Associated Press: Meet the $2 Billion "TRUMP at CAP CANA"!!!!!!!!!!!!!!!!!!

aegap

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Associated Press: Meet the $2 Billion "Trump at CAP CANA"!!!!!!!!!!!!!!!!!!

via Business Week, ..


By MICHELLE CHAPMAN

NEW YORK


Real estate developer Donald Trump said Friday that he is teaming with Cap Cana SA to create a luxury resort on the eastern tip of the Dominican Republic.
The $2 billion project, named Trump at Cap Cana, will include a condominium hotel, golf course, golf villas, beach club and luxury homes.
Trump, president and chief executive of The Trump Organization, said entering the Dominican Republic with a Trump-branded property was a natural move because the location fits with the type of upscale resort he is looking to provide.
"People know it will be top of the line," he said.
A gated community of 68 luxury homes called Trump Farallon Estates at Cap Cana will be the first portion of the project to be developed. The homes, which will each sit on at least 1.5 acres, will be located on a bluff 60 feet above sea level.

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Trump Creating Dominican Republic Resort - Forbes.com
 
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aegap

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Here's the Press Release, ..​


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"I am excited to be building Trump at Cap Cana for several reasons. Not only is the Dominican Republic an exceptionally beautiful place with a wonderful history, but the allure of Cap Cana makes this a unique destination in the Caribbean," said Donald J. Trump. "This is going to be a magnificent project, and we look forward to developing thousands of spectacular acres into an elite destination that will be known worldwide in the years to come. I look forward to visiting often with my family."

"With the signing of this agreement, Cap Cana ratifies its goal to become renowned internationally as the 'World's Greatest Destination'," said Dr. Ricardo Hazoury. "By combining the Trump experience with Cap Cana's natural beauty and the talent demonstrated by our team of professionals, in addition to the stable economy of the Dominican Republic, we are confident that together we will continue to seamlessly create a new standard for tourism, real estate, and hotels for the entire region. We have no doubt this is a win- win combination and look forward to all that lies ahead."

Located on the Eastern tip of the Dominican Republic, Cap Cana is called "The World's Next Great Destination." It is the most important tourism and real estate project in the Caribbean, spanning more than 30,000 acres with over three miles of white powder sand beaches. Cap Cana is a project recognized for its ambitious dimensions as a fully integrated luxury community.

At the completion of the master plan, Cap Cana will feature more then 5,000 residential units and at least four luxury hotels. Also included are three Jack Nicklaus Signature Golf Courses (the first, Punta Espada, opened in November 2006) and the area's most state-of-the-art marina featuring over 1,000 slips catering to mega yachts up to 150 feet. The first phase of the marina will be inaugurated in spring 2007. Additional services and amenities include elegant boutiques, fine dining restaurants, world class spas, exclusive membership clubs, water sports, polo, and horseback riding facilities, to name a few.
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..stay tuned for the Trump at Rincon Bay, lol.
 
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Robert

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The east coast is already seeing amazing growth in real estate terms, now it's set to really explode.

This is VERY good news!!!!
 

DavidZ

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I knew it was only a matter of time before Trump put his name here, ( I actually half-jokingly just yesterday suggested he may build a tower in Santo Domingo) and Cap Cana makes the most sense at this point for a project like this. If they are using the big cliff at Cap Cana, it will be an amazing location...although not on the beach.
 

NALs

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Wow, I'm impressed with how rapidly Trump and the Cap Cana team came to an agreement.

Trump's daughter, Ivanka, was in the DR earlier this year seeing different projects and sights for a possible Trump real estate investment.

Good to see things moving in the right direction.

Where are the naysayers? There were many naysayers and now it appears that they have been erased from the map! LOL!

;)

-NALs
 

aegap

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Wow, I'm impressed with how rapidly Trump and the Cap Cana team came to an agreement.

Trump's daughter, Ivanka, was in the DR earlier this year seeing different projects and sights for a possible Trump real estate investment.

Good to see things moving in the right direction.
..
NALs
This may not be the only one, ...some time ago:

http://www.dr1.com/forums/real-estate/55720-wall-street-journal-drs-north-coast.html
Carlton's Hospitality Group has not been the only company looking into the Dominican Republic. In an exclusive interview with [Commercial Property News] in March, Trump Mortgage president & CEO E.J. Ridings hinted that Trump would be exploring potential resort projects in the country, although no specific ones have been announced.
 

aegap

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..f they are using the big cliff at Cap Cana, it will be an amazing location...although not on the beach.
That's precisely were it will be built. Here you can see Cap Cana expects to build at least TWO(!) golf courses there ..and so I suppose The Donald's will be one of those.
 

aegap

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I hope it is better financed that Trump Towers Tampa. Construction has stopped.
well, Grupo Abrisa will most certainly the one financing most of it. In fact, it recently issued the most successful bonds in DR history in which they were able to get several hundre million dollars in fresh capital.

Here's what Business Week has to say about my hunch:

Trump Jumps to the Caribbean
Donald Trump is lending his golden name to a resort and residential development at the eastern tip of the Dominican Republic. He invited some reporters to his Trump Tower offices today to brag that Cap Cana--which was already partially built before he jumped in--will be the most upscale development in the Caribbean. He said he knows a lot about the Dominican Republic and proved it by naming two Dominican friends: ballplayers Sammy Sosa and Albert Pujols. Trump declined to say how much of the project he's going to own, but it's a good bet that he hasn't put much money up. The Dominican developers behind Cap Cana probably value his name more than his cash. Judging from the lush p.r. kit, Cap Cana really does look like a beautiful part of the world. Completely unspoiled. I guess I should say: Completely unspoiled until now.
 

aegap

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Mostly Dominican Owned

I hope it is better financed that Trump Towers Tampa. Construction has stopped.
well, Grupo Abrisa will most certainly the one financing most of it. In fact, it recently issued the most successful bonds in DR history in which they were able to get several hundred million dollars in fresh capital.

edited to add, ..

Here's what Peter Coy, the Economic Editor of BusinessWeek, has to say about my hunch:

Trump Jumps to the Caribbean
Donald Trump is lending his golden name to a resort and residential development at the eastern tip of the Dominican Republic. He invited some reporters to his Trump Tower offices today to brag that Cap Cana--which was already partially built before he jumped in--will be the most upscale development in the Caribbean. He said he knows a lot about the Dominican Republic and proved it by naming two Dominican friends: ballplayers Sammy Sosa and Albert Pujols. Trump declined to say how much of the project he's going to own, but it's a good bet that he hasn't put much money up. The Dominican developers behind Cap Cana probably value his name more than his cash. Judging from the lush p.r. kit, Cap Cana really does look like a beautiful part of the world. Completely unspoiled. I guess I should say: Completely unspoiled until now.
Cap Cana (Grupo Abrisa) did something similar with NH Hoteles, ..

NH Hoteles US$100mln planned joint venture investment in Cap Cana:

[Cap Cana] is the largest tourist property project in the Caribbean, in Punta Cana in the Dominican Republic, just 10 minutes away from the [Punta Cana] international airport. [...] CAP CANA is one of the most attractive places of unique natural beauty in the Caribbean. It will have an exclusive beach club (already operating) and 6 18-hole golf courses, 3 of which are being designed by Jack Nicklaus, the best golfer of all time.

[...]The NH Hoteles group has a great deal of experience of success in developments of this kind, such as Sotogrande, [...] the best known luxury residential, golf and tourist complex in southern Europe.


(source: NH Hoteles press release)


I believe its construction is well advance and set to open late this year to early next year.
 
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suarezn

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I was going to say that Trump nowadays does not put much of his money into anything. He's paid to lend his name to the project and of course he does have some input as he obviously needs to make sure that his marquee name does not get affected by some shoddy construction.

I would think that this project will be financed by the same people who have financed the rest of Cap Cana. Regardless this is good news and hopefully we will have more of these types of investments that help The DR move up and compete at the high end of tourism and real state.
 

aegap

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yeah, where Trump will probably be most heavily participating is in the managing side of things, ..i.e much as Westin in Roco Ki ..NH Hoteles in Cap Cana. I actually think that way is more advantagious for all involved, and for DR as well.

Here's something I wrote some time ago about Cap Cana, ...


"Cap Cana is a village"
-According to this article in the French magazine "L'essentiel des Relations Internationales," when completed, Cap Cana will have 15,000 homes and will be able to accommodate an average population of 40,000. I believe that number to be higher than the current accommodation capacity of the entire Punta Cana region. Cap Cana will be a community about six times the size of Sotogrande, with better beaches and a larger marina, if I may add. How's that for sustainable upscale quality tourism!

http://www.dr1.com/forums/travel-qu...ullish-future-dominican-tourism-industry.html

Cap Cana is not done growing yet, ..what big name will be next?
 

Hillbilly

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"Mega yachts to 150 feet" is not that much. the top 100 very large ones are all over 200 feet.....

Oh well, we get the Donald...which, to my way of thinking, is like putting one of those "Gold Packages" on a S-500 to show you "really have money"...although he does know how to do things in a professional and first class way...glitzy but first class...

HB
 

aegap

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"Mega yachts to 150 feet" is not that much. the top 100 very large ones are all over 200 feet.....

Oh well, we get the Donald...which, to my way of thinking, is like putting one of those "Gold Packages" on a S-500 to show you "really have money"...although he does know how to do things in a professional and first class way...glitzy but first class...

HB
I believe it should have been "over" (as oppose to "up to"):
Coastal Systems International, Inc. | Publications | Perspective Vol. 4 Water Quality at Marinas: Flushing

Cap Cana is located on the east coast of the Dominican Republic near Punta Cana, just across the strait from Puerto Rico. The 29,000-acre development includes five miles of shoreline. The developer intends to excavate an entrance channel to create a large marina basin with 1.2 miles of navigation canals to accommodate 1,000 marina slips. This will be the largest marina in the Caribbean and the only one between Nassau and Puerto Rico capable of docking vessels over 150 feet in length.
Here's more:

The development is a new, world-class destination of unprecedented proportion. Coastal Systems International, Inc. has been retained to design coastal and marina improvements for the construction of the 1.25 mile-long Grand Canal. The marina will moor yachts up to 200 feet, with 13 feet of draft for the deep draft mega-yachts. The first in the Dominican Republic, this inland marina will provide better protection while preserving the natural beauty of the beach. The marina will eventually contain more than 1,000 slips, making it the largest marina in the Caribbean.
I believe Casa de Campo and even oven world can handle the 130 footers and the Cap Cana marina is so much more than those two, even conbined.
 
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aegap

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I meant it as an understatement

Better beaches than Sotogrande is not saying much!
Any one familiar witt the Sotogrande beaches should be able to immidietely descern that the different between it and Cap Cana's beaches is like the difference between night and day.
 

aegap

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The piddliest little beach in the DR fits that description.
exactly, I sort of meant it as a stab at Sotogrande's beaches relative to those of Cap Cana. i.e. Sotogrande is one of the greatest (if not the greatest) resort community in Europe yet at least ameneties wise,Cap Cana will be so much more!
 
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Chirimoya

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Sotogrande has all you might want in way of mansions, golf, polo, marina, club, luxury apartments, shops, hotels, spas, etc but the natural features of the area (mainly arid scrubland hills, some cork oak forests and ugly beaches with greyish sand) are nothing compared to the outstanding natural beauty of Cap Cana's setting, which is the ultimate beautiful Caribbean scenery, while that part of Spain's coastline is not that beautiful even by Mediterranean standards. I've visited Sotogrande frequently during the last 25 years and have seen it grow - to the point of explosion in the last couple of years. My sister owns a property in the neighbouring (and slightly less grand) resort of Alcaidesa.