Luis Molina, executive director of the Sans Souci Holdings project that is developing the Port of Santo Domingo, estimates that the remodeled port areas will welcome more than 70,000 cruise ship passengers this year. This is 30,000 more than in 2006 and is the result of improvements and expansion of the port?s facilities, allowing larger cruise ships to dock. The port enhancements are part of a US$700 million investment commitment in the area by the company that received a 30-year concession from the Fernandez administration. Molina forecast that in five year?s time, annual arrivals at the port should reach the million-tourist mark. He reported that US$50 million has been invested in the first year of the development. The project is due to be completed by 2010. The project?s next phase will involve the construction of a large yacht club and sports marina with capacity for 500 yachts of up to 140 feet, four separate ship terminals and docking areas, a shopping mall and duty-free shopping area, a beach club, two 900-room hotels and a convention center, a luxury condominium development, parking area and pedestrian crossway linking both banks of the Ozama River.