Offering the best tourism real estate investment in the Caribbean – News
Coral Bay by Noval Properties, situated on a golf lover’s dream course
With the best locations, high-quality materials, complete property management and attractive prices, they have developed into the top house for real estate investments in the region.
More than just a construction company, Noval Properties is a premier development institution. “Noval Properties has a 360 degree vision. We only build in the best locations, always with access to the beach or golf courses, and we offer innovations in the real estate model with full property management and furnishing services, making our offer “hassle-free” and offering great value to customers.” , assures Mr. Cesar Latrilla Rodero, CEO from Noval Properties.
Their projects guarantee a 10% annual ROI and combine five-star amenities and home comforts. They are very affordable as Punta Cana has the lowest residential real estate price in the Caribbean and their high quality building materials and finishes add another value. In addition, investors looking to rent or resell benefit from Punta Cana’s advantages as an investment location, such as a 15-20% annual appreciation in value, an average hotel occupancy rate of 87.7%, a low tax regime and the fact that more than three million Passengers, about 65% of all foreign tourists, arrive through Punta Cana International Airport each year.
Noval Properties began in 2003 with a clear vision to promote tourism real estate in Punta Cana. By 2017, with the investment boom, revenue grew from $11 million to $150 million, and now they are undergoing digital transformation. “Today, Noval operates like a small multinational with an international marketing and sales team of 40 people and more than 200 real estate companies with almost 1,000 agents,” assures Mr. Latrilla.
In addition, the pandemic brought about a profitable turnaround in the country’s tourism real estate sector. Due to low interest rates in the financial markets, investors began buying tourism properties in Punta Cana to enjoy later, leading to a 4% increase in the country’s GDP in 2021 and projected corporate sales of $250 million in 2022 led. “2021 was the best year in Noval’s history,” concludes Mr. Latrilla.
Their latest venture, Morgan Capital by Noval, is focused on the local market and will develop public housing, student accommodation, city hotels and retirement homes with a profitability of 12% to 20%. In the coming years, Noval Properties has some of the most ambitious construction projects in the Dominican Republic with a portfolio of USD 650 million in the next 18 months alone. “The vision is to continue to grow and capitalize on the dynamism of the economy and the country’s reputation and continue to innovate,” assures Mr. Latrilla.
Working to the highest standards and innovation, they have built some of the country’s most important road and horizontal structures
Alba Sánchez has been one of the most important companies in the Dominican Republic’s construction industry for almost four decades. They began producing controlled quality aggregates, building materials and hot asphalt concrete to supply their own projects. Later they started supplying other customers and started their rock division. The increasing needs of the market prompted them to open two new divisions, Asphalt and Transport, so their services now cover the main needs of the horizontal construction market.
Alba Sánchez designed some of the most important horizontal structures in the Dominican Republic. From public highways such as the Duarte Highway and the Santo Domingo Bypass to private sector projects such as the Port Caucedo Sidewalk Reconstruction currently owned by Dubai Ports; the main runways of several airports, including Punta Cana Airport; and Urbanización Lagos, both owned by Grupo Puntacana. You have also worked internationally in the construction of the Pont Sondé Mirebalais, one of Haiti’s most important new roads.
Additionally, they have diversified and created Nodo, a world-class all-in-one logistics solutions provider, and they look forward to new opportunities with the UAE, a relationship that has had a solid start with companies like DP World. Currently, Alba Sánchez is proud of the projects they are developing and their role in supporting the country’s economic development. Finally, according to Mr. Guillermo Alba, CEO of Alba Sánchez, “You don’t have to be a politician to contribute to your country. You can also do this privately through your businesses and create projects that will grow and bring more visibility to the Dominican Republic.”
Modernization of the construction sector of the Dominican Republic, building by building
Edif. Corporate Human / Corporate Campus
For more than 30 years, Hageco has been developing innovative projects with the highest standards in the residential, commercial and industrial sectors.
“We build things as if they were for ourselves,” says Mr. Michel El-Hage, CEO of Hageco Engineers and Architects. From design to construction to advertising, Hageco adapts to the specific needs of each project using the latest technologies and the highest quality standards. As industry leaders, they have built some of the most modern and versatile buildings in the Dominican Republic over the years, winning multiple awards, such as the Premio Obras Cemex, for their innovation, relevance and outstanding construction standards.
One of the reasons for their success is their emphasis on customer satisfaction and building trust to maintain a solid reputation. Another reason is their diversification. Their diverse portfolio includes housing departments, shopping malls, corporate buildings, business parks, industrial halls and churches, and they are currently entering the hotel sector. A clear business vision was also crucial. With their “vertical integration” system, they develop projects with their own equipment and resources from partner metal factory Steeltec, keeping outsourcing to a minimum and improving execution times and technical developments.
Over the next few years, Hageco wants to continue to grow at the planning and industrial level, drive digitization in all phases of the construction process and continue to invest in its human capital. As Mr. El-Hage explains, “Construction is a multiplier industry. It influences all activities that revolve around it, from the beginning to the end of the project. They all benefit and in turn create jobs.”
Luxurious and customer-oriented construction services with the highest quality on the market
Constructora Aybar specializes in large tourist, commercial and industrial projects built with the highest standards and services.
“We pride ourselves on having a long-term relationship with our customers, built through excellent customer service,” says Mr. Rafael Aybar Medrano, President of Constructora Aybar. It all started in 1987 by offering private tourist residences to high profile clients who liked their services so much that they started recommending them and over time this word of mouth opened up new business horizons.
Today, Constructora Aybar has expanded entirely to commercial and industrial buildings, while developing projects for the tourism sector with hotels such as Colonial Zone, Casas del XVI, Hyatt, Club Med and Iberostar and tourist residences. They are also developing innovative mixed-use projects such as Distrito Piantini and more recently Murales, a 41,500m2 project that aims to rejuvenate the pier with murals, corporate towers and more than 700 apartments. To date, Constructora Aybar has completed more than 30 of the country’s most important construction projects at an approximate cost of US$30 million.
For years to come, they aim to continue delivering the highest quality projects and best customer service on the market. As Mr. Aybar says: “What makes me proud is the satisfaction of our customers with the projects we deliver. Also, it’s very fulfilling to build relationships with them because they’re friends at the end of the project.”
Innovative and refined real estate solutions for the most demanding clients
With original concepts, quality materials and exquisite finishes, Contemega is recognized as one of the top construction, investment and project development companies in the country.
“Everyone is waiting to see what we do next,” says Mr. Roberto Lamarche, Operations Manager at Contemega. Contemega has recognized the changing needs of the real estate market over the past 20 years and implemented them in innovative and successful projects. They have developed more than thirty projects, around 600 apartments, with investments of 250 million US dollars. Their innovations range from design elements to the development of new concepts.
For example, Contemega began developing mixed-use buildings that combine apartments, hotels, restaurants and offices. They are also developing advanced residential units like their Attico project, using the latest technology like digital sensors, green energy solutions like solar panels, and a two-story design where each apartment is a penthouse. In addition, they build apartments that can be used as hotels and provide their customers with all the necessary administrative services, including booking, housekeeping and room service, to maximize investor profitability.
In the future, Contemega plans to bring its residential projects to the main tourist spots in the country, such as Punta Cana, Puerto Plata and Las Terrenas, so that they can reach a more foreign market. For now they are happy with what they have built. As Mr. Lamarche confidently states, “Contemega has a strong reputation, we succeed in every project we start and we stay with our customers to support them even after the project is complete. When clients are confident investing with us, they don’t need anything else.”