SANTO DOMINGO.- From the arrival in January of the first cruise ship to the far South, the introduction of two laws to strengthen the real estate and construction sector to the arrival of 10 million visitors to the Dominican Republic during the first 11 months of the year, these were part of the journey of the real estate, construction and tourism sectors during the recently concluded year 2024.
We reproduce 12 of the main news items that occupied the agenda of the aforementioned industry during the past year, originally published in the 9th edition of El Inmobiliario print.
In January, President Luis Abinader inaugurated the first phase of the Cabo Rojo Port in Pedernales, with the arrival of the Norwegian Pearl, the first cruise ship to arrive at this terminal with 3,000 tourists.
Also in January, the Public Prosecutor's Office arrested seven people. Through "Operation Nest," the group was accused of defrauding more than 500 victims of over 700 million pesos through the fraudulent sale of apartments in Greater Santo Domingo.
In June, a group of institutions in the construction sector asked the Ministry of Environment to expedite the approval of permits, arguing that they take up to eight months, harming the growth of the sector.
In August, the real estate sector presented a bill to the National Congress, which seeks to regulate real estate intermediation in the country.
Luis Abinader was sworn in as president for the second time on August 16, after winning the elections with 57.44% of the votes, highlighting national unity in his opening speech of the new term.
In August, the first stone was laid for the Hyatt Zilara hotel in Punta Bergantín, a tourism project that plans to build more than 4,000 rooms, representing the new north of the Dominican Republic in tourism.
In September, the Senate of the Republic presented a new bill to regulate real estate rentals in the country.
In October, the Dominican government arranged an operation to repatriate up to 10,000 undocumented Haitians per week, negatively impacting the workforce in the construction sector.
In October, the Executive Branch proposed a Fiscal Modernization Bill, which had to be withdrawn from the National Congress a few days later, due to the collective rejection of the population.
At the end of November, “ConstruyendoRD” was presented to the country, an initiative of the Dominican Association of Housing Builders and Promoters (ACOPROVI), which seeks the nationalization of labor in that sector.
At the end of November, the Monetary Board authorized the Central Bank of the Dominican Republic to release 35,335 million pesos from the legal reserve for loans intended for the construction and acquisition of housing.
The country reached 10,005,800 visitors in the first 11 months. According to the Ministry of Tourism report, these numbers represent a 54% increase compared to the same period in 2019, a 15% increase compared to 2022, and a 2% increase compared to 2023.
Cover photo: Billion Photos / Shutterstock
