SANTO DOMINGO. During the past year, 2022, the real estate trusts of Fiduciaria La Nacional reached a total of RD$122,919 MM in managed assets with 152,428 units under construction and 40,493 delivered, which demonstrates the positive impact of the trust that went from 14 trusts in 2013 to 1,042 in 2022, the entity reported.
Cesar Páez, General Manager of Fiduciaria La Nacional, explained that for over ten years the fiduciary sector has proven to be a vital component of the country's real estate development. "That's why at Fiduciaria La Nacional we have continuously committed to promoting the sector and raising awareness of the value of trusts, along with other key players in its development," the executive emphasized during a workshop held in Santiago de los Caballeros with nearly 100 builders from the northern region.
Páez explained the execution phases for a trust contract, from the preliminary stage in which compliance with conditions is evaluated, to the execution phase that governs the process and the consolidation of final sales.
The workshop “Trust: what every developer should know”, was held for members of the Association of Housing Promoters and Builders of Cibao (APROCOVICI).
“We are pleased to carry out joint initiatives with APROCOVICI, for whom we wish to be a channel for the exchange of ideas and projects that benefit the growth of the community and the guild,” Páez stated.
He highlighted the ability of trusts to offer independence, transparency, and security in the management of financial resources.
He said that for Fiduciaria La Nacional, the trust is currently a vital piece for the country's real estate development because it has positively influenced the reduction of the existing housing deficit, hence the importance of presenting its details to the members of APROCOVICI.
The press release explains that the idea behind the activity was to inform construction sector stakeholders about the key aspects of designing a real estate trust and how the contract process works, from structuring to liquidation.
Sandy Rodriguez, Sara Reyes, César Páez, Alba Brea and Alejandro Fondeur. (External source).
The National Trust Company
Fiduciaria la Nacional began operations in 2014, with the objective of creating and managing trusts under Law 189-11. It is a fiduciary company subsidiary of the La Nacional Savings and Loan Association that operates autonomously and independently under the supervision of the Superintendency of Banks of the Dominican Republic.
Its offering extends to all sectors of the national economy through trusts for the administration of assets and resources in general, real estate administration and development trusts, guarantee trusts and payment source trusts, among other fiduciary products.
They have the necessary experience for the structuring and management of trusts for the administration of resources derived from public-private partnerships, trusts for the administration of state assets under the corresponding legal framework.
