By Indhira Desangles
Special for El Inmobiliario
If you had asked me a few decades ago, when I started in the real estate sector, I never imagined I would have the opportunity to talk about the dynamism and opportunities that the Dominican Republic offers for real estate investment, especially in the commercial sector. Today, as a business realtor and active member of the Association of Real Estate Companies (AEI), I want to share with you what I have learned firsthand about this very promising market.
A market that is growing and transforming
In the Dominican Republic, the economy continues on a positive trajectory. A 5% growth in Gross Domestic Product (GDP) is projected for 2024, reflecting a favorable environment for business and, of course, for real estate investment. However, this growth isn't limited to macroeconomic figures; I witness it daily with every project I see and every conversation I have with investors. The city is transforming, with more offices, more shops, more industrial parks, more businesses… the landscape is changing tangibly and rapidly.
Location is key
We live on an island, but the Dominican Republic has become a strategic hub for international trade. It's right in the heart of the Caribbean, with ports and airports connecting to the entire world, offering direct flights and ships to key destinations like the United States, Latin America, and Europe. For investors, this means world-class logistics infrastructure. Areas like Santo Domingo, Punta Cana, and Santiago are experiencing a growing demand for business space, from offices to industrial warehouses.
I remember when I started working in the sector, and how the need for better connectivity grew stronger with each passing day. Today, infrastructure improvements, such as the Duarte Highway and the Ring Road, which connect several key points in the country, have made getting around easier and faster, facilitating distribution and trade. This connectivity is a goldmine for businesses looking to optimize time and costs.
Tourism and business opportunities
Many might think that real estate investment in the Dominican Republic is limited to tourism. And while it's true that the tourism sector has played a significant role in market growth, what I see every day is that diversification is becoming increasingly important. Tourism drives a significant portion of the demand for commercial properties: restaurants, hotels, shops, and shopping centers. But what excites me most is the number of new projects emerging, from small businesses in tourist areas to large shopping centers designed to attract both tourists and local residents, and new industrial developments in areas that were previously primarily tourist destinations.
It's not just about short-term rentals or tourist properties. The market is evolving and becoming increasingly diverse. Many investors, both local and foreign, are betting on the commercial sector, seeing growth opportunities in almost every region of the country.
The industrial sector: a goldmine of opportunities
A couple of years ago, the market for industrial warehouses and logistics parks seemed like a niche sector. Today, this area is booming. Foreign trade and distribution companies need more space to store and move products, and supply still falls short of demand. The growth of industrial zones in places like Santo Domingo, Santiago, and Punta Cana reflects this trend, creating a perfect opportunity for those looking to invest in industrial developments.
Why now?
I believe the key to all of this lies in the moment we are living in. The Dominican Republic is a country in constant transformation, and this transformation is driven by a solid economy, policies that encourage foreign investment, and a logistical environment that continues to improve. If you have ever considered diversifying your portfolio or taking the next step in your real estate investment, now is the time.
Find the best options and advice on the real estate market to grow your portfolio in the Dominican Republic.
The author is a specialist in commercial and corporate real estate, with more than 20 years of experience in the national and international market.
