Juan Dolio - South Beach of the Caribbean !!!

[Fernandez]

If there exists any group capable of handling the current crisis it is the Metro Group. They have the necessary attributes that can cushion them against the current real estate storm. However, even they have will have to divert capital and revisit plans in order to meet the changes that have plunged the market into a dismal disarray.
Capital to build is one thing: turning the capital via sales/liquidity is another.
My concern is that the first is becoming increasingly expensive and out of the projections previously considered- including any normal margins for miscellaneous, price increases etc... , and the second part (buyers) are now very few and hard to find.

Its like Warren Buffet says: "its only when the tide retires that we can see who is wearing a bathing suit"

[STEVE G.]

... meanwhile I see only progress in Juan Dolio . Most of the projects are well advanced ( Marbella by Metro , Residencial Penolope , Condominium Playa Coral , Aqua Loft etc.) , on the final stages ( Plaza Del Mar , Atabey II , Colonia Tropical Tower , Sun Towers , Residencial Sulenny VJ , Josymar , Residencial Flamingo , Villas Del Sol II etc. ), or done already ( Club Hemingway , Costa Del Sol I & II , Atabey I , Aqua Tower , Bello Mar I , Amicus Condominiums , El Retiro , Aguamarina Residence , Residencial Brisa Marina , Residencial Marbella , Residencial Abdimar , Residencial Marechiaro Beach , Residencial Riomar II , Villas Alexandra , Villas Del Sol I & II , Villa Bonita complex etc. )... and others more to come . There are almost no more land left on the Boulevard , so more developments comes inside , like a new 16 Tower building next to Plaza Real Resort is well advanced (going for 7th floor now) , there is onother new 8 floor tower right behind Josymar Condo ( ground works now). On Boulevard another new Tower next to Colonia Tropical . A huge corner lot in front of new comercial center ( Plaza Del Mar ) and Capella Resort is cleaned up for a new development . There are works on the Boulevard extension in front of Atabey projects now .

[Fernandez]

There appear to be a good number of projects underway - what's the status of Las Olas- deposits taken 2 years ago and sloooowww.... anyway, clearly there is some activity- don't know about all these "future" projects- seem paper deals at this point.
With all this building projected, I wonder where the sales are going to come from- the current state of sales in the area is dismal.

Perhaps someone with better information can enlighten the topic with concrete sales data on some of these projects.

[STEVE G.]

Originally Posted by Fernandez

... don't know about all these "future" projects- seem paper deals at this point...

The projects I mentioned in my last post Fernandez are not "future" , they are done or well advanced and on their final stages of construction . The situation with Las Olas is clear to me , Metro is going to finish Marbella first .

[Fernandez]

Originally Posted by STEVE G.

The projects I mentioned in my last post Fernandez are not "future" , they are done or well advanced and on their final stages of construction . The situation with Las Olas is clear to me , Metro is going to finish Marbella first .

Thanks for the update. My impressions are exactly the same - projects under construction and being built. The question I have relates to the liquidity of apartments, the sales statistics for the area (including existing homes / condominiums), and the impact of the current vaporization in sales on prices. I have no doubt the properties are under construction / being finished, but I also have no doubt that sales are well, well below expectations.

Ref: Las Olas
Again, Metro has alot on its hands. They will eventually finish these projects. However, I wonder why start / build up the marketing and sales on the San Pedro Project while they have capital commitments and completion requirements at Las Olas??? And why should investors in Las Olas have to wait for the Marbella deal to be finished- I don't recall that as a condition in any contract- there is a financial cost associated to non-completion. If investors get peeved, they might employ a legal strategy in their defense by selling the litigation rights under the contract to a USA corporation who seeks relief via a court in the USA- not a pleasant thing to have to defend based on US law- don't you agree?

[dulce]

I find it hard to believe that right now there are 35 projects going on at once in Juan Dolio.
I think maybe there is activity looking for investors, graphic renditions of proposed projects and a small amount of sales teams working on selling the dream. Neither investors nor customers want to wait 10 to 20 years for a return on their money.
At least someone believes in the dream. Can anyone living in Juan Dolio tell me for real how many condo complexes are finished and how many units sold out?

Copying from Steve G. The following: * Nothing personal Steve, I am just a realist.
meanwhile I see only progress in Juan Dolio . Most of the projects are well advanced
1. Marbella by Metro
2. Residencial Penolope
3. Condominium Playa Coral
4. Aqua Loft etc

on the final stages
1. Plaza Del Mar
2. Atabey II
3. Colonia Tropical Tower
4. Sun Towers
5. Residencial Sulenny VJ
6. Josymar
7. Residencial Flamingo
8. Villas Del Sol II etc.

Or done already Club Hemingway
1. Costa Del Sol I & II
2. Atabey I
3. Aqua Tower
4. Bello Mar I
5. Amicus Condominiums
6. El Retiro
7. Aquamarine Residence
8. Residencial Brisa Marina
9. Residencial Marbella
10. Residencial Abdimar
11. Residencial Marechiaro Beach
12. Residencial Riomar II
13. Villas Alexandra
14. Villas Del Sol I & II
15. Villa Bonita complex etc.

And others more to come. There are almost no more land left on the Boulevard , so more developments comes inside , like
1. a new 16 Tower building next to Plaza Real Resort is well advanced (going for 7th floor now)
2. there is onother new 8 floor tower right behind Josymar Condo ( ground works now).
3. On Boulevard another new Tower next to Colonia Tropical .
4. A huge corner lot in front of new comercial center ( Plaza Del Mar )
5. Capella Resort is cleaned up for a new development .
6. There are works on the Boulevard extension in front of Atabey projects now .

[STEVE G.]

Originally Posted by dulce

I find it hard to believe that right now there are 35 projects going on at once in Juan Dolio... Can anyone living in Juan Dolio tell me for real how many condo complexes are finished ...?
* Nothing personal Steve, I am just a realist... .

There are actually more than 35 between smaller projects , proposed projects ( not started yet ) and slow or temporaly stoped projects that I did not mention. Read my notes , I just have mentioned WELL ADVANCED projects , ON FINAL STAGE of construction and DONE ( means finished ) projects . Nothing personal dulce , but I do not think you´ll get any different info than this one. So how many condo complexes are finished already
1. Club Hemingway
2. Coral Park (reconstruction)
3. Costa Del Sol I
4. Costa Del Sol II
5. Atabey I
6. Aqua Tower
7. Condominium Colonia Tropical (reconstruction)
8. Bello Mar I
9. Amicus Condominiums
10. El Retiro
11. Aquamarine Residence
12. Residencial Brisa Marina
13. Residencial Marbella
14. Residencial Abdimar
15. Residencial Marechiaro Beach
16. Residencial Riomar II
17. Villas Alexandra
18. Villas Del Sol I & II
19. Villa Bonita complex ... sorry if I do not recall any more

[dulce]

Thank you Steve. I did read your notes and now I will visit your webshots page to refresh my memory on the completed projects.
The second part of my question was how many units sold out?
Between all the old apartment buildings and the added new condos I would expect to see the town bustling with people. Ya, Ya I know, people are buying for investment or rich Dominicans buy for weekend use. So where are the renters and rich Dominican families?
A buyer would like to see the "now" factor of filled condos.

[Matilda]

Dulce - bustling it is not.....yet. Only with Haitian construction workers and even those are getting less at the moment as some construction has stopped. I only know the status of two new developments. The tower at Colonia Tropical has only sold one (check on their website Condominium Colonia Tropical) and residencia aguamarina has only sold one - out of 8. No idea about the rest.

Matilda

[mikey007]

more real estate being sold apartments rented out and u are saying there are less people in juan dolio they really have to build a world class casino or entertainment center in the area to attract more people