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$2 billion resort and residential project planned for Samana Peninsula

This newly announced project means more good news for the Samana Peninsula.  Though the project won’t be completed for 20 years, the scope of this project indicates to me that  Samana has a very bright future.  The Samana Peninsula, where Las Terrenas, Samana and Las Galeras are located, has been getting attention from travelers, retirees and investors for many years.  Real Estate appreciation in the area has been as high as 35% per year, averaging about 20% over the last five or six years.  

Cisneros announces his Investments – article supplied by dr1.com

Venezuelan businessman Gustavo Cisneros has announced plans to build Tropicalia, a resort and residential project in the Samana Bay-Miches area in the east of the DR, with an estimated value of US$485 million. Construction is due to begin in March 2010 and will be completed by 2030, with a further US$1.5 billion investment over that period for a total investment approaching US$2 billion. 


Cisneros spoke of a vision for building a socially responsible tourism venture. He made his announcement during an American Chamber of Commerce luncheon, which was also attended by President Leonel Fernandez.

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