Real Estate Project In Barahona Will Have An Investment Of RD$1.7Bn

• The building of real estate complexes is becoming more important for the Dominican Republic’s tourism sector as it draws investments that strengthen its value chain and draws in new customers who prefer short-term rental accommodations over hotels.
• The Barahona project, which has a RD$1.7Bn budget and will create 400 direct and 3,000 indirect jobs, is being developed under this modality. The project will be completed by the end of 2023 and will cost US$1,500 per square meter to construct. José Luis Ravelo, who is in charge of the real estate project’s communication, made this announcement at the fair titled “Discover Barahona 2022: Toward a Sustainable Destination.
• Real estate tourism became more prevalent in the Dominican Republic’s tourism industry following the coronavirus pandemic. According to statistics from the Central Bank, short-rent projects have a visitor occupancy rate of over 44%. This project will continue to drive the demand for short-term rental accommodations.

(Source: Dominican Today)