In the first phase, 4,700 rooms will be built, with a density of 30 rooms per hectare. The Cabo Rojo Tourism Project in Pedernales will cover a total area of approximately 38 million square meters.
MADRID, SPAIN- Six well-known international hotel chains, such as Hilton, Marriott, Sunwing, AmResorts, Iberostar Group and Karisma Hotels & Resort, are slated to begin operations in the opening of the first stage of the new tourist destination in the Dominican Republic in Cabo Rojo, Pedernales.
The information was provided by the executive director of the General Directorate of Public-Private Partnerships (DGAPP), Sigmund Freund, when presenting the official Master Plan of the Pedernales Tourism Development Project, with the attendance of President Luis Abinader, within the framework of the 42nd edition of the International Tourism Fair (Fitur), in Madrid.
Freund specified that in this first stage of the project 4,700 rooms will be built, with a density of 30 rooms per hectare and added that this is the lowest in the development of tourist centers in the country due to its commitment to being an eco-friendly destination.
He added that Cabo Rojo-Pedernales has all the conditions to become a tourist reference in the Caribbean, located in the very center of the Caribbean, one hour and 24 minutes from Miami, 2 hours and 58 minutes from New York and 8 hours from Madrid.
“Pedernales is already a benchmark, as it is the only destination to be developed from scratch under a public-private partnership, with a master plan that defines every detail of its execution in the four phases planned to be implemented in the next 11 years,” Freund said in the presentation held in the Ballroom 1 of the Rosewood Villamagna hotel in Madrid.
Project details
During the presentation, the consultants responsible for the design of the master plan and the financial model of the project, Diego Forero and José Gior Ariza, offered the technical details of the project.
The official investment plan and business model, presented by the consultants, estimates a total investment of US$2.245 billion, with both public and private contributions. They highlighted that the land contributed by the State is valued at US$719.1 million, while the construction of the hotels is projected to require an investment of US$977.6 million.
At the conclusion of the consultants' presentation, the Minister of Tourism, David Collado, highlighted the importance of the development of this new destination for the growth of Dominican tourism and the Dominican economy, and affirmed that the impact of this project on the Southern region is incalculable.
At the close of the presentation, President Luis Abinader reiterated the importance of this project and announced his commitment to creating all the necessary infrastructure for the successful development of the area.
The president emphasized that this new and spectacular tourist destination will create approximately 20,000 direct jobs and more than 50,000 indirect jobs, with all that this implies for the economic dynamism of a region, and concluded his remarks by stating that “this is one of our most ambitious projects. One of the most requested and necessary.”.
Meetings with investors
The CEO of DGAPP completed a schedule of private meetings with Spanish investors, to whom he presented the portfolio of projects that will be developed in the country under the public-private partnership model.
Freund, along with a delegation from the DGAPP, participated in a series of activities to promote and attract foreign investment to the country, organized by the Ministry of Tourism, the Banco Popular Dominicano and the Banco de Reservas.
Thetotal project
The Cabo Rojo, Pedernales Tourism Development Plan covers a total area of approximately 38 million square meters, located between protected areas and will include the construction of luxury and eco-friendly hotels, with sustainable energy generation capacity, in addition to the construction of affordable housing for employees of the area and the project.
It consists of four phases over an average of 10 years of implementation with an estimated investment of US$2.245 billion for 12,000 rooms.
The first phase stipulates a US$1.3 billion investment for the construction of 4,700 hotel rooms, an international airport, a shopping center, and all the necessary basic infrastructure, such as an aqueduct, a water treatment plant, and an electrical transmission system. It will also include a botanical garden, a commercial area, a golf course, villas, a buffet, an airport, and a water park.
