Economy August 22, 2022 | 1:45 pm

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Real estate tourism grows, say ADETI executives

Roberto Despradel, Jorge Subero Medina and Michael Lugo during their participation in the Hoy Economic Meeting. arlenis castle

ADETI executives highlighted that the investments in 15 projects exceed US$10 billion, more than 27,300 rooms with 4,300 under construction.
Investments in tourism real estate in the country by the 15 members of the Dominican Association of Tourism Real Estate Companies (ADETI) exceed US$10 billion.

The data was offered by Jorge Subero Medina, president; Michael Lugo, executive director of ADETI; and Roberto Despradel, advisor and author of the last statistical study of this entity, while participating as guests in the Economic Encounter of HOY.

During the interview, the ADETI executives highlighted the great growth these investments have had after the pandemic, representing more than 27,300 rooms and 4,300 in the construction process.

They pointed out that if they are counted with the hotel rooms, which are about 85,000, real estate tourism represents 32% of the total of the entire sector.

In addition, this growth has been accompanied by a diversification of the real estate tourism offered in the national territory because there are important projects in the provinces of La Altagracia, Samaná, Puerto Plata, Baní, and later Pedernales.

They also highlighted that real estate tourism complements traditional hotel tourism since, according to a survey, it has 64% of yacht moorings (marinas), 64% of golf courses, and tennis courts, among other offers.

Law 171-07: Call for the elimination of bureaucracy
The Dominican Association of Tourism Real Estate Companies (ADETI) stated that if the bureaucratic obstacles to receiving the benefits granted by Law 171-07 on Special Incentives to Foreign Pensioners and Annuitants were eliminated, there would be great growth in investments in real estate tourism, impacting the generation of jobs and the entry of foreign currency into the country.

They were confident that this could be achieved with the Zero Bureaucracy project.

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