Its Official "Playa Grande Sold" By Central Bank!

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Gringo

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People looking for investment opportunity here in the DR? This is your chance!
This is the Biggest North Coast Real-Estate news story since Playa Dorada first broke ground.
My predication is that Playa Grande will become the next Casa De Campo of the North Coast!
I have been buying property in and around the Rio San Juan area now for the past 12 years in anticipation of this event, this is just the start of things to come in the Playa Grande area, the tip of the Iceberg ( Mark my words) When the next Government takes over this project will get the new President's full support. (Big Time)

Gringo
 
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Gringo

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Just a Thought........

I wonder if Herbert Kohler of the Kohler Bathroom and Golf Empire is also Playa Grande Holdings Ltd?

This is who has just purchased Playa Grande for the sum of $43.000.000. US.

Gringo
 
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Escott

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Hee... we drove by there today on the way to Cabrera and it is still a real long ride from the airport. I will wait till they put an airport closer before I start investing money.

Until they make something out of that area I don't see fast growth.


Scott
 
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jwampler

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It's enourmous

I agree with Gringo. This is going to be really big.
I understand Kohler is the company. You'd have to
see the property to understand the size of the project.

In my opinion this will help the entire north coast. In particular
the local people of Cabrera, Breton, Abreu and Rio San Juan will
benefit along with the hotels in the area-Eden Bay, La Catalina, Golden Dolphin, and Orchid Bay.
 
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Escott

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jwampler said:
I agree with Gringo. This is going to be really big.
I understand Kohler is the company. You'd have to
see the property to understand the size of the project.

In my opinion this will help the entire north coast. In particular
the local people of Cabrera, Breton, Abreu and Rio San Juan will
benefit along with the hotels in the area-Eden Bay, La Catalina, Golden Dolphin, and Orchid Bay.
Click to expand...
So why is it big? It has been operational and people I know have played there. What is going to be new?

Scott
 
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BushBaby

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Escott said:
So why is it big? It has been operational and people I know have played there. What is going to be new?

Scott
Click to expand...

My understanding is that there are to be 2 or 3 more hotels down there but EACH is to be to 5 star rating (That's 5 star USA, not your DR equivalent) & then they will build on 2 or 3 MORE golf courses into the complex!!

The consensus is that this will be an endeavour to attract the MONIED people from USA & Canada down to the DR by offering them QUALITY hotels & QUALITY golf courses at prices they can hardly afford!! - Grahame.
 
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Dolores1

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Published in dr1 daily news on 15 April 2004:

Wisconsin money for Playa Grande
Playa Grande, an area marked for major touristic development since a Shakland Cox & Associates study in 1972 envisioned the construction of 6,000 hotel rooms there, will be sold to the Kohler Company of Kohler, Wisconsin, USA, reports El Caribe. Located 80 kilometers east of the Puerto Plata International Airport, Playa Grande is well known for its golf course, designed by Robert Trent Jones, that has been described by many as the Pebble Beach of the Caribbean for its many holes that front the Atlantic Ocean. The 7.4 million-square meter land extension also features a gorgeous 1.6-kilometer stretch of beach. For details, see http://www.bancentral.gov.do/playagrande-e.html
El Caribe says the Monetary Board authorized on 25 March the sale of the land to Kohler Company, a manufacturer of bathroom appliances and power plants, which also has a hotel division. The newspaper report indicates the corporation plans to develop three five-star hotels with more than 300 rooms each, two golf courses, an airport, villages and other resort-supporting areas within the property. Reportedly, company chairman, Herbert V. Kohler Jr. will travel to Santo Domingo next week to finalize the deal. The Dominican Republic is a major purchaser of Kohler power plants.
El Caribe reports the sale was transacted for an estimated US$43 million, with US$20 million paid upfront. Calvo did not confirm the amount when asked by El Caribe reporters. The Central Bank?s Deputy Governor Felix Calvo told the newspaper that five companies had participated in the tender organized by Deloitte & Touch and Salomon Smith Barney. Calvo said the government would use the incoming money to help pay local debts and increase its reserve.
The Destination Kohler web site highlights the four existing Kohler deluxe properties in the state of Wisconsin, which emphasize golf and spa vacations in the United States. Pete Dye, who has designed golf courses in La Romana and Punta Cana, is the designer of the Kohler courses in Wisconsin. See http://www.destinationkohler.com/
 
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twhitehead

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Dolores said:
Published in dr1 daily news on 15 April 2004:

Wisconsin money for Playa Grande
Playa Grande, an area marked for major touristic development since a Shakland Cox & Associates study in 1972 envisioned the construction of 6,000 hotel rooms there, will be sold to the Kohler Company of Kohler, Wisconsin, USA, reports El Caribe. Located 80 kilometers east of the Puerto Plata International Airport, Playa Grande is well known for its golf course, designed by Robert Trent Jones, that has been described by many as the Pebble Beach of the Caribbean for its many holes that front the Atlantic Ocean. The 7.4 million-square meter land extension also features a gorgeous 1.6-kilometer stretch of beach. For details, see http://www.bancentral.gov.do/playagrande-e.html
El Caribe says the Monetary Board authorized on 25 March the sale of the land to Kohler Company, a manufacturer of bathroom appliances and power plants, which also has a hotel division. The newspaper report indicates the corporation plans to develop three five-star hotels with more than 300 rooms each, two golf courses, an airport, villages and other resort-supporting areas within the property. Reportedly, company chairman, Herbert V. Kohler Jr. will travel to Santo Domingo next week to finalize the deal. The Dominican Republic is a major purchaser of Kohler power plants.
El Caribe reports the sale was transacted for an estimated US$43 million, with US$20 million paid upfront. Calvo did not confirm the amount when asked by El Caribe reporters. The Central Bank?s Deputy Governor Felix Calvo told the newspaper that five companies had participated in the tender organized by Deloitte & Touch and Salomon Smith Barney. Calvo said the government would use the incoming money to help pay local debts and increase its reserve.
The Destination Kohler web site highlights the four existing Kohler deluxe properties in the state of Wisconsin, which emphasize golf and spa vacations in the United States. Pete Dye, who has designed golf courses in La Romana and Punta Cana, is the designer of the Kohler courses in Wisconsin. See http://www.destinationkohler.com/
Click to expand...



Can you copy the article or give a link to this news story...thanks tom
 
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Golfer

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No story here on Kohler acquisition

I live in Wisconsin next to the Kohler Company Headquarters and there is no news of any acquisition here. I suspect that if interviewed, as in April, spokesmen for the Kohler Company will say they haven't bought Playa Grande. Too bad, the injection of capital would be an enormous boon for the North Coast. If they had a four lane highway constructed in the bluffs overlooking the sea, by-passing the congested cities (similar to the construction taking place on the South Coast) the dynamic of the North Coast would change forever. Nobody with money is going to run the gauntlet of Gasper Hernandez to get to a five star hotel and I don't see the construction of another international airport with POP less than an hour from Playa Grande on a decent road. If a local story appears I'll post a link on the board.
 
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jwampler

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Hi Golfer

Thanks for your post. I was wondering if there had been any news release from the Kohler corporate office. Please post if one comes out.

I too agree that going through Gasper Hernandez is a bit scary. I've heard that a bypass is being built around that city. It's definitely needed but I doubt if you will see a 4 lane hightway.

The April 15th article that was published in DR1 about the project did say an ariport was part the overall plan. If that is still part of the plan it might be for small corporate aircraft. It seems hard to imagine a regular airport would be built that close to Puerto Plata. Also, I noticed that the latest report says the buyer is a holding corporation. That's a little different than saying Kohler directly.

I still consider it big news for the North Coast. In my own case, I too have purchased property in that area, so Im excited about the prospects and happy for the people of the area.

Thanks again for your post. Let us know if you hear anything.

Jack
 
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Escott

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Golfer said:
I live in Wisconsin next to the Kohler Company Headquarters and there is no news of any acquisition here. I suspect that if interviewed, as in April, spokesmen for the Kohler Company will say they haven't bought Playa Grande. Too bad, the injection of capital would be an enormous boon for the North Coast. If they had a four lane highway constructed in the bluffs overlooking the sea, by-passing the congested cities (similar to the construction taking place on the South Coast) the dynamic of the North Coast would change forever. Nobody with money is going to run the gauntlet of Gasper Hernandez to get to a five star hotel and I don't see the construction of another international airport with POP less than an hour from Playa Grande on a decent road. If a local story appears I'll post a link on the board.
Click to expand...
I don't see it either. Heck I hope it works and hope it is successful but I have my doubts. This road situation is getting worse. There are days you can't make it through Cabarete let alone Gaspar Hernandez.

Scott
 
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