Dominican trusts manage over US$3.02B

Santo Domingo.– In the Dominican Republic there are more than RD$160 billion (US$3.02 billion) in assets managed through the trusts, according to Christian Molina, executive president of the Association of Dominican Trust Companies (Asofidom).

These resources are distributed in more than 900 trusts nationwide.

“The main development of the trust has been focused on real estate trust (Fideicomiso), specifically on the development of housing. In this regard, there are 40,000 homes given to different families, of which nine out of 10 are low-income families and are low-cost homes.”

He said they are currently in the process of amending Law 189-11, “where important and necessary changes are foreseen regarding the figure of the trust.”