News

Dominican Republic to Open $4 Million Housing Project in San Pedro de Macoris

By: Caribbean Journal Staff - February 15, 2012 - 9:23 pm

Above: the new housing community (Photo: OP)

By the Caribbean Journal staff

The Dominican Republic is set to unveil a new $4.05 million low-income housing project in San Pedro de Macoris, the government announced today.

On Thursday, President Leonel Fernandez will open the development, which also includes a $1.86 million investment in the construction of two schools that will house 1,120 Dominican students.

The compounds, which were raised by the country’s National Housing Institute, were financed by the government in partnership with the Caracas-based CAF Development Bank of Latin America.

In the Caribbean, the Dominican Republic, Trinidad and Tobago and Jamaica are members of CAF.

The Dominican Republic has spent much of the week unveiling new projects, particularly in infrastructure. Yesterday, Fernandez inaugurated a new $100 million highway project, and announced another mountain road development set to launch in April.

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