$95 Million in Real Estate Sales (Luperon)

Robert

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Jan 2, 1999
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ATLANTICA - Largest Ever Multi-Use Residential Resort Community in the Caribbean - Closes Founder's Program at an Astounding $95 Million.

Puerto Luperon Corp, a major international development company, today announced the successful closing of ATLANTICA's Captain's Cove Founder's Program two months after its official launch on October 5, 2004, with more than $50 million in sales contracts and over $45 million in signed upgrade options.

http://biz.yahoo.com/prnews/041213/flm011_1.html

I love it!!!
 

BushBaby

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Jan 1, 2002
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Robert said:
ATLANTICA - Largest Ever Multi-Use Residential Resort Community in the Caribbean - Closes Founder's Program at an Astounding $95 Million.

Puerto Luperon Corp, a major international development company, today announced the successful closing of ATLANTICA's Captain's Cove Founder's Program two months after its official launch on October 5, 2004, with more than $50 million in sales contracts and over $45 million in signed upgrade options.

http://biz.yahoo.com/prnews/041213/flm011_1.html

I love it!!!

Do you think they might build in some places for CULTURE there too??? Got to get something to compete with Santiago & Sosua!!!

Otherwise, it sounds like a good deal for the north coast with a LOT more money available for distribution. I only hope that Hillbilly & I can afford the green fees at the golf courses they are going to open &/or the membership fees!!! ~ Grahame.
 

Simon & Nicky

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Feb 3, 2004
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I'm still not convinced

They did this in the UK - called it Milton Keynes!

It takes hours to get to Luperon because the road is so bad, or are they going to rebuild that too? Then they still need to convince people to open shops, restaurants and so forth. Don't get me wrong - it sounds fantastic, put me down for a harbourside house and boat BUT.............
 

Barnabe

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Dec 20, 2002
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Pierre Schnebelen is a guru in the French Alps, he developed Tignes and Val Thorens from scratch

Barnab?
 

NALs

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Jan 20, 2003
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Simon & Nicky said:
They did this in the UK - called it Milton Keynes!

It takes hours to get to Luperon because the road is so bad, or are they going to rebuild that too? Then they still need to convince people to open shops, restaurants and so forth. Don't get me wrong - it sounds fantastic, put me down for a harbourside house and boat BUT.............
This project of Atlantica includes their own private airport and private marina.
 

gringosabroso

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Oct 16, 2004
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"Astounding" ? Yes, but truhfull??? Dubious

I detect the strange, yet familiar, presence of Domincan smoke & mirrors! Hundreds of them.
Why am I extremely skeptical?
* I assume that this article speaks of US $, not DR pesos.
* What is a "contract"? What are "signed upgrade options"? Cash??
* Oct. 5, 2004, to Dec 13, 2004, is approx. 65 days.
* $95,000,000. gross sales [ie income, cash] means this Luperon developer averaged approx US $1,500,000. per day, in sales including Sundays.
* In the DR?? In Luperon?? Per day??
* If not "cash" how do these terms translate into cash? Possible?
* Who calcuated $95,000,000. What accounting methods were used?
* With the Peso trading @ 28 & the DR economy in shambles!!
* Please put me down as as very experienced, polite American sceptic. Is the Dominican Enron being born. Who will own this project in 4 years?
* Suggestion: don't buy any stock nor loan any money to this developer.
 

mido

Bronze
May 18, 2002
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gringosabroso said:
I detect the strange, yet familiar, presence of Domincan smoke & mirrors! Hundreds of them.
Why am I extremely skeptical?
* I assume that this article speaks of US $, not DR pesos.
* What is a "contract"? What are "signed upgrade options"? Cash??
* Oct. 5, 2004, to Dec 13, 2004, is approx. 65 days.
* $95,000,000. gross sales [ie income, cash] means this Luperon developer averaged approx US $1,500,000. per day, in sales including Sundays.
* In the DR?? In Luperon?? Per day??
* If not "cash" how do these terms translate into cash? Possible?
* Who calcuated $95,000,000. What accounting methods were used?
* With the Peso trading @ 28 & the DR economy in shambles!!
* Please put me down as as very experienced, polite American sceptic. Is the Dominican Enron being born. Who will own this project in 4 years?
* Suggestion: don't buy any stock nor loan any money to this developer.

Charles,

as far as I know it is US$'s.

Not quite as much was sold at the founders club event in Cap Cana in the Punta Cana area but still some US$60,000,000.
 

Narcosis

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Dec 18, 2003
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Any skeptics that want to look into this could go to their sales office in Santo Domingo on Winston Churchill ave, across the street from Banco de Reservas.

Georgeous ground floor office space with several 50 inch plasma screens playing promotional videos, worth a stop by.
 

BushBaby

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Jan 1, 2002
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Well Arnold Palmer thought he was REAL enough to be there in person & sell quite a few properties for the organisation. Also look at the board of the company & see quite a few impressive name there too. Playa Dorada hotels were awash with possible clients lat week - cars running prospects up to Luperon, aeroplanes doing the quick trip up etc ...... VERY impressive marketing behind the whole thing. It was all in the papers earlier this week. ~ Grahame.
 

Robert

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Jan 2, 1999
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You start off looking at a Four Seasons Menu, but depending on ?real? sales, you might just end up eating Kentucky Fried Chicken.

It's all about the ability of the sales team to sell the concept and the developer to keep the dream alive by actually move dirt and building.

The Atlantica strategy is exactly the same as the Cap Cana strategy.
Actually it's ex Cap Cana people that are involved in Atlantica.

Having worked (consulting) with Cap Cana for almost 2 years, you get a very good insight into how these dream projects are created and the pitfalls involved.

The $$$ numbers involved are huge and a good sales team can create a buying frenzy that can sell 40+ condos in 3 hrs. Not bad when you consider the cheapest was around US$280,000.

I hope Atlantica do well and keep the dream alive. It can only be good for the Dominican Republic.
 

Robert

Stay Frosty!
Jan 2, 1999
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BushBaby said:
Well Arnold Palmer thought he was REAL enough to be there in person & sell quite a few properties for the organisation.

Yep, and I'm sure he was paid very well to turn up and lend his name to the project.
When he tee's off from the 18th, then your know it's REAL.
 

Escott

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Jan 14, 2002
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If I had a quarter for every "REAL" project in the DR that never got done I never would have had to work one day in my entire life.

Yes, I will celebrate and count my chickens when he tees off from the 18th also. Until then... Heh!
 

Bartolomeo67

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Mar 18, 2004
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Luperon development

I just got back from the DR and visited my friend in POP who, together with her sisters and brother, sold her family's finca in Luperon to these developers. The Vasquez family had plenty of land there from El Estrecho to Bahia de Luperon. So for all the sceptics around here, at least that's done and a reality already.
She showed me the promotion booklet the developers published: absolutely impressive; check their website www.atlanticadr.com
Bartolomeo


Robert said:
You start off looking at a Four Seasons Menu, but depending on ?real? sales, you might just end up eating Kentucky Fried Chicken.

It's all about the ability of the sales team to sell the concept and the developer to keep the dream alive by actually move dirt and building.

The Atlantica strategy is exactly the same as the Cap Cana strategy.
Actually it's ex Cap Cana people that are involved in Atlantica.

Having worked (consulting) with Cap Cana for almost 2 years, you get a very good insight into how these dream projects are created and the pitfalls involved.

The $$$ numbers involved are huge and a good sales team can create a buying frenzy that can sell 40+ condos in 3 hrs. Not bad when you consider the cheapest was around US$280,000.

I hope Atlantica do well and keep the dream alive. It can only be good for the Dominican Republic.
 

Bartolomeo67

Newbie
Mar 18, 2004
592
2
18
57
Simon & Nicky said:
They did this in the UK - called it Milton Keynes!

It takes hours to get to Luperon because the road is so bad, or are they going to rebuild that too? Then they still need to convince people to open shops, restaurants and so forth. Don't get me wrong - it sounds fantastic, put me down for a harbourside house and boat BUT.............

Who needs a road when you have a yacht to get there or your own private plane to fly into the to-be-build airstrip ...
check their website www.atlanticadr.com and you will see that this place is not meant for ordinary living souls.
Bartolomeo
 

Dalhart

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Apr 1, 2005
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Skepticism

I agree with some of what you are saying. I am looking to spend 300-500,000 on an investment propety/vacation place and I can't seem to get a straight answer out of the people I have talked to. That is the main reason I am so glad that I found this forum...the people who are actually there and able to see the development can advise me or tell me that it is too good to be true. Some of the guarantees I was hearing and the push to hurry up and buy made me back off a little. I don't want to wait too long, because if everything is how they say it will be it could be another Atlantis (Bahamas). People who got in early there are really making out.