The second son of President Donald Trump, Eric Frederick Trump, reportedly visited Punta Cana yesterday, Thursday, 2 February 2017. El Caribe reported he was in Cap Cana. Diario Libre reported his visit was short. He had arrived around noon and left that same afternoon.
Eric Trump and his brother have been entrusted with running the Trump Organization during their father’s presidency.
News archives reveal that in the Dominican Republic, the Trump Organization had promoted the Farrallones de Cap Cana real estate development in the Punta Cana area. In 2007 a new sales record in Caribbean real estate was announced when reportedly US$350 million gross was sold and 95% of inventory in the first four hours of the Trump Farallon Estates at Cap Cana.
Trump Farallon Estates consisted of 68 lots of land, ranging in size from 1.6 to 12 acres, and priced from US$3 million to US$12 million.
The project would go sour, nevertheless, as it coincided with the US financial meltdown in 2008. Trump Organization would later file a lawsuit against Cap Cana in a New York Court in 2012. The company claimed resort executives did not report that they owed US$15 million in licensing fees for use of the real estate mogul’s name and then failed to fully pay up when the discrepancy was discovered.
Read more:
El Caribe
Diario Libre
Trump at Cap Cana
Dominican Watchdog
3 February 2017
