Santo Domingo, Dominican Republic, February 2023.- The Spanish company CLERHP focused on development, engineering, and construction both in Spain and Latin America, presented its real estate project Larimar City & Resort at FITUR, which is set to become the first Smart City from the Caribbean.
It is located in Punta Cana, Dominican Republic, just 10 kilometers from the coast, and will start its construction in 2023. CLERPH expects to conclude its first phase in 2025, with the generation of a business volume of 300 million euros and more than 100 million EBITDA.
This year construction begins with two important residential projects such as Prime Towers and Horizon View, as well as the creation of a set of beaches and artificial pools that will form a boardwalk of more than 3 km in length, with views of the nearby beach of Punta Cana.
Its experiences include his golf course and country club, university, health services, shopping centers, offices, restaurants, hotels, entertainment venues, as well as the construction of a Beach Club, huge artificial pools, children’s play areas and sports courts, which provide residents and visitors with unique comfort.
The project has already attracted the attention of European and American investors, who have joined this initiative. It is considered an important economic and social center for this Caribbean region.
“With Larimar City & Resort, we have been ambitious because our deep knowledge and experience have allowed us to develop a solid and profitable plan for our shareholders and investors. We have created a disruptive project in the area to build from scratch a concept of a sustainable and intelligent city, which will bet on renewable energy, the reduction of energy expenditure, and the optimization of water resources, thanks to the use of new technologies such as AI, Big Data and IoT, among some of the chosen ones”, explained Juan Andrés Romero, CEO of CLERHP.
The new Larimar City & Resort urban center will be located on the Farallón de Verón, a 100 m high cliff on which the spectacular artificial beach will be built and will allow you to enjoy views of the Caribbean while promoting sustainable and efficient development in all areas.
It will have ten linked phases and will address the execution of residential buildings, hotels, schools, a health center, a university, and commercial and leisure areas to create an authentic self-sufficient, green city.
Once completed, it is expected to have an estimated population of between 35,000 and 55,000 residents, who will occupy the 20,000 homes and other complexes, such as hotels, located in Larimar City & Resort.
During the most recent edition of FITUR, the Larimar City project has had the support of authorities from both Spain and the Dominican Republic, who have visited the CLERHP stand. Some of the personalities have been the president of the Region of Murcia, Fernando López Miras, and the vice-consul of the Dominican Republic, Francisco Alberto Abreu.
“The launch of the Larimar City & Resort project has been very well received at FITUR, both in the institutional and business spheres, since it has aroused the interest of investors and buyers. An important business claim has been generated during this meeting”, points out Pablo Gris, director of Large Projects and Operations at CLERHP.
He pointed out that the Dominican Republic has opted for this ambitious initiative because “it is a market consolidated in the real estate field, the second largest country in the area, which enjoys political and socioeconomic stability, with the highest GDP growth in the region (7.5% year-on-year) and with contained inflation.
Furthermore, its proximity to Miami, New York, and good connections with Europe make it a priority destination for many investors.
CLERHP has extensive international experience, focused mainly on Latin America, with offices and delegations in Paraguay, Bolivia, and the Dominican Republic. They have developed and executed important projects such as the Radisson Hotel in Bolivia and the new offices of the Government of Paraguay.