (SDQ), Puerto Plata (POP), La Isabela (JBQ), Samana (AZS) and Barahona (BRX) international airports for US$400 million and committed to invest US$1 billion in improvements over the next five years. Aerodom and LAAH officials met with President Leonel Fernandez. Advent International (LAAH's parent company) president Juan Carlos Torres said Advent said the current stability was the key factor in the investment decision. He said that negotiations took 14 months. The airport management contract still has another 20 years to go...