Real estate tourism booms in Dominican Republic

Santo Domingo.- Real estate tourism is rapidly evolving in the Dominican Republic, driven by large-scale projects requiring substantial investments, according to the Dominican Association of Real Estate Tourism Companies (ADETI).

Currently, 65 to 70% of projects in the sector are dedicated to real estate tourism, with an additional 10% being mixed-use, including hotels.

Michael Lugo Risk, Executive Director of ADETI, reported that the association’s members alone are adding approximately 6,000 new rooms in 2024. ADETI comprises around 15 major tourist real estate companies.

Lugo highlighted that infrastructure investments in the sector exceed $10 billion, including both new developments and remodeling projects.

Eduardo Read, President of ADETI, emphasized the association’s commitment to sustainable tourism. He stated that ADETI is fully supporting the “green tourism” initiative, aiming to minimize emissions through the use of electric vehicles and solar energy production.

“It’s a cultural shift. Some projects are over 50 years old, making change challenging, especially for large areas spanning 30 to 40 million square meters. However, we are making gradual progress,” Read explained.

He also addressed misconceptions about real estate tourism, noting that many constructions are inaccurately labeled as such. “They call any apartment project real estate tourism, but these often lack a master plan,” he said.

Read stressed that ADETI ensures all its projects include treatment plants and adhere to ecological standards. “We do not permit construction without ecological criteria and sustainability. However, there are buildings with 8 to 20 apartments built without these considerations, purely for sale,” he concluded.