Juan Dolio - South Beach of the Caribbean !!!

[frank recktenwald]

Originally Posted by Fernandez

Frank,
Many of us are confident of the future in the area... it appears, however, that if you question the current sales environment people take a personal offense- as if they are guilty of the drop in sales/values. Can you provide us / me with some comps on the sales of apartments when I visit the DR in a few weeks? I would be interesed in comps to apt 814 in the Las Olas project. I would be most interested in sales completed in the last 30 days.
Thanks.

Give me a call when you're in the area

[tomis1]

responded to message not inted for me

[STEVE G.]

Originally Posted by Fernandez

... maybe we can meet and have a beer in the New South Beach of the Caribbean...

I had to quote this post (not directed to me) to answer your PM my friend . Thanks for your PM and an invitation but your ''writing analysis'' came to a wrong conclusion , I have to disappoint you . I'm a straight guy (meaning not gay or bisexual , meaning prefer women). I'm sure you will find someone else during your next visit to DR to enjoy your stay... Sorry readers of this thread and Moderators to make this public . Keep going .

[Fernandez]

Ouch...
The South Beach of the Caribbean and the overall Tourism market in the DR is now facing another bomb- well out of its control The Cap Cana Eruobonds, the US$200MM issued a few years back to fund the operation/construction and development of the Resort complex are now bidding 35 on the dollar - this represents a decline of 65% form the issue price, and they have been rated "toxic" on repayment terms. The potential for default is now highly probable based on their intl ratings. Were talking Eurobonds now- not equity- wow.

You can only imagine the effect of a payment default; the holders of the debt would immediately dump the paper; the impact would have an immediate drag on the value of other DR debt, and any possibility of future funding would be closed.

One attractive idea: return debt/equity swaps, approved through the DR Central Bank. In such a scheme, there is a huge potential to rescue the project and make tons of money in the process.

Any takers?
Fernandez

[STEVE G.]

Francisco Javier Garcia
Oct 9 2008, 12:24 a.m.
Approved 24 tourism projects

Written by: Aleida PLASENCIA (a.plasencia @ hoy.com.do)
The Council for the Promotion of Tourism Investment recently approved 24 new tourism projects amounting to U.S. $ 3442 million.

The secretary of Tourism said yesterday that as ever at the moment had been planned in the country so many big projects in the tourist area.

Francisco Javier Garcia said he is receiving an extraordinary pressure from businessmen who have outstanding investment initiatives and want to begin immediate implementation.

He said that for this reason "we in the Secretariat of Tourism, we have created a mechanism for the acceleration of the knowledge of the pending projects."

He referred to the Council for the Promotion of Tourism Investment (Confotur), which met last week 24 new projects, which involve an investment of U.S. $ 3442 million.

The official estimated that these projects would generate more than 15 thousand jobs and 14 thousand new hotel rooms.

Optimistic. Recounted that on Tuesday visited Punta Cana, where he met with some investors who are interested in accelerating the processing of permits for projects in areas turíticas.

Garcia argued that those funds are those that are moved around before investing in the stock markets and the financial system of the United States, which now have to be invested somewhere.

He explained that information from investors who have had their money in banks in the United States and that lately are investing in villas in the country, where according to the perception of the officer, feel that the investment is guaranteed.

In the opinion is crucial as the holder of Tourism, this activity is critical for macroeconomic stability in the country.

He said that this is the sector that will ensure its stability to the country, for the investments come from abroad.

"This is the only sector that has shown that it is not susceptible to international crises, and we can not give back to the level of investment in infrastructure," he said, when he was interviewed in the program Telematutino 11 per TeleSystems.

Infrastructure. Considered essential to develop the country into a massive investment in infrastructure in the tourist resorts.

In that regard he announced the creation, jointly with the Ministry of Public Works, a special unit maintenance of access roads to tourist resorts.

Announced that it is time to put Las Terrenas in Samana, as "a cup of glass." He spoke of infrastructure, cleanliness and order vial. "We can not allow a single hole in the road where passing tourists." He believes that with two or three vehicles for maintenance at each pole can solve that problem.

The keys

1. It has not been affected

Tourism in the Dominican Republic was not affected by the global economic crisis, according to the secretary of Tourism.

2. Is infallible

Francisco Javier Garcia is of the view that tourism is foolproof to global crises, including food, the oil and finance. This feature, he explained, not only applies to the Dominican Republic, but tourism in general in the world....Aprueban24 proyectos turísticos - Hoy Digital

[vandee]

Yeah, OK.
"He explained that information from investors who have had their money in banks in the United States and that lately are investing in villas in the country, where according to the perception of the officer, feel that the investment is guaranteed."

Pretty funny line. What would you expect him to say? So the world economy is in dire straits but we're doing well here in the DR. Sorry Steve, but that's total BS.

If things hold true to historical data, all markets should come back within 2 years. Funny how this fellow says things are great while the Pres just issued a statement contrary to this report. I'm sure people with money in investments want the projects done but it's not going to happen that fast and tourism will be down this season.

Those are just the economic facts.

[STEVE G.]

US crisis smaller than DR crisis of 2003
Economist Hector Salcedo has told Hoy that the US financial crisis is smaller in proportion than the crisis that affected the Dominican banking sector in 2003. He said that the salvage operation for fraud at Mercantil, Bancredito and Baninter banks represented 18% of the country's Gross Domestic Product. He said that in the US, the financial bale-out only represents 5% of the GDP. Furthermore, he said the US has more mechanisms for tackling the crisis............................................ . 14,000 more hotel rooms
Tourism Minister Francisco Javier Garcia announced that last week the Council for the Promotion of Tourism Investments (Confotur) approved 24 new hotel and residential tourism developments nationwide. He said this was a RD$3.4 billion investment to build capacity for 14,000 new hotel rooms. He said there has been an injection of fresh funds that were previously invested in the US financial system and are now coming here to purchase properties in real estate developments. He is in favor of the government investing in major infrastructure works in the tourism development areas. "We cannot allow there to be a single hole in any road or highway used by tourists," he said, as reported in Hoy.

[vandee]

Steve,

Read that but it was written just before we had another 700 point drop in the market. This thing is just starting so unless this guy is a mentalist, he has no clue how bad this is going to get. Nor does anyone else right now Steve.
We can't even get economists here to agree on what's happening. If this continues there won't be any money left to invest in anything except maybe soup cans.

[johne]

Originally Posted by vandee

Steve,

Read that but it was written just before we had another 700 point drop in the market. This thing is just starting so unless this guy is a mentalist, he has no clue how bad this is going to get. Nor does anyone else right now Steve.
We can't even get economists here to agree on what's happening. If this continues there won't be any money left to invest in anything except maybe soup cans.

Make that "soup CUPS". Whole cans cost money when filled.

[STEVE G.]

Saturday October 11, 2008

TOURISM
Secretariat announced plans for the next 4 years


''SANTO DOMINGO .- The Ministry of Tourism will concentrate its efforts in the next four years in attracting foreign investment, attracting a greater number of tourists to visit the country and invest in the development of tourist resorts.

The information provided yesterday by the Secretary of Tourism, Francisco Javier Garcia, who announced the creation of a "Strategic Tourism Development Center" to look to competitors (like Mexico), improving infrastructure in tourist areas and develop strategies that enable entering the country and is known in other markets (such as the Russian who has higher purchasing power).

Among the actions cited were the repair of roads within the community of Las Terrenas in Samana, Bavaro and the east in general, and a plan for signage in several languages in tourist areas.

This will also form a unit for road maintenance in order to follow up this work. The data were announced at a luncheon given by the official media editors and economic news.

Follow-up
In connection with the financial crisis affecting the United States and Europe, Javier Garcia said that the country's tourism industry to infallible these difficulties, as it said that the deterioration of the U.S. real estate sector benefited RD with increased foreign investment in tourism projects and also because the pace of growth in the sector. He said that so far this year has grown by 5%, while in 2007 was 4%.

"Despite these crises, growth that leads to tourism this year is higher than the other years," the secretary and said that last year went sightseeing 903 million people worldwide, 52 million more than in 2006 and the World Tourism Organization estimates that by 2020 there will be 1600 million people sightseeing.

Other projects were announced the installation of a tourism promotion office in Russia, sanitation and relocation of people living adjacent to the river from the beach Cosón, a guide Official tourist attractions, raising the rate of return of the tourist, a plan for the educational sector and construction of amphitheaters...'' El Dinero - Secretaría anuncia planes para los próximos 4 años