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Santo Domingo.– Group Metro has secured US$55 million in financing for two projects in Juan Dolio, near the Las Americas International Airport.. The real estate and transportation-focused company had already received a US$20 million loan for the Costa Blanca and US$35 million for the Las Olas project, GlobeSt.com reported today.

“The fact that our company have been able to secure these two generous loans to complete both Costa Blanca and Las Olas is very positive news for real estate, especially in the Dominican Republic. It allows other potential investors and buyers to feel more confident again,” Luis Jose Asilis, CEO of Group Metro, tells GlobeSt.com.

Group Metro recently received a US$20 million construction loan from the local Banco de Reservas for Costa Blanca, an exclusive residential golf and beach community located in the Juan Dolio region. With construction well underway, the loan will be allocated to complete the Founder Residences and surrounding areas of Costa Blanca.

The project combines a 18-hole golf course, retail, a full-scale mega-yacht marina, and luxurious residential homes. Thus far, 45 of the 52 villas have already been sold.

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COMMENTS
7 comment(s)
Written by: Ricardolito, 28 Dec 2009 11:17 AM
From: Dominican Republic, vieja Santo Domingo
This will really aggravate Josean ..still more private development ,more work and more money into the economy ..still I suppose he will blame Leonel for something here
Written by: Platanos_pelaos This user is banned, 28 Dec 2009 11:53 AM
From: Dominican Republic
They should build more schools, not hotels, freakin' Leonel and his construction crap!!!

Josean, you can send me the check later.

LOL
Written by: Escott, 28 Dec 2009 12:16 PM
From: Dominican Republic, Cabrera and Sosua a 2 days a month for payday
Ricardolito things DENIAL is a river in Egypt and his President isn't a crook so he pees on Josean:)

Now who actually has their preverbial head buried in the sand? Let me give you a tip as I know this one is difficult. Starts with an "R".

Argue points made by Josean instead of the childish putdowns, may be more impressive but I doubt you have any sensible arguements...

The intelligence in these threads leave a lot to be desired.
Written by: synapse, 28 Dec 2009 12:54 PM
From: United States
This is Grupo Metro driving off a cliff full of debt that it won't be able to pay back. Developers who start overly ambitious projects such as Costa Blanc rarely are the ones who finish them. Mostly it is the the bottom feeder that buys the debt for pennies at bankruptcy sale that completes the project and makes the money. Just look at the history of at Atlantis in the Bahamas, there is a perfect classic example. If it weren't for dirty money none of these projects could have gotten this far.
Written by: josean, 2 Jan 2010 10:39 AM
From: United States, http://www.realpolitica.com/
Thank you gentlemen, for rebutting Martha Stewart's propaganda, prepared by the PLD's talking points staff.

Almost Mangu,

It will be a money order so you can cash it immediately for cold Presidents on Three Kings Day!
Written by: Ricardolito, 3 Jan 2010 4:27 PM
From: Dominican Republic, vieja Santo Domingo
With the taxes to be paid during this construction and all the wages to be paid there probably will be more money for the government to build schools ..this is very welcome private,not public investment into the economy of the DR ,the same as the development in Samana ,that you like to critisize ..and as far as METRO go,they have already made a huge contribution to this country from start to finish ..There are many people here in the DR who are doing their best with big projects ...far better than sitting around doing nothing.
Written by: josean, 3 Jan 2010 9:26 PM
From: United States, http://www.realpolitica.com/
Talk about PLD talking points I think Martha writes them. She is starting to sound just like LIE-onel Fernandez, A lot of foam but no chocolate!
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