Venezuelan businessman Gustavo Cisneros has announced plans to build Tropicalia, a resort and residential project in the Samana Bay-Miches area in the east of the DR, with an estimated value of US$485 million. Construction is due to begin in March 2010 and will be completed by 2030, with a further US$1.5 billion investment over that period for a total investment approaching US$2 billion.
Cisneros spoke of a vision for building a socially responsible tourism venture. He made his announcement during an American Chamber of Commerce luncheon, which was also attended by President Leonel Fernandez.