(1888PressRelease)
May 12, 2007 - In Puerto Plata, Dominican Republic, such areas as the large land parcels at the circle of the Statue of David have now come under consideration for multi-million dollar development. These prime parcels are being marketed by West Indies Real Estate in Sosua.
This area, for so long ignored, has become the focus of several serious investments because of the new Government decision to offer increased building density to this high profile area.
The area is approximately 10 acres in three different parcels, and a further adjacent 3 acres offers space for either development of a bespoke 350 room hotel and commercial buildings or further residential development. The whole property is within 50 meters of the wide Malecon Beach.
Agreements are in place to grant building development of up to seven floors. This allows for a much wider opportunity to create a large scale and dramatic mixed development to an area of outstanding beauty and prime location.
Jose Loinaz of West Indies has been working on potential ideas to take advantage of the new Agreements and offer the possibilities of several options to would-be purchasers.
Interest in one of the prime pieces would be in creating well over 100 x 2 bedroom apartments all with outstanding sea views and internal courtyard views of boutiques, restaurants and banking areas.
The possibility to build up to 1200 rooms within 600 apartments with further land is in negotiation. Large parking areas will ensure this area will be utilized to its fullest extent and talks are ongoing regarding placing a small open air theatre and arts centre within the complex.
Discussions are already in place with Senor Jose Loinaz and Mr. Paul Hogg from West Indies Real Estate, who are the Managing Agents, to assist in the planning, design and build of such a property.
Snr. Loinaz, a long time resident and well respected businessman of Puerto Plata says: “Combined development of both commercial and residential is called for and with the Presidential decree authorizing zoning change away from town, the local population is eager to see these developments come closer and share the development in the town life and culture.”
The whole region of Puerto Plata is coming alive with much talk concerning the possibility of a new cruise ship dock next to Ocean World and negotiations with Central Bank 12,000,000 sq. m2 east of Playa Dorada for further hotel development.
Puerto Plata city has long seen the need to increase both its hotel, commercial and residential capacity. This location suits all criteria and the new building regulations allow for an upscale mixed oceanfront development to rival many in the south of the island and when completed will offer dimension to the capital of the north coast – Puerto Plata.
About West Indies Real Estate:
West Indies Real Estate has twenty one years of experience and expertise in the Dominican Republic Real Estate market. An international team of brokers fully experienced in all aspects of buying and selling Dominican Republic Realty; West Indies Real Estate covers a wide range of properties from beachfront or ocean view apartments, condos, penthouses, townhouses and villas to countryside estates and lots and land for building homes—tailored to suit your own ideas, investment property or commercial development.
Contact:
Judith Fox-Hogg, director of public relations
West Indies Real Estate
Calle David Stern No.6
Sosua, Dominican Republic
Tel: (001.809) 571 2820 / 571 2838
Fax: (001 809) 571 2860
Email: info ( @ ) westindies-realestate dot com
http://www.westinides-realestate.com
