“Among the different private projects we will have more than 3,700 hotel rooms and almost 2,000 residential rooms, between the projects in operation and those under construction,” said Yamil Isaías, president of Promiches, yesterday when presenting the new destination of the Dominican Republic at Fitur.
Promiches and the Ministry of Tourism (Mitur) announced the start of construction of new hotel developments in that area, for an amount of more than US$735 million in public and private investments.
Minister David Collado said that the government is creating all the necessary infrastructure for Miches to become a successful tourist destination.
“In this administration, we have designed a Development Plan for Miches, and through Ceiztur and Inapa, we have managed to build the necessary roads, beach access, and the aqueduct to ensure that hotel developments have the necessary public infrastructure for their operational success,” the official stated.
The private organization in charge of promoting the development of Miches, Promiches, presented the different private investments, highlighting three hotels already in operation and several more under construction.
Isaiah said that in the next two years 2,000 additional jobs will be created, and that in ten years it is expected that this number will rise to 10,000 with the new projects.
At the event, architect Shaney Peña, director of planning and tourism projects at Mitur, explained the three concepts on which Pro Miches was based.
The Banco del Reservas reported that more than half of the rooms under construction are being financed by the institution, “the long-term tourism development of Miches includes the commissioning of 3,756 hotel rooms.
“Of that total, through projects already approved by our institution, 2,020 rooms will be enabled, more than half of that total,” said Samuel Pereyra, administrator of Banreservas.
In 2022, the Dominican government signed a collaboration agreement with Pro Miches for joint investment work for the development of this tourist hub, and it was reaffirmed at Fitur 2023.
Loan agreements
To promote and attract investors, the Ministry of Tourism held a business breakfast yesterday, in which existing, under construction and prospective hotel projects were presented, as well as the formalization of loan commitments.
The first agreement was signed by senior executives from the Fuertes Group and the banks Sabadell, Banreservas and BHD.
“This agreement guarantees a $300 million investment in Miches that we have already begun,” reported Tourism Minister David Collado.
The second agreement was signed between the Zemi hotel project and Banreservas, guaranteeing an investment of $180 million in the hotel, represented by its president, Frank Elías Rainieri.
The other projects in Miches
For Miches there are already 11 projects and investments from: Viva Wyndham All-Inclusive Resorts, Tropicalia, Secrets Playa Esmeralda, Dreams Playa Esmeralda, Zemi, Maralda, Inversora Playa Esmeralda, Miches Playa Esmeralda, Noom Miches, Development Sicuani and Aldea.
Currently, the Temptation (496 rooms) and Club Med (335) hotels are operating.
There are 831 rooms in operation and 1,534 under construction. There are 577 rooms and 24 residential units planned for construction, as well as 1,220 rooms in the permitting process and 830 residential units.
It is estimated that all these projects will generate 10,000 jobs during the construction processes and another 6,000 during operation.
Of the 3,756 hotel rooms that will be put into service through projects already approved by Banreservas, 2,020 will be enabled.
In addition, the bank is evaluating nine projects with a total approximate investment of $839.10 million and an estimated financing amount of $397 million, reported its general manager Samuel Pereyra.
Of the more than 93,000 inhabitants that the province of El Seibo has approximately, more than 22,000 live in the municipality of Miches,which is located at a distance of almost three hours from Santo Domingo and an hour and a half from Punta Cana.
