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PUERTO PLATA, Dominican Republic. - The representative of the Elliott Hotel Group which operates in Dominican Republic through the company Sun Village Resorts, admitted having the partnership’s difficulties to finish construction of a hotel and real estate project in Juan Dolio (south), consisting of three buildings with beachfront, and clarified that his companies are in a consolidation process to meet their the commitments with buyers of vacation packages from the United States.

Derek Elliott, speaking with media executives in his hotel located in Cofresí, said construction of the Juan Dolio project is as much as 75 percent completed, and plans to sell a 4,700 meter lot adjacent to the site, which is also the zone’s only empty lot with beachfront.

Elliott said the group also owns a property in Miches (northeast), acquired for a tourism development, which is in the process of selling to focus its investments in Port Plata and Juan Dolio.

He said the Group had problems since it decided to outsource the area of sales. “The experience wasn’t good and we’re convinced that we must have our own sales team. In this property in Cofresí we have finished here and we made important investments and we concluded our obligations.”

SOURCE clavedigital.com

Related article: www.dominicantoday.com/dr/local/2009/3/24/31490/Suit-filed-in-US100M-Dominican-resorts-scam

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COMMENTS
10 comment(s)
Written by: BASTA, 28 May 2009 9:16 AM
From: Dominican Republic, =Ghetto/Legalize Drugs
Juan Dolio= Dead
Well what do you expect every thing closes at 12 except the hotels and who wants to go to a hotel except SD gringos> no load music no girls no lights no water except Lix-olelly and his guest while his wife is in la Romana. Please no Photos!
Written by: JimHarrington This user is banned, 28 May 2009 9:21 AM
From: United States
What a crok of bull.
Written by: Juango, 28 May 2009 9:29 AM
From: United States, far S. Florida (formerly Santo Domingo)
The scam/con continues.... there are suckers born every day,. Therefore, these types continue to charm and dazzel their victims. My money is on these project in Cofresi and JD, never developing into what they were sold as. They are doomed. Too many unhappy investors. In the DR, buyer/investors should say " Build it first, let me see if I like it, then I will invest.". Unfortunately most buy on beautifully prepared artist renditions, I must admit they all look good, on paper!
Written by: Juango, 28 May 2009 9:39 AM
From: United States, far S. Florida (formerly Santo Domingo)
Just a follow up on D. Elliot, in action. Do you really trust this fellow with your money? click and watch him in action..

http://www.eclientscom.com/deposition_video.shtml
Written by: WalterPolo, 28 May 2009 9:52 AM
From: Dominican Republic, Puerto Plata
There's a sucker born every minute, so their problems are temporary.
Written by: Ricardolito, 28 May 2009 10:57 AM
From: Dominican Republic, vieja Santo Domingo
i drove slowly through Juan Dolio last Friday on the way to the SD airport along the beach road and also along the main road past Metro Golf Club..I could not believe the large number of multi story buildings that were part completed but the building sites were all deserted and appeared to have been for months. As well as that there were 3 large hotels that were closed down and the place was dead .
Juan Dolio took off for a while after all the problems with the police and with the drug trade in Boca Chica but I agree with BASTA that there is absolutely nothing to do at night .
So if this Mr Elliot says his building is 75 % conpleted I would suggest it was 75 % completed 6 months ago and will be 75 % completed in 6 months time and the prospects for selling his vacant land are close to zero
Written by: josean, 28 May 2009 11:24 AM
From: United States
The PLD's economic miracle is the Dominican people's economic nightmare!
Written by: josean, 28 May 2009 5:27 PM
From: United States
It is not looking so rosy eh Lie-onel!

Source DR1

Central Bank Quarterly Report

The Central Bank has just released its first quarter report for the year. According to the report, the country's GDP grew 1% from January to March 2009. Sectors showing growth were communications (21.4%), farming (9.9%), financial services (8.5%), energy and water services (6.3%), education (5.3%), health (3.5%), housing rentals (3.1%) and public administration and defense (1.6%).
Sectors showing a decline were mining (-74.9%), construction (-21.9%), free zone manufacturing (-13%), commerce (-6.8%), hotels, bars & restaurants (-7.5%) and local manufacturing (-3.3%).

The report is available on the Central Bank's website at

www.bancentral.gov.do/publicaciones_economicas/infeco_preliminar/infeco_preliminar2009-03.pdf



Written by: Ricardolito, 28 May 2009 7:08 PM
From: Dominican Republic, vieja Santo Domingo
Thanks Josean ,,,this is exactly in line with the IMF forecasts and 2% lower than the governments forecasts
Written by: Bailarin This user is banned, 29 May 2009 8:48 AM
From: Dominican Republic
Translation : '' Im bankrupt ''
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