Development Locations
Dominican Republic
- The Dominican Republic is an independent country in the West Indies, a region of the Caribbean Sea. It occupies the eastern two-thirds of Hispaniola, the second largest island in the Great Antilles.
- At 250 miles (400km) long by 150 miles (240km) wide, the Dominican Republic has more diversity than many of its Caribbean neighbours, with 20 distinct topographical areas. Five mountain ranges dissect the country from the northwest to the southeast.
- Lush rainforests, tropical jungles, a cactus-filled desert, astonishing canyons, rushing rivers, dramatic waterfalls, refreshing mountain pools and sunny meadowlands can all be found within this unique country.
- 32% of the land in the Dominican Republic is environmentally protected as are the Humpback whale breeding grounds of the Silver Banks, the 27 spectacular National Parks and the countless pre-Columbian Taino Indian caves and historic sites.
- On August 5 2004, the Dominican Republic signed a Free Trade Agreement with the U.S. and five Central American countries to integrate into the U.S.-Central American Free Trade Agreement, in addition to the country’s CARICOM (Caribbean Community Secretariat) membership.
- The U.S. has a strong interest in a democratic, stable and economically healthy Dominican Republic and relations between the countries are excellent. The country’s standing as the largest Caribbean community, second-largest country in terms of population and land mass, large bilateral trade with the U.S. and it’s proximity to the U.S. and other smaller Caribbean nations make the Dominican Republic an important partner in hemispheric affairs.
- Recent years illustrate the strength of a stable, democratic government achieving significant inward investment building on the economic growth of the late 1990’s following the adoption of sound macroeconomic policies under the guidance of President Fernandez during his first term of office.
- In May 2003, Baroness Amos paid an unofficial visit to the Dominican Republic as FCO Minister for the Caribbean. This was the first ministerial visit since the British Embassy reopened in Santo Domingo in 1995. The re-election of President Fernandez in 2004 was widely welcomed on the world stage and the country continues to develop important trading partners beyond the established links with the U.S., Canada, Western Europe and Japan.
- The President made a successful first ever Dominican Republic visit to the UK in July 2004, following his election victory in May, an indication that bilateral relations are going from strength to strength.
Punta Perla International Estates
- Punta Perla is a master-planned resort situated on the Eastern tip of the Dominican Republic in the established area of Punta Cana.
- Set in approximately ten million square metres of natural, prime Caribbean real-estate, Punta Perla offers the last beachfront development opportunity of this size in the popular Punta Cana region.
- From its conception, Punta Perla has been carefully planned to become one of the premier resorts in the Caribbean and will evolve into a first class living and vacation experience. Low density population of properties within the resort is key to the developer’s plans for Punta Perla with only 11 people per acre all set in over 2,500 acres.
- Residential and commercial properties of varying size and type have been carefully integrated into the natural environment as well as a series of private clubs and facilities which have been carefully selected for the enjoyment of residents and their guests.
- At the heart of the development is La Marina de Punta Perla, a harbour equivalent in size to Puerto Banus; playground to the rich and famous in southern Spain. Punta Perla will attract high end retail companies, wishing to operate their businesses there.
- The harbour and marina specification will set a new standard of facilities in one of the largest inland marinas in the Caribbean, located on a major maritime route for international leisure mariners.
- The resort will also include Beach, Yacht and Golf Clubs, Elegant Boutiques and Restaurants, a World Class Spa, Tennis and Swimming facilities, Deep Sea Fishing, Equestrian facilities, Championship Polo Club and a Casino among the diverse range of attractions. A golfing academy and three Signature Golf Courses are planned within the resort with one being designed and built to championship standards with a view to hosting a variety of championship tournaments.
- Law 158 on foreign investment enacted in December 1995 allows unlimited foreign investment in nearly all sectors of the economy. In October 2001 this was extended to make investment in business and upscale tourism exempt from income tax for ten years. As a new development, all investors at Punta Perla will benefit from ten years of tax free status – no taxes payable on capital gain or rental revenue and an exemption from the current 4.6% stamp duty on property purchased.
- In addition, International Tour Operators are seeking to secure rental property for their inventory and the developers are offering a guaranteed yield of 8% for five years and/or 70% of the net rental pool profit share.
- The vision, scale and unique combination of commercial and residential development of Punta Perla, represents one of the few remaining world ranking destinations. Already on the radar of world tourism organisations and international resort operators, combined with highly competitive acquisition costs, Punta Perla is recommended for excellent medium to long term values.