Dominican Real Estate Listings - Dominican Republic Real Estate
FREMONT, Calif. — Purfresh, a provider of clean technologies that purify, protect, and preserve our food and water, today announced that Purshade®, a family of unique products scientifically engineered to protect fruits, vegetables, and other crops from harmful solar stress, is now available through Agroasa in the Dominican Republic. Depending on the commodity, the region, and the seasonal climate, growers may lose between 20–40 percent of their crop to solar damage. With the protection of Purshade, growers have experienced increases in biomass production and improvements in crop quality characteristics, including size, color, and weight, resulting in fewer culls, and higher-quality, higher-value crops.
“Organic and conventional growers have been looking for an effective, easy to use product to reduce losses from solar-related damage and enhance harvest value,” said Mr. Tom Justmann, general manager, plant health group for Purfresh, Inc. “The results of worldwide trials and research studies validate that Purshade can be a valuable tool to help growers improve their returns and compete more effectively in today’s global fresh produce market.”
According to replicated field trials and research studies, improvements in plant health associated with Purshade’s reduction of solar stress were an important factor in increasing the productivity and the quality of a broad range of crops grown around the world. In the Dominican Republic, banana, avocado, and pineapple growers have experienced significant improvements in fruit quality along with increases in marketable yield with the use of the Purshade solar protectant.
“We have built a strong reputation for providing the highest quality crop protectants to growers throughout the country,” said Mr. Abel Lopez, manager of Agroasa. “Purshade plays a significant role in helping our growers optimize the value of each and every acre by maintaining quality and reducing costly solar damage.”
Purshade was scientifically engineered to provide superior protection against the damaging effects of solar stress. Based on patent-pending Advanced Reflectance Technology™ (ART™), Purshade reflects harmful wavelengths of solar radiation such as ultraviolet (UV) and infrared (IR), while allowing transmission of sufficient sunlight for photosynthesis. Laboratory results show Purshade reflects as much as 85–95 percent of harmful UV radiation, and has been shown to keep plant surfaces 3–6 degrees Celsius cooler than untreated plants.
Mr. Pedro Castillo, an avocado grower in the Dominican Republic stated, “With Purshade, we’ve been able to protect our crops from the damaging effects of UV and IR radiation, resulting in high quality avocados. Purshade’s superior coverage and ease of use has allowed us to eliminate the labor intensive bagging process and utilize our time and labor more effectively.”
The Purshade family of products includes a formulation for use on conventional crops as well as a formulation that is approved for organic production by the Organic Materials Review Institute (OMRI) of the United States of America and the Institute for Marketecology (IMO). The liquid formulations are easy to mix, can be applied with standard spray equipment, and provide for easy wash off.
About Purfresh, Inc.
Purfresh offers a range of clean technology solutions that purify, protect, and preserve our food and water. Purfresh’s innovative crop applications, food wash systems and cold chain technologies effectively safeguard fresh produce before and after harvest. Our water technologies purify and disinfect bottled, pharmaceutical and consumer products. Today, customers in 42 countries rely on Purfresh to boost yields, control costs, and improve the safety and quality of their products, including Coca-Cola, Procter & Gamble, Safeway, Orchard View Farms, and Wyeth Pharmaceuticals. For more information, visit www.purfresh.com.
“The 52 exquisite Founder Residences are moving along at a rapid pace most recently reaching the rooflines,” stated Luis Jose Asilis, CEO of Group Metro. “The 18-hole Greg Norman Signature Golf Course is also progressing at a steady pace. The irrigation system has already been completed for the first nine holes and we expect them to be ready for grassing before the end of the year,” he added.
Spanning 580 acres along the coastline of Juan Dolio Beach, just twenty minutes from the Santo Domingo International Airport, Costa Blanca is a billion dollar development that will encompass luxurious residential homes, retail, a full-scale marina, an 18-hole Greg Norman Signature Golf Course, and other sporting components. The private golf clubhouse will feature the Hole 19 Bar, fine dining restaurant, cigar lounge, pro shop, and more.
The General Manager of Banreservas, Daniel Toribio, confirmed that by approving this loan their Board of Directors is committed to the growth of the real estate market in the Dominican Republic. More specifically in the tourist areas, and therefore they are pleased to partner with Group Metro, a respected company in the real estate and construction industries, to complete the first phase of Costa Blanca in Juan Dolio.
The Founder Residences have enjoyed tremendous success, with 45 of the 52 Villas already sold. Residents of the Founders are part of the exclusive Founder’s Club, which presents numerous benefits. The Founder’s Club package includes a luxurious 4,500 sq. ft. private villa with golf, bay or marina views, as well as two condominiums, a private boat slip in the marina, and membership to the prestigious golf club. Members will also enjoy VIP treatment in addition to various properties and onsite amenities.
About Group Metro
Group Metro has established a formidable international reputation throughout its four decades of experience in transportation, tourism and real estate. From its landmark property, Metro Country Club, to the oceanfront condominium developments of Costa del Sol, Marbella, Costa Blanca and Las Olas, Group Metro is the definitive company for real estate and tourism in the Dominican Republic. Led by CEO, Dr. Luis Jose Asilis, the company has played an integral role in putting the Dominican Republic on the map as a top Caribbean destination. Please visit www.groupmetro.com, www.metrocountry.com or www.costablanca.com.do.
HIGHLIGHTS
- Recent rock sampling from Los Comios project returns values up to 5.37 g/t Au from silicified sedimentary rocks;
- Los Comios district continues to develop as new areas of mineralisation and alteration are discovered; and
- GoldQuest will be presenting at the AGORACOM Online Gold & Commodities Conference.
Alistair Waddell, President & CEO of GoldQuest, commented, “We are extremely encouraged at the latest results which continue to expand the Los Comios district. We believe the scale and nature of the alteration is indicative of porphyry type environment and the Company will continue to explore the district in greater detail”.
LOS COMIOS PROJECT: GoldQuest has completed follow up of several zones of alteration discovered on its 100% owned Los Comios project described in the news release dated October 7, 2009. The principal target called Los Lechones is focused on a gold-molybdenum ridge-and-spur soil anomaly that consists of a continuous line of 11 samples taken at twenty-five meter intervals with an average grade of 0.22 g/t Au and 9.31 ppm Mo. These samples were taken as part of a programme that comprised of 178 samples. The line of anomalous soil samples obliquely traverses a zone of silicified, brecciated sediments that have been geologically mapped over an area of approximately 800 by 120 meters. Recent rock chip sampling from this zone has returned values up to 5.37 g/t Au from intensely silicified sediments which are interpreted to be limestones. From a programme consisting of 50 rock samples the average grade returned 0.26 g/t Au and 17.6 ppm Mo from either silicified sediments or the juxtaposing silicified andesitic volcanics. One sub-crop sample of silicified, laminated sediment taken from a separate zone 850 meters further to the northwest of Los Lechones returned 0.67 g/t Au.
The second zone of alteration called La Guamita is located 1.8 km to the south east of Los Lechones and occurs at a contact between andesitic volcanic rocks and a diorite intrusion with approximate dimensions of 300 by 200 meters. The La Guamita zone has disseminated pyrite with intense quartz-sericite alteration with eight rock samples from this zone returning values between 0.11 and 0.37 g/t Au from a programme comprising of 47 samples. A third zone of intense alteration discovered approximately 1 km to the north of La Guamita did not return any significant sample values.
The Los Lechones and La Guamita zones are located approximately five kilometres northwest of the Los Comios copper-gold anomaly previously described in a Company news release dated August 5, 2009. The gold-copper anomaly has been defined by 330 rock and float samples with 118 returning values greater than 0.1% copper including 59 greater than 1% copper and 6 greater than 10% copper with a maximum value of 34.6%. Rock float samples have returned values up to 17.0 g/t gold and 1.3% zinc. The strongest mineralized samples originate from either side of a large topographic high which is coincidental with a strong positive airborne magnetic anomaly located east of the Los Lechones and La Guamita zones. The Company intends to complete a more focused exploration programme to systematically explore the greater Los Comios district in further detail and believes the area has the potential to host porphyry style mineralisation.
The Company continues to prioritise, critically review and explore the portfolio of gold and copper targets including those that were formally part of the Gold Fields funded joint venture.
AGORACOM Online Gold & Commodities Conference: GoldQuest is pleased to announce it has been invited to present in the first ever AGORACOM Online Gold & Commodities Conference ( http://agoracom.com/conferences ) on December 3rd and 4th, 2009. Presenting companies are limited to a maximum of 50 and selected by invitation only in order to maintain a high standard of quality for attending investors. Presenting companies will be active in industries that include precious metals, base metals, rare metals, oil & gas and clean energy technologies. Keynote Speakers at the conference are Peter Grandich, Barry Ritholtz, Paul Kedrosky, Eric Coffin, Jean-Francois Tardif and Gregor Macdonald.
CONFERENCE DETAILS WHERE: Online - http://agoracom.com/conferences WHEN: December 3rd and 4th, 2009 PRESENTATION: Please see schedule ( http://bit.ly/AGconfsched ) for our exact presentation time on each day REGISTRATION: Investors Register for free ( http://agoracom.com/conferences ) using form in right hand column of any page FORMAT: 15-minute presentation followed by live Q&A in monitored HUB TECH REQUIRED: Your web browser
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.
Marine Exploration President Paul Enright states: “Burt Webber and his crew continue daily operations on a 1700s shipwreck in the Dominican Republic contract area. We are very excited with the numerous one-of-a-kind valuables recovered; especially the silver coins and gold, pearl and diamond jewelry. Over one hundred pieces have been salvaged from this particular site. We feel there is much more to come since Webber’s team has covered only one-eighth of this particular shipwreck area. Our operations will continue here indefinitely. We will post pictures of the latest finds to our website in the coming days.”
Marine Exploration, Inc. and joint venture partner Hispaniola Ventures, LLC, headed by Burt D. Webber, Jr., plan to continue the shipwreck site survey and salvage and anticipates locating and recovering additional historic shipwrecks with valuable artifacts and treasure. Working under exclusive contract with the Dominican Republic, the Company has plans in place to pursue multiple notable shipwrecks in Dominican Republic territorial and jurisdictional waters.
Forward-Looking Statements
This press release contains statements, which may constitute “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995.
The authenticated Contract of Sale is then taken to the nearest Internal Revenue Office for payment of the appropriate taxes .The property purchaser will have to pay property purchase taxes in the region of 7.5 property tax (IVSS) on the value of the property above that amount.
The Contract of Sale and the sellers Certificate of Title are deposited at the Title Registry Office in the jurisdiction where the property is located, and the sale is recorded. The Title Registry Office issues a new Certificate of Title in the name of the purchaser and cancels the old certificate issued in the name of the seller; this may take a few days or a few months depending on the Title Registry Office where the sale is recorded.
Your agent in the Dominican Republic will make sure that this process is done smoothly, making sure that all of the following are checked out before closing .
1 Copy of the Certificate of Title to the property
2 Copy of the survey to the property or plat plan
3 Copy of the seller’s identification card or passport
4 Copy of receipts showing all taxes being paid should they be required (IVSS) or the copy of the certificate stating that the property is exempt from the IVSS tax
5 If the seller is a company, copy of corporate documentation authorizing the sale and a certificate from the Internal Revenue showing the company is current with its income tax returns.
Your agent will also make sure of the following,
If the property is part of a community (condominium)
1 Copy of the community declaration
2 Copy of the community regulations
3 Copy of the approved construction plans
4 Certificate from the community showing all dues are paid
5Copies of the last three community meetings
If the property is a house
1 Copy of the approved construction plans
2 Inventory of furniture etc
3 Copies of utility bills, and receipts showing the seller is current with his payments
4 If there are works being carried out on the property he will make sure that all the people involved are paid off buy the seller, and the workers have their legal severance papers, otherwise the buyers may find themselves liable for payment later.
These guidelines are meant for guidance only and describe a straightforward purchase scenario. However this information is not meant to replace proper legal advice, which we always insist you take.
Like most overseas property markets that were popular up until last year, there has hardly been a dickie bird since the worst of the downturn set in. Ever since the talk began of this being the worst financial crisis since World War II, people have been scared of putting money into overseas property, and this obviously affected media coverage of emerging markets like Dominican Republic.
Meanwhile, media coverage or no, tourism to the Dominican Republic has not been as badly affected as people expected, or as many other places around the world. Again, this is because of the fantastic value for money offered by the low cost of living in the country.
Massive international resort chain Hard Rock Hotel has just testified to the fact that Dominican Republic tourism is still a massive growth market, when it announced that it was building a new multi-million dollar resort in hotspot Punta Cana.
Because the market has not been battered, Dominican Republic property prices have held firm. This is also likely because the properties were so well priced in the first place; there was no massive speculation so there has been no severe correction.
Now that there is the first talk of recovery, and it is apparent that the crisis is not going to get anywhere near as bad as the doomsayers doomsaid, there are reports of increased activity from foreign buyers in the Dominican Republic property market.
The demand for overseas property has grown faster than anyone could have imagined since there was the first signs that we had reached the low point in the crisis in April. This is undoubtedly at least partly because of the record low interest rates being offered in all the G8 and most of the G20 nations.
Yes, this affects demand for overseas property because reduced payments on debt increases liquidity. But in the current market, it is predominantly those who have no debt, or certainly those with substantial savings who are buying.
So the biggest boost from low interest rates is from investors’ being disillusioned with the pitiful returns from bank held savings, who are seeing the 4-8% average yield from an overseas property investment as by far the best option. After all, you don’t get to lie on a sun-soaked beach when you go to visit your money in Barclays.
Popular areas for buying property for sale include Puerto Plata, Sosua and Cabarete on the north coast and, on the east coast, around Punta Cana, where several major luxury resorts are being built, notably Cap Cana, the biggest development in the Caribbean. Covering 14,000 hectares, the resort will see 10,000-holiday properties built over the next ten years along with six golf courses (including three Jack Nicklaus signature courses), five hotels and the biggest marina in the Caribbean. Prices of property for sale in the Dominican Republic start at 230,000 and go up to several million pounds. Next door is Caso de Campo, another luxury development, where Oscar de la Renta has a property. Prices of property for sale in Caso de Campo start at 250,000 for apartments.
It is hard to get hard and fast figures for capital growth experienced in the Dominican Republic, but most people suggest prices of property for sale in the Dominican Republic are going up by ten to 20 per cent a year, and rental yields can be as high as eight to ten per cent in prime locations. There is a one per cent property tax, 25 per cent capital gains tax and a six per cent exchange tax; but, like Antigua, some of the bigger resorts are negotiating lower rates of tax in Cap Cana, for example, there is a ten-year exemption on property taxes and no capital gains tax when properties are sold.
