Juan Dolio - South Beach of the Caribbean !!!

[mikey007]

cmon now no further input as to the metro capella rumor theres an old chinese saying your silence is deafening.

[Fernandez]

Metro should be proud that the President spent time to visit and inagurate the 2nd beach project. Clearly, the importance of the event focuses clear upon the importance that the development of Juan Dolio means for the island and the respect that Metro has at important levels of the public sector.

Interesting, however, that as the market moves towards owner occupied residences, the "Tourism" focus on the area continues to dominate its character. Problem is- there are no tourists. The "investors", such as I, have purchased units primarily in the first round of speculation- profit, turn around sales. I gather from others who own in buildings that the rental units are few in filling, thus, tourists are needed to make the "investment" a hit. Once again, if it is Tourists that will rent private apartments from investors, there need to be things to do, places to see, walk to, etc....

etc........

So,
Is it Tourism that will lead this expansion....or is it true "residential" occupants that will bring about the growth? I have no firm data to convince me one way or another- no information on sales, prices, purchases etc.... no one has yet brought transparency to the question.

I am convinced the area will be a successful region in a few years. Metro is doing a good job, but releasing little data- kind of a like a big brother that you hope does you well but doesn't want to take you to his date - In the end, so much more needs to be done and yet, it is so slooooooow in coming.

As written in my previous posts and projections, the European markets have now tanked, the Euro broke 1.6/US, the prospects for economic rebounds are on the whim in all Eurozone nations, Real estate values are plunging..... and at the same time, construction costs and raw materials are on the rise... For those of us who invested and entered into contracts 2 years ago, having made deposits, it would appear that there are investments that are now on-paper gains. However, you have to ask who will be around to buy ....and at what price? And without the transparency with which to work, its going to get messy.

Finally, I am starting to feel tension and concern ref: civil / social unrest. There have been numerous posts in the press concerning the difficulties now facing the Dominican society, and the loss in purchasing power vis a vis the increasing costs being transferred to all local consumption. The government spending, abuse of services and ongoing hypothecation of public resources through international debt without meeting corresponding cuts in local expenditures- this is leading the country into a spiraling inflation spin, and a real possiblity of a currency devaluation. This, at a time of high energy costs (robbing liquidity) and continued blackouts and shortages.... Any difficult social situation will immediately revert to another " USA warning" on travel to the Dr, and spread the concept to others whom might otherwise consider investing in the country.

I hope this doesnt come to be.

[Matilda]

I think you might find that the President's personal financial involvement in Metro has something to do with his always being here when Metro properties are opened. He is known as the Padrino of the Metro group along with the Minister for Tourism.

The rumours are strong that Metro has also bought Capella - which is the last 4 star hotel here, to be also converted into apartments. Maybe the rental pool is working but we see little sign on the streets and when you can rent an older apartment for a month at the same price as a Metro apartment for a week it is hard to think of too many takers.

From my perspective the only people we see at the weekend are Dominicans from the capital who simply do not go out from their apartments so the traditional tourists bars and restaurants and gift shops will just continue to close. And to be honest the Dominicans from the capital will only need things like a pharmacy and a doctors in case of an emergency.

Only time will tell, but at the moment petty crime is rising here, more and more Haitians are occupying the land behind the construction sites with their families they have brought with them, so that they can work on the construction sites. And more bars and restaurants are closing.

We, in the colmado are having a very poor July, as also many of the construction workers have not been paid and more ex pats are leaving.

Happy days!!!!!!

matilda

[Fernandez]

Sorry to hear that you are facing problems.
Didn't know about Fernandez and Metro- I'm not very informed about this matter, and while it might be rumored such a relationship in such a direct manner would be a bit "risky" and probably questionable from many sources. Nevertheless, alot takes place in the DR that raises issues.
My concern is on the social inequity that is increasing in the country, and the possible civil unrest that can result from a few of the national labor groups resurrecting strong swells of displaced persons. There is no end to the number of distressed they can gather- not a pretty thought. The Haitian occupation of lots is an issue- perhaps there needs to be a sweep through the area to investigate and clear it up- don't know how that is organized.

Keep the faith- hopefully things will get better. Who knows.

[Matilda]

I'm still happy enough!!! But the Haitisn issue is interesting. Many of those buying new apartments and houses in the area, especially those a few streets back from the Boulevard, are not happy to have thier new luxury apartment or house surrounded by wooden shcks with all the associated problems of open fires, contaminated water etc. Unfortunately while there is construction, as the people doing the construction do not provide accommodation then there is nowhere else for the workers to stay.

You are right also that for the rental pool to work there needs to be things for the tourists to do, but no one in their right mind would open a tourist related business now when there are no tourists. Chicken and egg!!!

The main sales at the moment from what I can see are the undeveloped lots of land, as people still seem to think that prices will continue to rise.

Matilda

[mikey007]

wouldnt it be a good fit if metro has bought capella at least they could improve the food and have more input into tourism in the area

[mikey007]

any progress in marbella and the maxim bungalows gre:gre:gre:gre:

[Fernandez]

Well, there is no water in the houses at the Metro Country Club- while I have been out of the country my staff at home report that there have been 4 to 5 days from morning to 5:30pm where there is no service to the homes. This, despite the fact that the Metro Embassy Suites has had water throughout. I wonder why there is no water, and there has been only one notification that costs are going to rise, however, no explanation as to why there is no water.

I plan to call today to seek some answer.
Yet, there will be an increase in charges.
Don't think so....

[Fernandez]

the lack of pressure and water at home was a failed pump -so we are told.

The water usage has been limited at the Metro CC.. They are asking all homeowners to not use / spread water on their lawns from 8am to 5pm to assist with conservation and allow for water pressure to build into the homes. No one can argue with the cooperation of water usage- the Hotel seems to be a non- issue, with water pressure 24 hours / no problem.
The Electric charges to homeowners has now been increased by 23%. This charge reflects the increases in the cost of providing energy.

Interesting.

Jersey Central Power and Light was just awarded a 4% increase- first in 3 years. We know the energy situation in the DR is out of control, but in a country where no one pays, perhaps they should first try to get people to pay for power instead of driving the cost to those who do.

[Matilda]

Originally Posted by Fernandez

the lack of pressure and water at home was a failed pump -so we are told.

The water usage has been limited at the Metro CC.. They are asking all homeowners to not use / spread water on their lawns from 8am to 5pm to assist with conservation and allow for water pressure to build into the homes. No one can argue with the cooperation of water usage- the Hotel seems to be a non- issue, with water pressure 24 hours / no problem.
The Electric charges to homeowners has now been increased by 23%. This charge reflects the increases in the cost of providing energy.

Interesting.

Jersey Central Power and Light was just awarded a 4% increase- first in 3 years. We know the energy situation in the DR is out of control, but in a country where no one pays, perhaps they should first try to get people to pay for power instead of driving the cost to those who do.

maybe you should dig a well???? this is one of the reasons why I do not want to be connected to the so called fresh water they are installing in Villas del Mar. My well always has great pressure and never runs out - somewhat salty though!!!!

Matilda