- Thread starter judypdr
- Start date
Dream City Resort Near Puerto Plata Airport?
I don't like Plaza Lama, but a PriceMart, Ochoa and Auto Dealership would be cool. Wendy's too.
Not a huge fan of Plaza Lama either, so that will probably be the store chosen. Good suggestions Ohmmmmm for what might actually be possible in the DR. Walmart and Trader Joe's are unlikely. Imagine a Home Depot here.
The Scope of Dream City Resort is $1 Billion US
The Dream City web site has changed a bit. And some hires are being made, I am told.
http://dreamcityinvestments.com/the-scope-of-this-project/
$1 Billion and 4,383 units of various size and style.
The Dream City web site has changed a bit. And some hires are being made, I am told.
http://dreamcityinvestments.com/the-scope-of-this-project/
$1 Billion and 4,383 units of various size and style.
$1 Billion: scope of Dream City Resort between Sosua and POP ariport
http://dreamcityinvestments.com/the-scope-of-this-project/
http://dreamcityinvestments.com/the-scope-of-this-project/
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So far I don't see any level of sophistication in what they are doing. I certainly want them to do well. But so far it seems like the rich gringo wants to impress and make the Dominican wife and family happy... On a huge scale... They have a long way to go before the first shovel is even dug... Best wishes to them, but I am extremely skeptical.
There are many reasons for skepticism. The somewhat grandiose Punta Goleta project in Cabarete? Never came to be. The Miracle Mile project on the way to La Boca? Never came to be. The ECO Park project at La Boca itself? Never came to be. Cabarete Green Garden across from Kite Beach has a house or two. Life Styles resort reclaimed a dead project, broke a number of laws with impunity and is real.
Dream City, at this time, is at least an order of magnitude larger dream than all of those projects together.
The biggest reason for skepticism is that this project is in the DR.
I've seen these "community construction projects" in several developing countries and they all fall by the wayside long before the project comes to completion. I believe this is due to a priority issue. Without exception, the projects that seem to have difficulty are those that finance the community infrastructure on the backs of residential sales.
I think the idea of having shops, dentists, doctors, a medical clinic, restaurants etc is an essential part of these communities. Unfortunately, most developers build housing before they put the anchors in place. Dream City would do better (imo) if they put in place the amenities first then built the residential community around these established businesses/services.
For the prices involved here, I wouldn't want to be the only villa surrounded by vacant building lots of overgrown land full of spiders, snakes, centipedes and rats looking forward to a decade or more of sporadic haphazard partial construction that ultimately fails to result in the medical clinic, shops and really no community to speak of - the promise/concept that prompted me to buy there in the first place.
Put in place all the nice to haves that the DC community and surrounding expat population can/will make use of first, then selling the convenience of living close to these amenities would be a better approach and is what I would advise if someone were to ask for my input. But of course this requires developer money upfront and there is nothing tighter than the one-way wallet of a developer who won't risk their own money to make money. This one-sided development approach is usually pretty telling when it comes to determining if the project will actually come to fruition as planned.
I think the idea of having shops, dentists, doctors, a medical clinic, restaurants etc is an essential part of these communities. Unfortunately, most developers build housing before they put the anchors in place. Dream City would do better (imo) if they put in place the amenities first then built the residential community around these established businesses/services.
For the prices involved here, I wouldn't want to be the only villa surrounded by vacant building lots of overgrown land full of spiders, snakes, centipedes and rats looking forward to a decade or more of sporadic haphazard partial construction that ultimately fails to result in the medical clinic, shops and really no community to speak of - the promise/concept that prompted me to buy there in the first place.
Put in place all the nice to haves that the DC community and surrounding expat population can/will make use of first, then selling the convenience of living close to these amenities would be a better approach and is what I would advise if someone were to ask for my input. But of course this requires developer money upfront and there is nothing tighter than the one-way wallet of a developer who won't risk their own money to make money. This one-sided development approach is usually pretty telling when it comes to determining if the project will actually come to fruition as planned.
Since close to 70% of the construction is condo or hotel units no one in their right mind would build on spec. Minimum 18 months for condo construction, villas being built one at a time, and no hotel management company involved so far, only very "adventurous" business owners would consider setting up shop without an existing market. Just my 2 pesos.
And it depends upon how much money needs cleaning. Condo towers are constructed all the time in Santo Domingo and "sold" later.
This is a guaranty to get financially murdered. It will never happen plus the store owners and professionals need the residences to open shop and survive. The retail deals will not happen without occupied residences or at least many hard commitments.
This is just a developer floating out a plan to gauge presale possibilities to gain financing. If they can get the money and get the money right (minimally collateralized) they can break ground. If not, they won't.
Getting a bank in the DR to finance a project like this is not going to happen either. It will have to be private money or at least a large majority of it.
Dream City's Chairman of the Board
Hamid Tabibzadeh was born in Iran and immigrated to the United States in 1976 with his parents at the age of 17.
In 1983, he graduated from the University of San Francisco majoring in Psychology. Since coming to the United States, Hamid has become a serial entrepreneur having built and/or invested in dozens of businesses and created thousands of jobs.
His investments encompass a wide variety of industries including hospitality, manufacturing, healthcare and entertainment.
He started Preferred Independent Professional Association (“PIPA”) and Thrifty Health Care in 1996, producing a profit in their second year of operation, which profitability has continued, unbroken.
Growing to 50 central management staff, 10,000 health care providers, and approximately 300,000 patients, and with steadily increasing profits, he turned over day-to-day management and has since founded and built Dynamic Management Services, focused on discovering or creating new opportunities, while remaining involved with PIPA and Thrifty as Group Chairman.
In 2015 Hamid relocated to the Dominican Republic and has become one of the leading entrepreneurs in the country. Today he is launching his Dream City project in the Province of Puerto Plata, in the Dominican Republic.
This 300 acre (1,325,000-square meter) project will represent the largest development on the Dominican North Coast to date.
https://dreamcityresort.com/developer/
https://www.mylife.com/hamid-tabibzadeh/hamidtabibzadeh
Hamid Tabibzadeh was born in Iran and immigrated to the United States in 1976 with his parents at the age of 17.
In 1983, he graduated from the University of San Francisco majoring in Psychology. Since coming to the United States, Hamid has become a serial entrepreneur having built and/or invested in dozens of businesses and created thousands of jobs.
His investments encompass a wide variety of industries including hospitality, manufacturing, healthcare and entertainment.
He started Preferred Independent Professional Association (“PIPA”) and Thrifty Health Care in 1996, producing a profit in their second year of operation, which profitability has continued, unbroken.
Growing to 50 central management staff, 10,000 health care providers, and approximately 300,000 patients, and with steadily increasing profits, he turned over day-to-day management and has since founded and built Dynamic Management Services, focused on discovering or creating new opportunities, while remaining involved with PIPA and Thrifty as Group Chairman.
In 2015 Hamid relocated to the Dominican Republic and has become one of the leading entrepreneurs in the country. Today he is launching his Dream City project in the Province of Puerto Plata, in the Dominican Republic.
This 300 acre (1,325,000-square meter) project will represent the largest development on the Dominican North Coast to date.
https://dreamcityresort.com/developer/
https://www.mylife.com/hamid-tabibzadeh/hamidtabibzadeh
A bank would finance based on enough pre-sales, like may other projects around the country.
That's why you see billboards advertising deposits for "separation" on condo projects. The developer puts a % in, has a bunch of qualified pre-sale contracts, and a bank will finance the rest.
it's more than enough that you provide a link, no need to copy and paste, thanks.