News

May 15, 2007

"The Donald" arrives Friday
Flamboyant real estate mogul and television personality Donald Trump arrives in the DR on Friday to begin sales of his US$2 billion project in Cap Cana, Trump Farallon Estates. Cap Cana's developers signed a partnership agreement with Trump last February to build a golf course, a hotel-condominium complex, a beach club, golf villas and apartments. Lots at the project range from 6000 mt2 to 24,000 mt2 and are located two hundred feet above the ocean. The latest winner of the hit television show "The Apprentice" opted to work at the new site based on photos she was shown. She exclaimed, "Have you seen the water?"

Chinatown arches ready
Construction has accelerated on the arches of Avenida Duarte that mark the limits of Santo Domingo's own Chinatown, slated to be a new tourist attraction of the capital city. The traditional shopping district is the site of several traditional Chinese stores and restaurants, and the project is part of a major move to strengthen Santo Domingo's positioning as a shopping center. The builders promise that the arches and paved entrance will be ready in time for the busy mother's day shopping at the end of the month. Mother's Day in the Dominican Republic falls on Sunday, 27 May.

Samana road by year's end
Public Works Minister Manuel de Jesus Perez said that the Santo Domingo-Samana expressway could be finished by December. Only heavy rains could keep the road from completion, he said. The road will cut travel time by half to Samana, one of the booming new tourist destinations in the country. Once the new highway is open, driving to Samana from Santo Domingo may take less time than traveling to La Romana.

Good years for the Caribbean
Financiers are expressing optimism about tourism to the Caribbean. Speaking at the Caribbean Hotel & Tourism Investment Conference held in Curacao, KPMG partner Simon Townend indicated that US economic stability and US market demographics are factors in this positive regional outlook. He explained that airlift to the region has been and continues to be strong, and world economic growth and the increased strength of European currencies have produced new entrants to the economy. He said that the DR had emerged as the frontrunner in the region, with high potential for future growth. Warren Jestin of Scotiabank said, "The graying of America will certainly help the market stay afloat. Seniors whose average age is going up will change the tourism industry as well as the labor market worldwide. Every country getting into the Green Globe groove will generate trillions of dollars to be spent," he said, as reported by John Collins.