Samuel Pereyra said that the real estate division's portfolio has grown by 81% in the last year of management, with a greater concentration in the country's tourist centers.
Taken from Listín Diario
MADRID, SPAIN – The general manager of Banco de Reservas, Samuel Pereyra, reported at FITUR 2022 that the institution has approved financing of more than RD$7 billion for the construction of some 12,795 homes located in various tourism projects throughout the country, as part of its effort to support this important sector of the economy.
Pereyra added that in tourism projects in the East and North zones, Banreservas financed 1,700 housing units, for a value exceeding US$48.4 million.
Meanwhile, the Bank has more than 2,000 units in the process of being financed and structured in different tourism projects, equivalent to more than US$45 million.
He said that the real estate division's portfolio has grown by 81% in the last year of management, with a greater concentration in the country's tourist hubs.
The banking executive made the announcement during a luncheon organized by the Dominican ambassador to the Kingdom of Spain, Juan Bolívar Díaz, on the occasion of President Luis Abinader's visit to the International Tourism Fair (FITUR), which will be held in the Spanish capital from the 19th to the 23rd of this month and of which the Dominican Republic is a partner country this year.
“The Banco de Reservas feels highly committed to supporting the various projects aimed at developing tourism in our country, whether these are promoted by local or foreign investors,” Pereyra emphasized.
He highlighted that “Banco de Reservas has a real estate development unit, which has been one of the key pieces of support for the sector, since it has a specialized team that provides technical and financial advice on the management and structure of loans for the construction of real estate projects.”.
He added that the housing units built or under construction will contribute to further revitalizing the important tourist areas of Punta Cana, Bávaro, Boca Chica and Puerto Plata, where they are located, because in addition to expanding the available supply they will create new sources of employment.
Banco de Reservas has a full schedule of business meetings at this year's FITUR, with gatherings with tourism investors taking place since Monday, the 17th, as part of the trade fair. The Dominican Republic is participating again this year as a Partner Country, the only nation to have received this distinction twice.
