The announcements included especially good news for visitors headed to the hot spot of Punta Cana, a peninsula on the easternmost coast of the Dominican Republic that has long been the home of all-inclusive resorts and, more recently, several large residential developments.

An international airport already serves the area, but the new infrastructure investment will add high-speed ferry service between Punta Cana and Samaná, another popular tourism peninsula on the northeast coast. It also will build a new highway that will reduce travel time to the capital of Santo Domingo from four hours to about an hour and a half. Both projects are scheduled for completion before 2012.

Punta Cana’s main attraction is more than 20 miles of powdery white beaches. About 30 beach resorts, casinos and second-home options occupy this stretch. Several of the larger residential developments, including Roco Ki and the Punta Cana Resort & Club, offer complimentary mini-vacations for prospective buyers.

Housing prices in the upscale developments generally begin in the $400,000-$600,000 range and go upward into the millions. For buyers willing to look outside those developments and forgo resort-style amenities, prices can be much lower. Three-bedroom houses start at $250,000. One-bedroom condos begin at under $120,000, and many one- and two-bedroom condos are in the $150,000-$200,000 range.

Affordability, however, is not the Dominican Republic’s sole appeal. For second-home buyers, the nation also offers a stable democratic government, ease of doing business in a region otherwise infamous for red tape, easy air access, a vibrant community of other foreign home buyers and a top-notch portfolio of golf courses with layouts by the likes of Tom Fazio, Jack Nicklaus, Pete Dye and Nick Faldo.

A look at three Punta Cana neighborhoods:

•Cap Cana. This huge development (capcana.com) spans 29,000 acres and includes nearly 3½ miles of beach. The master plan calls for 5,000 residences, as well as hotels, golf courses, shops and restaurants, some of which are already open. There are 26 residential communities now, ranging from six to 474 units. Home sites begin in the $400,000 range, bungalows start at $480,000, and single-family houses start at $895,000.

•Punta Cana Resort & Club. The latest phase of this upscale resort (puntacana.com), built on a stretch of beach and around a golf course, is The Estate, which encompasses three enclaves of single-family houses. Lots in the Arrecife and Hacienda enclaves start at $450,000, and the gated Corales enclave commands $1.8 million and up. The Estates are being co-developed by singer Julio Iglesias and designer Oscar de la Renta, both of whom have built homes in Corales.

•Roco Ki. This new development includes more than 3 miles of beaches and coastal cliffs, atop which sits a Nick Faldo golf course. For housing, choose from several residential communities and two resort hotels: the Westin and the Fairmont. The Fairmont, expected to be ready in 2010, will offer fractional ownership in a residence club. The Westin, scheduled for next spring, already is selling options that include high-rise condos, single-family houses and bungalows. Prices range from $475,000 for a condo to $2.75 million for a beachfront home.

Source: http://www.usatoday.com/travel/destinations/secondhomes/2008-10-30-punta-cana_N.htm

The facilities will house a professional tennis center encompassed by eight tennis courts, and one tournament stadium-style court, as well as pro-shop. Evert explains why she chose Costa Blanca and Group Metro, “Costa Blanca is going to be a wonderful destination in the Dominican Republic.  I look forward to working with the Development team of Group Metro to help facilitate not only a world class golfing facility, but my first Tennis Center in the Caribbean that will feature superior facilities but also unparalleled service for our members and guests.”

Due to the continued demand at Costa Blanca, the developers are now enhancing the master plan, designed by EDSA, to offer a new selection of additional products.  The updated plan now presents buyers with uniquely diverse selection of residences, including half-acre private estate lots for luxury homes of up to 15,000 square feet (1,400 m2).  From modern, sleek condos and private villas to a home directly on the Caribbean sea, Costa Blanca will provide an assortment of sizes and styles to suit every taste.

Juan Dolio, only thirty minutes from the country’s capital, has recently seen an influx of activity with over 10 new projects this year.  The region is quickly becoming the Caribbean’s latest “hot spot” and Costa Blanca is leading the pack as the area’s most prestigious property.

Group Metro has established a formidable international reputation through-out its four decades of experience in both real estate and transportation.  From their landmark property, Metro Country Club, to their oceanfront condominium developments of Costa del Sol, Marbella and Las Olas, Group Metro has become the definitive business for real estate and tourism in the Dominican Republic.  Lead by their visionary 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.  Group Metro will be one of the first developers in the Dominican Republic to ever provide internal financing to buyers.

Costa Blanca, an impressive undertaking that will span across 300 acres of land and coastline in Juan Dolio, will encompass a mega-yacht marina, marina village with retail and commercial space, ten condominium towers, 52 private villas, a tennis village, clubhouses for both tennis and golf, a secured, private beach, and the first signature Greg Norman PGA golf course in the country. The highly-anticipated development will set new standards of luxury in the area, and will bring forth a modern spin on private, high-end communities. With top architects and designers at the helm, residents will find villas with open-air spacing to showcase their wrap-around pools, condos where each and every owner is afforded unobstructed water-front views, and an assurance that every aspect and step of the project is environmentally sound and positively affects the region.

The weekend began with a press conference at the historic Embajador Hotel in Santo Domingo with Greg Norman, legendary golf icon, Steven Ankrom, Vice-President of Sales for Costa Blanca and Doctor Luis Jose Asilis, CEO of Group Metro. Greg Norman, “The Great White Shark,” whose namesake and expertise is behind this ground-breaking course, greeted the press and spoke of his excitement and great faith in Costa Blanca. “Golf has shown tremendous growth in this part of the world and I am very glad to be a part of this absolutely magnificent project,” stated Mr. Norman before congratulating Dr. Asilis.  Mr. Norman also commented on the current state of the economy and how it related to Costa Blanca, “ In many ways, golf and golf course design are economic indicators; we’ve seen it slow in the United States , but not in the rest of the world. New projects must have amenities that capture the imagination of everyone, and that is exactly what is taking place here.” Executives of Costa Blanca who are thrilled and excited to create “the first luxury, high-end golf project on the ocean in Juan Dolio,” spoke of the numerous economic advantages and various job opportunities Costa Blanca will create for locals of the Dominican Republic. When asked about his vision for Costa Blanca, Mr. Norman answered, “First, you look at the ‘least-disturbance approach’, which works perfectly with this development. Our duty is to build the best golf course we can, in the best way, with the best value. It’s not very often that we get the opportunity to build directly on the ocean. From a golfing perspective, when we have the ability to put nine holes on the ocean, it is a very unique opportunity.”

After the press conference, Mr. Norman entered the grand ballroom, where the glittering launch gala was already underway with VIP’s and press excited to learn of the project’s details. Complete with a five-piece string quartet, Costa Blanca lounges, and a white décor theme to showcase the beach atmosphere and luxury of the project’s design, the grand event introduced 1000 of the Dominican Republic’s VIPs and tastemakers to Costa Blanca. Greg Norman made a presentation to the audience and re-visited his excitement over the “amazing transformation that will take place over the next eighteen months.”

The following day, the Founder’s Club - made up of 52 elite individuals who secured reservations as the very first buyers at Costa Blanca, gathered at the invitation-only Founder’s Club Reunion. These members had an early invitation to reserve a spectacular one-time package that included a private villa, two condominiums, a slip in the marina, golf membership for life, and private access to The Lighthouse Lounge and Clubhouse. The event took place onsite in beautiful outdoor tents and allowed the Founders to drink and relax while they surveyed the plots of land that would become the site for their private villas. In a unique and exciting format, Founders were able to choose the individual piece of land for their villa, as well as the condo units they desired, according to the order in which their reservation was received. With law firms onsite to advise and offer guidance, Costa Blanca closed almost $100 million dollars in sales on Saturday alone. Members of the Founder’s Club congratulated each other and toasted their new neighbors with champagne and cigars.

With the immense success of their opening weekend and almost $100 million dollars closed in sales, Costa Blanca has proven that the real-estate market is still thriving and that the Dominican Republic is one of today’s hottest investments.

Source: Grupo Metro