Dominican Republic Investment Opportunity Expected to Break Ground in 2009

By Erika Schnitzer, Associate EditorJuan Dolio, DOMINICAN REPUBLIC—Grupo G&S recently celebrated the project launch of Las Arenas, a 23-story, 206-unit development scheduled to break ground in the first quarter of 2009, with construction expected to take 24 to 30 months.The contemporary elliptical-shaped tower creates a new standard in the Dominican Republic, developer Ayendy Marte of Group G&S tells MHN. “This is the first project of its kind in Juan Dolio,” he says.With its proximity to Santo Domingo and the Americas International Airport, Las Arenas is expected to become an international destination for investors, Marte explains.Designed by Dominican architect Jorge Mesa with landscaping by Artur Bossy, Las Arenas offers one-bedroom lofts and two, three- and four-bedroom condominiums, in addition to penthouses. Owners will have a choice of finishes, and 80 percent of the condominiums will have a view of the ocean.Residences range in size from approximately 88 to over 300 sq. meters (approximately 975 to 3,350 sq. ft.), and pricing will range from $210,000 to $2 million.They offer eco-friendly technology, soundproof walls and controlled access. Green features will include solar panels to provide energy to all common areas, a treatment plant for water used for gardening and cleaning, and energy-efficient glass, which will filter 80 percent of the heat, on all windows and doors. In addition, two levels of parking will provide space for 350 automobiles.The development includes an infinity-edge pool and 15-seat Jacuzzi, a beach club, fitness center, business center and meeting rooms, in addition to retail space that will include shops and restaurants.