SANTO DOMINGO. - Real estate tourism represents 32% of the country's housing supply, with traditional hotel tourism accounting for 68%, according to statements made by members of the Dominican Association of Real Estate Tourism Companies (ADETI).
The Dominican Republic has 85,000 hotel rooms, while those corresponding to real estate tourism amount to 27,000 units, in addition to 4,300 that are in the process of construction, explained Jorge Subero Medina, president of the entity; Michael Lugo, executive director and Roberto Despradel, advisor and author of the latest statistical study of the guild.
They specified that the investments in 15 projects exceed $10 billion, highlighting the significant growth that construction has experienced after the COVID-19 pandemic.
ADETI executives opined that the growth has been accompanied by a diversification of the supply in real estate tourism in the national territory, due to the fact that there are important projects in the provinces of La Altagracia, Samaná, Puerto Plata, Baní and later Pedernales.
They also highlighted that real estate tourism complements traditional hotel tourism, since according to a survey it has 64% of yacht moorings (marinas), as well as 64% of golf courses, plus tennis courts, among other offerings.
The Dominican Association of Tourism and Real Estate Companies (ADETI) stated that eliminating bureaucratic obstacles to receiving the benefits granted by Law 171-07 on Special Incentives for Pensioners and Retirees with Foreign Income would lead to significant growth in tourism and real estate investments, impacting job creation and foreign exchange earnings for the country.
They expressed confidence that the Zero Bureaucracy project could achieve this.
Source: Hoy Newspaper
