Dominican Real Estate Listings - Dominican Republic Real Estate
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Just two days after Haiti’s earthquake, Leonel Fernandez, the president of the neighboring Dominican Republic, ordered a helicopter to fly him over the border for an unannounced visit. He was worried about his Haitian counterpart and friend, Rene Preval, who was still incommunicado.
What made this neighborly gesture remarkable was that the two countries that share the island of Hispaniola have long been divided by mutual suspicion. During a previous term in the 1990s, Fernandez became the first Dominican president to visit Haiti in 60 years.
Fernandez says he found Preval alone in a small, dark back office at a police station near the airport. They talked about how the Dominican Republic could help. It has, a lot. Crews of Dominicans, including engineers, telecoms technicians and the Red Cross, were among the first to join the relief effort.
Fernandez dispatched 15 mobile kitchens to provide hot meals to survivors. He is now sending 100 old buses, refitted with desks and chairs, to serve as temporary classrooms. Dominican health teams are helping to treat earthquake survivors at a makeshift hospital in Jimani on the border. Victor Atallah, a Dominican cardiologist, is building a rehabilitation clinic in Jimani where he plans to fit amputees with prosthetic limbs.
In June, Fernandez will host a donor conference in Santo Domingo. There is understandable self-interest in his admirable solidarity.
Should JetBlue receive this authority, it plans to launch a non-stop daily service from New York JFK to Aeropuerto Internacional de Punta Cana on 6 May 2010 and a non-stop weekly service, operating on Saturdays, from Boston to Punta Cana on 8 May 2010.
Both services will be operated using 150-seat Airbus A320 aircraft.
About PriceSmart
PriceSmart, headquartered in San Diego, owns and operates U.S.-style membership shopping warehouse clubs in Central America and the Caribbean, selling high quality merchandise at low prices to PriceSmart members. PriceSmart now operates 26 warehouse clubs in 11 countries and one U.S. territory (five in Costa Rica; four in Panama; three each in Guatemala and Trinidad, two each in Dominican Republic, El Salvador and Honduras; and one each in Aruba, Barbados, Jamaica, Nicaragua and the United States Virgin Islands).
This press release may contain forward-looking statements concerning the Company’s anticipated future revenues and earnings, adequacy of future cash flow and related matters. These forward-looking statements include, but are not limited to, statements containing the words “expect,” “believe,” “will,” “may,” “should,” “project,” “estimate,” “scheduled,” and like expressions, and the negative thereof. These statements are subject to risks and uncertainties that could cause actual results to differ materially, including the following risks: the Company’s financial performance is dependent on international operations which exposes the Company to various risks; any failure by the Company to manage its widely dispersed operations could adversely affect the Company’s business; the Company faces significant competition; the Company faces difficulties in the shipment of and inherent risks in the importation of merchandise to its warehouse clubs; the Company is exposed to weather and other risks associated with international operations; declines in the economies of the countries in which the Company operates its warehouse clubs would harm its business; a few of the Company’s stockholders own nearly one-half of the Company’s voting stock, which may make it difficult to complete some corporate transactions without their support and may impede a change in control; the loss of key personnel could harm the Company’s business; the Company is subject to volatility in foreign currency exchange; the Company faces the risk of exposure to product liability claims, a product recall and adverse publicity; a determination that the Company’s long-lived or intangible assets have been impaired could adversely affect the Company’s future results of operations and financial position; and the Company faces increased compliance risks associated with compliance with Section 404 of the Sarbanes-Oxley Act of 2002; as well as the other risks detailed in the Company’s SEC reports, including the Company’s Annual Report on Form 10-K filed pursuant to the Securities Exchange Act of 1934 on November 9, 2009. We assume no obligation and expressly disclaim any duty to update any forward-looking statement to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events.
For further information, please contact: Robert E. Price Chief Executive Officer (858) 551-2336 John M. Heffner Executive Vice President and Chief Financial Officer (858) 404-8826
The 35,200 square meter (378,890 square feet) residential marina project being developed within Cap Cana by Grupo Velutini is to be built in four phases at an estimated total construction cost of approximately US$110 million. The luxury residential community will consist of approximately 300 units, including large waterfront residences and two, three and four-bedroom villas, townhomes and condominiums. In addition, the development will feature approximately 70 private docks for boats and yachts from which sport fishermen have ready access to world-class fishing. Full-scale construction of the first phase of the project, which includes land-leveling work and the building of 11 large, stately waterfront residences and 11 luxury villas, in addition to the development’s basic infrastructure, has already commenced and is expected to be completed in 2011.
“We are very pleased to be associated with Grupo Velutini as we continue to further our efforts of developing our property,” said Ricardo Hazoury. “Cap Cana is synonymous with the finest in world-class hospitality experience, and we are certain that this new real estate development will only enhance that reputation. This announcement serves to strengthen our ongoing efforts of enhancing the overall value of the project by attracting well-respected private developers that bring their own development capabilities, sales distribution networks and capital.”
Puerto Marina at Cap Cana represents the newest addition to Grupo Velutini’s portfolio of master planned community and commercial developments in the Caribbean and Latin America and the luxury project will serve to expand on Cap Cana’s vision of providing real estate products that would appeal to the upper end residential and tourism markets.
“We are very excited to announce the commencement of construction for the first phase of this landmark property. Our announcement is a clear indication of our commitment and confidence in the success of this project,” said Luis Emilio Velutini. “It is the first of its kind within the Cap Cana property and will serve as a building block for other future real estate investment projects within the Dominican Republic.”
Grupo Velutini has appointed Infinity Developers, S.A., a Dominican-based engineering and construction firm, as the main contractor, and Mexican-based GVA & Asociados to carry out the architectural design of the first phase of the project.
About Velutini & Asociados
Based in Venezuela, Velutini & Asociados is a real estate investment and development firm that has earned a strong reputation in the field of planning, construction, sales, and management of master-planned communities and commercial real estate developments in numerous countries in the Caribbean and Latin America.
About Cap Cana
Cap Cana is a 30,000 acre master-planned luxury resort and real estate community located on the eastern tip of the Dominican Republic in the Caribbean. The community is fully operational with championship golf and yachting facilities, a world class hotel, pristine beaches, a variety of dining and retail establishments and numerous other amenities. Since breaking ground in 2002, Cap Cana has invested approximately US$800 million in infrastructure and other improvements and has entered into contracts with aggregate value of approximately US$1.4 billion for the sale of approximately 1,500 units of real estate properties. Throughout this period, Cap Cana has delivered approximately 700 real estate properties to buyers, including retail and developer hotel lots, condominiums and villas. For additional information, visit http://www.capcana.com/ or call 1-809-227-2262.
In addition to offering pure cocoa beans, Marabel Farms offers cocoa powder, cocoa butter, cocoa liquor and cocoa nibs to their customers. The company’s warehouse and office are located in Los Angeles, California, and their farm is located in the Dominican Republic. To find out more about the product or company, please call (800)919-3744 or visit www.marabelfarms. com.
HAVANA, Dec. 31 (Xinhua) — Dominican Republic’s President Leonel Fernandez said Thursday that 2010 would see the recovery of the country’s economy and urged all sectors to stand up to challenges, local reports said.
Government stimulus measures were necessary for economic sectors to actively participate in the process of recovery to achieve a sustained economic growth, Fernandez said.
The president said the world economic crisis had affected the expenses of private sectors, fiscal incomes and general welfare of the people in the Caribbean country.
Dominican Republic had managed to keep the stability and mitigate the effects on the economic growth and employment, Fernandez said. “But this was not enough to meet the expectations of governors and people regarding the economic development.”
Experts say Dominican Republic has achieved to alleviate the effects of the global crisis and expect the national economy to grow around 3.5 percent, higher than the original estimation.
In November 2009, Dominican Republic signed an agreement with the International Monetary Fund, which in 28 months would lend the country 1.7 billion U.S. dollars to cover the tax collection deficit and boost its economy.
According to Orlando José Ferreira Neto, Embraer Executive Vice President, “the use of the Super Tucano airplanes by the Dominican Air Force will increase the readiness and solidity of the nation’s defense system, by performing patrol missions with the operational efficiency and precision that are already combat proven.”
“The acquisition of these Super Tucano planes, manufactured by Embraer, one of the world’s most prestigious companies, is one more example of the Government’s unshakeable decision to deal with the nation’s vulnerable areas, in order to protect ourselves from the scourge of the drug traffic,” highlighted the Dominican Armed Forces minister Pedro Rafael Peña.
Santo Domingo.– In the Dominican Republic, a country of 9.5 million inhabitants, there are almost the same amount of telephone numbers in use, said Dominican Telecomm Institute (Indotel) director Jose Rafael Vargas.
According to Vargas, the Dominican Republic is ending 2009 with a teledensity of 97%, and is expected to reach 100% in February 2010.
Indotel statistics show there are 963,265 fixed lines (9.9%) and 8,449,283 mobile phones in use (86.7%), which adds up to 9,412,548 (96.6%) lines in a country with a population estimated at 9,742,374 inhabitants.
“Even though we are far from being a society of knowledge, at least we have reached telephone teledensity and we are moving forward on wide access to the Internet,” Vargas pointed out.
