aegap said:
Can someone please summarise today's Hoy newspaper article regarding this project
http://hoy.com.do/app/article.aspx?id=41713
The article is basically stating the project has began with a USS$50 Million investment on el Malecon between the Abraham Lincoln Ave and the Cambronal street, the money will be used to remodel & rescue the section.
It goes on to state the investment will ascend to USS450 million (337.5 million euros) when the project is complete and it will have tens of houses, tourist establishments, cultural centers and green zones. Also included is a wharf with several dock berths, commerce and centers of business.
It goes on to state who the devolepers and main players are: Santo Domingo Re-Development, Nesco (branch of Grupo Acciona), architect Ricardo Bofill and Adri?n Gilbert, Real Estate Promoter of the Costa del Sol represents a group of investors, they own 75% of Santo Domingo Re-Development. The rest corresponds to Dominican Eulogio Santaella, President of the SDReD.
It states why they want to build the island, to create a new image for the city of Santo Domingo and bring more tourist to DR. The project will be completed between 2012-2015 and will have about 7,500-8,000 residential units, commercial and office units, in order to house 50,000 people and it will need an investment US$10,000 million.
