By the Caribbean Journal staff
The Caribbean’s hottest hotel investment market has another high-level project.
The luxe Hacienda Samana Bay project has officially broken ground on the lush, pristine Samana peninsula of the Dominican Republic, a corner of the country that is a burgeoning tourism hub.
The first phase of developer Indebay SRL’s project will feature a $100 million investment, beginning with an oceanfront residential resort that includes 60 hotel suites and 40 condominium units.
The purely residential units will range from 47-square-meter studios to 123-square-meter two-bedroom condominiums, while the hotel units will include junior and master suites, all with marble and ceramic floors, ocean-view balconies and amenities like direct-access elevators.
The wider project, which is set on 200,000 square meters of seafront in Samana, will include more than 400 luxury homes developed in multiple phases.
It’s part of a push to grow Samana and focus the area as a hub for “residential tourism,” according to Indebay CEO Luis Pareja.
It’s also the latest in an increasing trend in the Caribbean: residential resorts, which combine a hotel component with a real estate offering, one that typically includes all of the amenities of the resort.
Dominican Republic President Danilo Medina and Tourism Minister Francisco Javier Garcia were on hand for the groundbreaking ceremony.
Garcia said the project’s developers were “madly in love with Samana.”
The Minister said the government would also be ramping up its promotion efforts for Samana.
For more, visit Hacienda Samana Bay.