All the more reason for expats to keep only a minimum amount of funds in RD banks.
Most condo projects that I have worked with (granted not in RD) are privately financed.
- Thread starter judypdr
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Dream City Resort Near Puerto Plata Airport?
All the more reason for expats to keep only a minimum amount of funds in RD banks.
Most condo projects that I have worked with (granted not in RD) are privately financed.
Which comes first, the chicken or the egg? Investors willing to plunk down cash and bet that an entire community will spring up around them some years down the road or a not yet completed community with existing amenities that potential homeowners would like to live in?
For me, show me the amenities that I am interested in or show me somewhere else that has what I am interested in. I do not believe developers when they say that someday there will be a marina where I can tie up my yola until there actually is a marina, or a medical clinic, or a movie theater.
Good luck to them. Much too risky to be of interest to me at these initial stages and for many years to come. Maybe in my next life...
For me, show me the amenities that I am interested in or show me somewhere else that has what I am interested in. I do not believe developers when they say that someday there will be a marina where I can tie up my yola until there actually is a marina, or a medical clinic, or a movie theater.
Good luck to them. Much too risky to be of interest to me at these initial stages and for many years to come. Maybe in my next life...
Here we are 3 years later. This from Sosua News:
This concerns 1,500 apartments and villas. In addition, there is a shopping center with a cinema, supermarket, university, food court, pharmacy, gym and spa, beauty salon, restaurants and parking. There are also recreation areas with walking parks, botanical gardens, playgrounds, sports fields and a water park with swimming pools. It will provide employment for thousands of residents on the north coast. But, says Oscar Peralta, the construction of this complex is seriously delayed due to bureaucratic regulations and obstacles.
17 November 2020
Dream City-project
Oscar Peralta from the Sosúa Tourism Office asks the city council and national government to get rid of the bureaucratic barriers to the Dream City Project. The Dream City Country Club & Resort hotel and real estate project consists of a complete residential community between Puerto Plata and Sosúa. The project conceived by Iranian businessman, and US citizen, Hamid Tabibzadeh, will cover an area of ??1,325,000 square feet, with an estimated 4,744 rooms.
Dream City-project
This concerns 1,500 apartments and villas. In addition, there is a shopping center with a cinema, supermarket, university, food court, pharmacy, gym and spa, beauty salon, restaurants and parking. There are also recreation areas with walking parks, botanical gardens, playgrounds, sports fields and a water park with swimming pools. It will provide employment for thousands of residents on the north coast. But, says Oscar Peralta, the construction of this complex is seriously delayed due to bureaucratic regulations and obstacles.
Source: Sosúa Digital
So that is where they want to build that. I came within a hair of buying a nice chunk of land in there but all of the houses with walls topped with barbed wire spooked me off.
So they would build right up to but not include the Sand Castle property?
So they would build right up to but not include the Sand Castle property?
it's barely visible on the right of the Dream City project (Notched out actually) and overlooks the bay.
You should google it. It was a really nice 5 star hotel that never took off.
I stayed there on their opening night and got to meet all of the Miss Dominican Republic contestants who were there filming.
You should google it. It was a really nice 5 star hotel that never took off.
I stayed there on their opening night and got to meet all of the Miss Dominican Republic contestants who were there filming.
Yes! Definitely. They actually maintained it for years with a full complement of guards that watched over it after it closed but now looks like you see in the video.
It was a 5-star resort and was really something to experience when it first opened.
As with all of the other major hotels in Sosua, not enough of a customer draw to keep Sandcastle and the others open as envisioned. I have my doubts about the longevity of Dream City too. Looks good on paper but what will become of it when it is half constructed and all of the maintenance and grounds keeping stops. Another grocery store, food court and the other proposed amenities sounds good as I am all in for more retail choice but I have to question the choice of Sosua as a location capable of sustaining all that the developer wants to build there. If it works, it could be an interesting place to live but if you buy in and it fails, you end up with a pretty uninteresting real estate holding surrounded by unkept spaces and mosquito breeding ponds that used to be swimming pools. The project is seriously behind schedule already and even if the admin hurdles are removed, the project seems a bit too ambitious to be viable as it is being marketed.
Exactly. I stayed at the Sand Castle probably 16 -18 times over a year or so and I never saw another person there in any of my visits.
And with no customers, the services started going downhill considerably as they go to know me because of my frequent visits.
I wasn't surprised when it folded.