Dominican Republic Big Investment Haven. NBC’s On The Money Report


the dominican republic a small island oasis with a huge opportunity for foreign investors hundreds of millions of dollars in play to ching NBC’s Kerry Sanders takes us there the Caribbeans dominican republic is a land of color red white blue but it’s all about the green that has people buzzing these days and no we’re not talking about the back nine this island nation that may have been an undiscovered country to Americans just three or four years ago is now the paradise found and real estate projects in this spanish-speaking country are sprouting like palm trees the United States market is now beginning to identify the values and the opportunities that lie here in the Dominican Republic particularly in a project like this like Cap Cana which is aiming to the highest end of the world baikin Cap Cana is aiming for and wide hugging the island southeast coast the project will be the country’s largest private community a mammoth 30,000 acres and plans for five hotels five golf courses and thousands of homes it’s just beginning to take shape with hundreds of millions in foreign dollars 33 percent of it American how hots the real estate market of the Dominican Republic even before they broke ground on this project called ROH Koki they had sold a hundred million dollars in properties 90% of it to Americans oh and one other thing they did it all in one day Royko keys natural beauty is undeniable investors are banking on another seaside jaw-dropper with jungle bungalows for the rich and famous signature golf courses and villas signaling even more American interest the American Hotel chain Starwood’s resort worldwide is building a Westin in the end between 10-15 years we expect protocol key to have about 8,000 residences and about sixty seven additional high-end five-star our resorts why the dr fever a series of Dominican baseball stars a democratic government encouraging foreign dollars a number of new direct flights from the US and recent good press coupled with bargain land prices and cheap labor all of it putting the Dominican Republic on the map like never before it’s just very welcoming very hospitable and once you’ve come here once you want to come back many Americans fall in love with the Dominican while on vacation a record number of tourists visited this past season after Hurricane Wilma pummeled Cancun Mexico even Hollywood is taking notice recently Brad Pitt was flying about the island looking for his piece of paradise fellow actor Vin Diesel is planning on building in Boca Chica and reportedly Robert DeNiro is also actively looking Islanders like to say Christopher Columbus was the first tourist here historians believe Columbus landed on Hispaniola before making it to the new world today well-paid tourism-related employees earn between 100 and 140 dollars a month we are working on you better have a lot of money a new roads electrical supply water supply and for the modern foreign dominicans reported more equality a more modern more more country of course that progress is increasingly visible and encouraging investment from around the world like ocean world on the north coast a German businessman sunk 50 million dollars into this marine Adventure Park two years ago it’s been drawing tourists from around the country ever since Wall Street money manager Boykin curry and a group of investors recently took the plunge on the islands breathtaking north coast buying two thousand acres to develop and Playa Grande at a bargain 55 million golf course included he has seen the operation of not only the government but also of key individuals and key development partners in the country that can help us bring this about so we’ve seen a lot of interest of golfers we have seen a lot of interest of people in the industry and everybody’s expecting a lot from us down the road from Playa Grande the picturesque habitat they beat a water sports Mecca the world-class win the daily spectacle here is black America yellow for example is five years old and at the beginning we had a base of owners International International basically we had the roughly 10% were American owners but now recently we’re seeing a big flex of American owners for example Valero Beach Resort right now is 70% owned by Americans American retirees like Phyllis Burnie from Wisconsin discovered the dr was a bargain a long time ago but she says it was the dominican people that sold her on staying my mom is going to be 98 in november and she said where else could i be that someone could be so kind they actually helped me put my shoes on then i have someone with me all the time I don’t need a walker because when I wanna walk someone walks with me five years ago Jason and Michelle Matthews from Philadelphia discovered the dr while on a vacation they now live part time on a farm on the north coast they also own this 15,000 square foot villa that cost them two million dollars that they rent out to other americans i think most americans have discovered what columbus discovered a long time ago that this is really particularly the north coast is really an unspoiled pristine paradise it is it’s not over invested it’s not over developed the trip will be keeping at that for on the money Kerry Sanders NBC News the Dominican Republic




Comments
  1. im dominican and im proud to say that thats my country where i was made and born and cono viva la republica dominicana!!!!

  2. A SMALL ISLAND WTFFF dominican republic is the second largest nation in the carribean and all of latin america

  3. I'm dominican and I think that the DR has huge potential and not just in tourism, but in agriculture and mining too. We could surprise in movies and financial sector with projects in the works like Indomina Pinewood Studios and the Independent Financial Centre of the Americas. The future is very bright in my opinion and Danilo Medina just won the presidential elections and he is more pro business and visionary than Leonel Fernandez.

  4. I can't wait to book a flight to the D.R. people have been telling me about how friendly the D.R. is I gotta get down there. plus I gotta brush up on my spanish. im looking into real estate development in Santo Domingo I wanna own a vacation Condo down there.

  5. I know this is wrong but what about the Haitian side, anyway to get rid of that side of the island? LOL!! it's a mess

  6. no pierdan su tiempo respondiendoles a personas que no tienen ni una moneda que los representen pero lamentablemente es tan feo ver como nosotros los latinos que somos uno vivimos hablando de quien es mejor y no es mejor unirse para todos ser mejores DIOS les bendiga a toda nuestra raza 

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