Going against the expanded practice of renting expensive quarters in prime areas to house the bulging Dominican government offices, Indotel announced it instead will invest in purchasing its new headquarters.
The new headquarters would be a ten-floor building located on Av. 27 de Febrero, another prime urban area. The building has four underground parking levels for 99 vehicles. Indotel has a staff of more than 800 employees.
The Dominican Institute of Telecommunications (Indotel) is set to purchase the new building for RD$1.777 billion. This figure includes the cost of construction, equipment, land, and furnishings.
Indotel reported in a press release that the building alone is valued at RD$843 million (about US$13.3 million). The equipping of the building is valued at RD$737 million (US$11.6 million).
Indotel argues the purchase is a more cost-effective option than continuing with the present contracted space that costs US$100,000 a month or around RD$52 million a year. Indotel rents a prime area building on Av. Abraham Lincoln. By purchasing this new building, the institution expects to save the Dominican state RD$1.54 billion over the next 10 years.
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27 January 2025