Can anyone on this site explain to me why there are so many new resorts being built in this county when despite government spin to the contrary, the occupancy rate in the existing resorts are so low?

The Donald and Rangel can't help with this financial problem? What is this world coming to!

Roy, I'm not an expert but, the global economy still sucks! It is getting better but not to the extent that people feel like they can just dispose of there disposable income like in the past....... But, if you have some dinero.... now is the time to us it..... Labor, materials, greasing palms, it's all cheaper now compared to the past..... Build it now.. and they will come... in the future... hopefully...

RoyStone.

There are 2 main reasons for investments in the DR. First and most important is Narco Money Laundering.

The Domincan government does not question where the money comes from as long as it gets its share of propina (kickback) so as to maintain a lifestyle of the rich and famous.

As for this Cap Cana failing it was doomed from the start, and if you probe long enough you will find dirty money in that system.

Domincans have been fascinated by money since it yields so much power and influence. Look at me I am important, I have a Mont Blanc, Mercedes, Louis Vuitton handbag and all kinds of prestigue named merchandise so I must be an important person in the DR.

foresthill,
Thanks for the info.
Yes I have observed Dominican's love of money and the status it can buy, and they will do anything to get money provided it does not involve working or saving.

RoyStone,
I had forgotten to mention that the "narcotics industry" competes with any legitimate construction company in the DR. It does not borrow in order to build as do legitimate busines and since the money becomes laundered through this type of investment and many palms have been greased to the politicos in the DR, that now all businesses in the DR have narco money invested knowingly or unkowningly.

Yes the proud Domicans on this website will shoot my comments down in order to silence me however these same idiots know what is going on in the real DR.

foresthill is the one eating and drinking everything in site at the all included resorts lol

Cap Cana is the biggest Ponzi scheme and laundromat in the Caribbean and has suckered successfully every fool who put money into that beautiful cesspool.

The DR has been a Narco State since the early 80's when Reagan embargoed motherships off the coast of Colombia. The DR has always been the flying stepping stone to the US and if you are stupid enough to invest there you deserve what you get. Hopefully you won't be found dead on the side of the road like my client who failed to take my advice and fell in love with the women sirens that lured him into a death trap. No one ever paid for his death except his relatives in grief.

I was asked three years ago to review the business model for a new additiion to Cap Cana and meet with its execxutives to discuss the entire plan. After reviewing the plan in detail, I told them the model would not work, it made no sense, and if they attracted any investors it could only be due to 1) their depection, or 2) the naivite of the investor. They told me I was fill of crap and did not undertand this country. I told them I understood finance. Finance 1, CapCana 0

corruptman, make that two of us. i laughed when the posters here said that the project would succeed, because Trump money was involved. i told them that Trump only lends his name to projects. he does not put up money. the investors pay him, to use his name. i said that this project would fail, and they all called me a hater. well, i hate to say ¨i told you so¨, but, in this case, i will.

corruptman, make that two of us. i laughed when the posters here said that the project would succeed, because Trump money was involved. i told them that Trump only lends his name to projects. he does not put up money. the investors pay him, to use his name. i said that this project would fail, and they all called me a hater. well, i hate to say ¨i told you so¨, but, in this case, i will.

Isn't there one resort that is open right now in that area?

I agree with your comments corruptman and dread. Given the current global economic/financial uncertainties, the foreign investment atmosphere of Resort Developments in the Caribbean are at the bottom of the totem pole.

With Greece in the toilet (and in the process of being flushed away) and the remaining European Community so unsure as to which way the winds may blow (next week, next month, etc) , I seriuosly doubt the CAP CANA project will survive, even in it's current downscaled size. Iran/Israel are so close to war today, nobody is looking at investing in luxury property as a long term investment.

The Drug issues in the DR along with a possible change in political power leaves everyone in a state of limbo. Dont hold your breath, Cap Cana will NOT be on anyone's radar screen 2 years from now. The DR is in for a very rough time economically in the next few months as investment interest dwindles and violent crime increases. It is ripe for a revolt, which may happen when Chavez

Cont...

dies, and Venezuela decides to no longer honor Petrocaribe's agreements to all countries... (my opinion only).

Juango, i agree with everything that you say. absolutely correct. if Leo breaks off with the IMF, as he is threatening to do, and Petrocaribe goes in the tank, all bets are off, as this economy is being run by smoke and mirrors.

Cap Cana is not really a resort but a very large housing development which includes shopping malls and several international hotels .It was developed in various stages and in the initial stages the economy was going very well world wide and the sales of land were going very well ,,in fact I was flown 3 times to Cap Cana with others to be shown the few remaining lots surrounding the Jack Nicklaus golf links .Prices were higher there than at Casa de Campo and many investors from Europe put money into the project ...most were speculators looking for a profitable resale ..A major problem arose with the huge costs associated with the artificial deep water harbour and surrounds and maybe if this had not been started the cash flow would have been better,
The stage on the western side that Trump was involved in also sold out within several weeks but shortly after the world economic collapse came .,It was most certainly NOT doomed from the start and I hope the problems will be resolved soon.

RoyStone asks why are there so many resorts being built ,,,I know only of a few in the Punta Cana Bavaro area and the Metro one outside san Pedro and they are all based around golf courses .La Estancia is now a viable proposition and again is a housing estate built around a golf course .. These large estates are not being built with hot or dirty money or laundered money as has been stated ,,A list of people who have homes or sites in CapCana is available and you can see the wide variety of investors .
There has been a high demand for these well secured estates not only in the DR but in other Caribbean and Central American countries and I think the demand will return ..it is a case of weathering the current economic storm
I have none of my money involved but I really hope that Cap Cana , the estate near the HardRock hotel in Bavaro , the Cizneros project and the metro project all succeed ,,I am not one to wish bad luck on anyone who tries to have a go .

Ricardolito:

Thanks for the wise input, most of the negative comments come from HAITIANS no Dominicans,
it is sad and depressing that these people try to bring so much negative energy despite what
They being through already plus that They have get some much help from the Dominican Republic,
your thoughts are pragmatic and well said.

I labeled this project from the very beginning Cap CACA, the idea was full of shit and the project has become shit.

http://www.dominicantoday.com/dr/....on-Cap-Cana-Development-announced

JRRubirosa,
Oh, so the financial disaster this resort is in, is a scurrilous lie invented by Haitians?
There is a good job waiting or you in Leo's press office!

JR RUBIOSA is a funny guy. A lot of Dominicans always suffer from the "Odderguy syndrome" and he is a perfect example.

josean, i do remember you as the guy who labelled the project Cap Caca, and said it was doomed to fail. and yes, Escott, another guy with the oddergy syndrome. if it were not for the Haitians, we would be Singapore, twice over.

Dready, y
ou want to compare the Dominican Republic with Singapore? Not fair!
The Dominican Republic has much more land and natural resources than Singapore, and about twice the population.

Hang on a minute, the GDP of the Dominican Republic is 87,508 million and
the GDP of Singapore is 292,829 million
So what gives?

roy, dread and other haters( that im assuming to be haitian because i can and want to).
let me tell you about karma... all your actions, result in a similar reaction of the same strength( type) and in opposite direction...
you guys seem so happy with the demise of this project and the ominous future you foresee for Dominican Republic, you guys should be ashamed of yourselves!!
WTF?!?!?!!?
just know that all your BS and the hatred you spread is coming back into your lives somehow. i mean, c`mo n!! dude, stop smiling with disaster man!!!
everytime there is a positive news about DR, they are the first to post crap, when there is bad news, the first ones to crap on it! Get a life!
es mas, te solte en banda y te corte el hilo!