Increased financing for tourism projects with investment funds in Dominican Republic

Currently, financing to the tourism sector through investment funds amounts to more than US$700 million and the figure will increase to US$1.2 billion in the next 24 months when the projects currently under execution are completed.

This was stated by Javier Tejada, manager and general director of United Capital Puesto de Bolsa, who pointed out that investors see the Dominican stock market as a powerful tool to finance their projects.

Among the projects used by investment funds for construction are several hotels in the city of Santo Domingo, such as the JW Marriott, Embassy Suite; in La Romana, the Dreams Dominicus hotel; in Cap Cana, the Dorado Park, the largest water park in the Caribbean. Also in Miches is Club Med, which is owned by investment funds; El Portillo in Samaná; in Puerto Plata is Punta Bergantín, which is anchored to a public-private partnership, where pension funds have an important participation.

While in Pedernales, the integral development of part of the airport, port, electrical, sanitary, road and hotel infrastructure is anchored to investment funds.

He expressed that the investment funds are not a competition to the traditional credit, but allies and complements and whose specialty is to manage the capital and that the same is invested in a responsible, sustainable way and that creates benefits for the investor and development for the whole country.

“Investors will be increasingly working with new hotels, but also with the complementary offer of tourism and in the development of new destinations that require 20 and 30 years to reach maturity,” said Tejeda while participating yesterday in a panel as part of the 62nd anniversary of the Association of Hotels and Tourism (Asonahores).