The real estate division of Advandtel Dominicana S.A. seeks to take advantage of the unprecedented economic growth presently being realized in the Dominican Republic. The government, headed by President, Dr. Leonel Fernandez of the PLD, has brought much prosperity to the country since his election.
The country is the number one tourism destination in the Caribbean where Internationally renowned hotel chains currently have close to 60,000 rooms available. The D/R has more than 300 miles (500 kms) of beaches and blue waters, an impressive cultural heritage, astounding historical buildings, and spectacular pristine landscapes. The D/R represents some of the best opportunities in the Caribbean to travel, live or do business - all complemented by the unique hospitality of the Dominican people.
The government has backed foreign investment in the country which has resulted in a major increase in tourism activity, mining investment and telecommunications. The tourism initiative has resulted in increased pressure on land values which continues with many major institutions now looking to the D/R for investment.
Although the East Coast continues to draw the majority of investment in areas such as Punta Cana, the North Coast real estate market is witness to the largest land value increases due to a lower cost per meter of land. The government's initiative to develop tourism on the East Coast, Puerto Plata to Samana, has resulted in major investments by North Americans and Europeans in those respective areas.
In this favourable economic and political environment, the Company is seeking out real estate investments in new construction and existing structures for restoration, with an emphasis on hotel and land bank opportunities. And through its affiliation with Business Vacations International Holdings (www.businessvacations.com); the company is poised to expand exponentially in the realty hospitality market.
At present, the Company currently provides hotel management services to the Casa Cayena Club (www.hotelcasacayena.com), a four-star resort located in Sosua, "the playground of the Dominican Republic". Advandtel Dominica is active in the marketing of this property to tourists in Europe, North America and elsewhere and is actively seeking new management opportunities.