Bavaro & Punta Cana December 11, 2023 | 8:06 am

Cap Cana sets its sights on real estate tourism

Punta Cana.- Cap Cana, situated in La Altagracia province, Punta Cana, is a private, exclusive urban development flourishing due to the boom in its hospitality and real estate sectors. This growth is fueled by tourism and local support, with an overarching ambition to transform Cap Cana into a leading Caribbean metropolis.

The city’s development is driven by real estate tourism, a sector experiencing significant growth, according to Fernando Hazoury, President of Cap Cana’s Board of Directors. In a discussion with Listín Diario’s director, Miguel Franjul, Hazoury emphasized the importance of balancing the focus on both real estate and hotel tourism, considering the latter’s already established significance.

Cap Cana, as a destination, aims to offer a peaceful, secure, and well-organized environment, complete with all amenities expected in a developed country. Currently, the city boasts 4,719 real estate units, 2,876 hotel rooms, and an additional 5,436 units under construction. Hazoury also highlighted the need for a comprehensive plan to mitigate environmental challenges impacting buildings more than anticipated.

Acknowledging human errors and environmental impacts, Hazoury envisions a future for Cap Cana with advanced infrastructure like tunnels, organized city planning, and a strong commitment to environmental and ecological standards. Real estate tourism investment poses economic challenges due to delayed returns, but Hazoury sees it as a necessary step for growth.

Founded entirely by Dominicans, Cap Cana is distinguished by its white sandy beaches, palm trees, and turquoise waters. The city is self-sufficient, managing its water resources responsibly. Hazoury draws parallels between the Dominican Republic’s potential growth and Spain’s economic transformation through tourism and environmental stewardship.

He foresees a significant increase in tourism in the Dominican Republic, mirroring Spain’s trajectory. The focus on diversifying tourism, particularly through real estate, is viewed as a catalyst for national economic prosperity. Cap Cana itself represents a substantial investment, with US$1.5 billion in infrastructure and a vast land area, providing significant employment opportunities.

The operational team of Cap Cana, predominantly composed of young professionals, is praised by Hazoury for their effective management, reflecting his confidence in the city’s future and the country’s tourism potential.

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