Leading Canadian property development company Lamb Development Corporation is lined up to participate in the development of Pedernales. The company already mentions “the five-hundred acre resort at El Cabo Rojo on the south-west coast of the Dominican Republic” among its overseas projects.
Listin Diario reports that the Canadian company has purchased the lands and presented a project to President Medina for real estate development, which includes investing US$1.2 billion for the construction of hotels, condominiums, villas, a cruise ship port, golf courses and shopping center. The company wants a concession for the port of Cabo Rojo, the military airport, the old Alcoa hotel and for sponsorship and conservation of Parque Nacional Jaragua and the coastal area where the development would take place. Investment could start this year and would depend on the resolution of the legal dispute affecting the property. The company proposes to invest US$525 million in the resort, US$300 million in condominium construction, US$280 million in golf course and villas and US$40 million in shopping and recreational areas. It is seeking to obtain two million square meters for the development. The project includes the construction of five to seven hotels and each resort would have 100 to 300 meters of beach, and would be 4-5-star quality with eco-friendly designs. It projects a room rate of US$400. The proposal includes the construction of 10-15 two- to four-floor seafront buildings for a total of 1,200 units with a selling price of US$249,900.
www.listin.com.do/la-republica/2013/2/21/266859/Proponen-construir-un-proyecto-turistico
http://lambdevcorp.com