The Dominican Republic will soon be attracting more luxury travelers, as the Cap Cana development in Punta Cana progresses. The visitor profile now is couples, including honeymooners, and families. But Dominican Republic tourism industry observers predict that luxury travelers will soon become the majority of visitors.
Mike Lapointe, vice president of product development for
Apple Vacations, which books about 40 flights to Punta Cana every winter, says
the latest development of real estate luxury products and hotels will mean
bigger spenders to the
"If you get people looking to spend around $250 to play
a round of golf, we're not exactly talking about your average family
anymore," Lapointe says. "Cap
And when there's money to be made in real estate, there's usually a familiar name involved: Trump.
Donald J. Trump recently signed a partnership agreement with Cap Cana, S.A. to develop a luxury resort that will include a golf course, golf villas and golf lots, estate lots, a beach club, a condo hotel, and residences with ocean views that together will be called Trump at Cap Cana.
The real estate luxury products to be developed represent an estimated value of more than $2 billion. The agreement was signed on February 16, 2007, by Cap Cana's Board of Directors President, Dr. Ricardo Hazoury and Trump, CEO and president of The Trump Organization.
The first product to be developed within the partnership,
"Trump Farallon Estates at Cap Cana," will include 68 estates (with
at least 1.5 acres each). The estates will be within a gated community on top
of the highest bluff in the area, at 200 feet above sea level, where residents
will have views of the entire Cap Cana property and the
Homeowners in the Farallon community will get special memberships to a variety of clubs, and amenities within Cap Cana. Reservations for Trump Farallon Estates at Cap Cana are limited and are currently being accepted on a first come, first serve basis.
"I am excited to be building Trump at Cap Cana for several reasons. Not only is the Dominican Republic an exceptionally beautiful place with a wonderful history, but the allure of Cap Cana makes this a unique destination in the Caribbean," said Trump in a news release. "I look forward to visiting often with my family."
Cap Cana, described as one of the most important real estate
and tourism destinations in the Caribbean, is adjacent to the
With a master plan investment projected at $1.5 billion, the first stage of Cap Cana will be on 8,680 acres (of a total of more than 30,000 acres) and will take place over a span of 10 to 12 years.
At the completion of the master plan, Cap Cana will have more than 5,000 residential units and at least four luxury hotels. Also included are three Jack Nicklaus Signature Golf Courses (the first, Punta Espada, opened in November 2006) and a marina with more than 1,000 slips for yachts up to 150 feet. The first phase of the marina will be inaugurated in spring 2007.
Additional services and amenities include boutiques, fine
dining restaurants, world class spas, exclusive membership clubs, water sports,
polo, and horseback riding facilities.