Trump building $2 billion luxury resort in Dominican Republic
22 February, 2007 Trump building $2 billion luxury resort in Dominican RepublicDonald Trump has signed a partnership agreement with Cap Cana, S.A. in the Dominican Republic to develop a $2 billion dollar luxury resort.
The first phase involves 8,680 of the site's 30,000 acres.
Cap Cana, one of the most best known real estate and tourism destinations in the Caribbean, is ideally located adjacent to the Punta Cana International Airport.
The first phase will include condo hotels, villas, a golf course, estate lots and residences with ocean views. The project will be called Trump at Cap Cana.
"Not only is the Dominican Republic an exceptionally beautiful place with a wonderful history, but the allure of Cap Cana makes this a unique destination in the Caribbean," said Mr Trump.
"With the signing of this agreement, Cap Cana ratifies its goal to become renowned internationally as the 'World's Greatest Destination'," said Dr. Ricardo Hazoury of Cap Cana. He added:
"By combining the Trump experience with Cap Cana's natural beauty and the talent demonstrated by our team of professionals, in addition to the stable economy of the Dominican Republic, we are confident that together we will continue to seamlessly create a new standard for tourism, real estate, and hotels for the entire region."
Located on the Eastern tip of the Dominican Republic, Cap Cana is called "The World's Next Great Destination."
It is known as the most important tourism and real estate project in the Caribbean, spanning over three miles of white powder sand beaches.
At the completion of the master plan, Cap Cana will feature at least four luxury hotels and 5,000 residential units. Also included are three Jack Nicklaus Signature Golf Courses (the first, Punta Espada, opened in November of last year) and the area's most state-of-the-art marina featuring over 1,000 slips catering to mega yachts up to 150 feet.
The first phase of the marina will be inaugurated in spring 2007.
Additional services and amenities include elegant boutiques, fine dining restaurants, world class spas, exclusive membership clubs, water sports, polo, and horseback riding facilities, among others.
Cap Cana is part of The Abrisa Group, one of the main economic and diverse holding companies in the Dominican Republic.
For the development of the project, Cap Cana has brought together a group of professionals that include Nicklaus Design, Coastal Systems International Inc., International Marinas, Weitz Golf International, GVA, Troon Golf, and Stewart Title among others.
In addition to being one of the largest developers and managers in New York, Mr Trump is currently building residential, hotel and golf club projects in Las Vegas, Chicago, Miami, Los Angeles, the Caribbean, Hawaii, Westchester, NY, Bedminster, NJ, Aberdeen, Scotland, and Dubai, UAE.
CAP CANA, Dominican Republic, May 23 /PRNewswire/ -- Cap Cana, one of
the world's most exclusive tourism and real estate destinations, reached a
new sales record, selling US $350 million gross and more than 95% of
inventory in the first four hours of the Trump Farallon Estates at Cap Cana
sales launch. Trump Farallon Estates constitutes the first product launched
by the joint venture deal recently signed between Donald J. Trump and Cap
Cana, S.A.
The sales launch is the highest figure reached in the shortest amount
of time by any tourism real estate project in the Dominican Republic or the
Caribbean. Trump Farallon Estates consists of 68 lots of land, ranging in
size from 1.6 to 12 acres, and priced from US $3 million to US $12 million.
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Trump building $2 billion luxury resort in Dominican Republic
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