Playa Grande Project

AlterEgo

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Jan 9, 2009
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computer translated:

They will invest US $ 1,000 MM in Playa Grande

Darielys Quezada | September 13, 2017

US investors, attracted by the Playa Grande project, Rio San Juan, met yesterday with President Danilo Medina.

Investors expressed interest in encouraging the country to remain a major tourist destination. "Right now the project that most excites us is Playa Grande, in Rio San Juan, Maria Trinidad Sánchez, more than any other in the world. We bought this project in December and have already invested some $ 150 million more, "said Michael Meldman, president of Discovery Corporation, at the Orlando Martinez Hall of the National Palace, after finishing the meeting with the president. Meldman revealed that the investment in all phases of the project is one billion dollars that will generate approximately 2,000 jobs and which, he said, will help to boost the local economy.

"What we do is that we build resorts around the world from Hawaii to Barbuda, from Europe to the Middle East," he said.

The construction of a golf course is the most ambitious project, which was initially carried out by the former owners of the project where it had invested some 10 million dollars, but Meldman, current owner, indicated that to date have allocated approximately 7 million more so that this is the largest in the world.

"We think that this golf course could be the driving force behind this project as it promises to be the most extraordinary golf course on the planet", after noting that they were attracted by the good investment climate and social peace that prevails in the Dominican Republic .

In a first phase, which will launch in January, will include 100 new properties. "The goal we set ourselves is to make Playa Grande the most valuable and important resort in the Caribbean."
He said that during the meeting with the head of state, this gave them great support.

http://www.elcaribe.com.do/2017/09/13/invertiran-us1000-mm-playa-grande/
 

AlterEgo

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And another article:

Entrepreneurs buy Playa Grande tourist project for US $ 150 million

SANTO DOMINGO. A group of investors from the United States announced the purchase of the Playa Grande tourist project for US $ 150 million, after meeting with President Danilo Medina at the National Palace.

Michael Meldman, CEO of the Discovery Corporation group, said that further investment will be made in that project to make it one of the biggest tourist attractions in the world.

Meldman revealed that the world-renowned golf course, which had previously been invested US $ 10 million, was already remodeled "and now we are investing in that golf course an additional seven million dollars."

"We brought the architect who made the original design of this golf course, and we think this golf course could be the driving force behind this project, as it promises to be the most extraordinary golf course on the planet," said Meldman in wheel of the press at the Orlando Martínez show.

He explained that the Hotel Aman is being remodeled and that in the coming months it will be opening its doors to the public "and at the beginning of the year we will be launching our Phase One, which consists of 80 to 100 new properties and the goal we have set ourselves is to convert to Playa Great in the most important resort in the whole caribbean ".

"We think that with the golf environment, the local people, this property is going to be alone and for us it will be easy to reach our goal, the total investment of the project is billions of dollars and we hope to hire some two thousand local employees, which will be a good boost for the economy of the north zone, "he said.

Also, the Dominican Consul in New York, Carlos Castillo, said that the investors were made a presentation or demonstration of the Bahía de las Aguilas project and "they were excited about the same one by its natural beauty and its tourist attraction".

https://www.diariolibre.com/economi...co-playa-grande-por-us-150-millones-AY8144064
 

cobraboy

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Keep in mind the investment in the tourism sector comes with a 10-year income tax abatement.
 

NALs

Economist by Profession
Jan 20, 2003
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This is the news conference given by the government after the chit chat with the American investors. The head of the new investors at Playa Grande begins to speak in English at about 4:00 (you can jump to the spot by moving the cursor on the timeline on the bottom part of the video and clicking at 4:00).

[video=youtube;BVhh1Nt7dd4]https://www.youtube.com/watch?v=BVhh1Nt7dd4[/video]

All I want to hear is that thousands of new jobs will be created there, because that's the one thing the people need: JOBS!
 

JD Jones

Moderator:North Coast,Santo Domingo,SW Coast,Covid
Jan 7, 2016
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I'm from Missouri but I wish them the best of luck.
 

chico bill

Dogs Better than People
May 6, 2016
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Going to need an international airport there ? Will it be too expensive for normal expats to play or will it be for hotel guest only.
If it is $75 per $18 I'd play, once it gets to $100+ then I'll just keep playing pocket pool. If North Coasters can get a good rate they would invite their buddies from up North and Europe
 

Planter

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Aug 29, 2017
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The best investment they could do is to put all Dominicans and their trash on barges and send them to Africa. And then, after some deep cleaning, build beautiful resorts for normal people. Then import some Venezuelans and Colombians as service personnel.
 

chico bill

Dogs Better than People
May 6, 2016
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Sounds like you picked the wrong country to visit.

Sent from my HTC One A9 using Tapatalk
 

william webster

Platinum
Jan 16, 2009
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Hard to find courses under $100 any more.
Especially when you hear about $10M & $7M facelifts...

Costs of course maintenance are high...and the largest is the fertilizer bill which is hard to reduce
 

SKY

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Apr 11, 2004
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Going to need an international airport there ? Will it be too expensive for normal expats to play or will it be for hotel guest only.
If it is $75 per $18 I'd play, once it gets to $100+ then I'll just keep playing pocket pool. If North Coasters can get a good rate they would invite their buddies from up North and Europe


]
There is no price to pay. It is private, only for hotel guests. And rooms are about $7,000 US per night.
 

william webster

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Jan 16, 2009
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No not $7 but $2 or so....still

Reminds me of the Herb Alpert interview when he was questioned on his $35m donation to his college.
He scoffed... Oh no.... not $35M..... it was only $30M
 

chico bill

Dogs Better than People
May 6, 2016
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No not $7 but $2 or so....still

Reminds me of the Herb Alpert interview when he was questioned on his $35m donation to his college.
He scoffed... Oh no.... not $35M..... it was only $30M

Too high for me, would cut into my Barcelo budget. Guess my clubs will rot or rust
 

william webster

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Jan 16, 2009
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Too high for most --- me included--- I live nearby so have a bit of an 'in'.

High roller country.....but they continue to succeed despite my pessimism
 

Cdn_Gringo

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Apr 29, 2014
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Not sure we can really say the place is successful. It has been thus far a money sink. No sign of profits yet I bet. Changed hands twice, even more money invested in that golf course. Time will tell, but I wouldn't hold my breath that it will be anything but a tax loss for years to come and that's with the DR tax free holiday. For 10 years was it?