Projects in the Dominican Republic
Mariposa del Caribe – Terrazas de Juan Dolio
During 2008 and 2009 Petroholding Dominicana began the development of the project “Mariposa del Caribe” , an elite and streamlined residential complex in the resort town of Juan Dolio located in the picturesque banks of the Caribbean sea, close to the international airport and the vivid capital of the Dominican Republic Santo Domingo. Because of its unique position and infrastructure availability, Mariposa del Caribe may be as well intended as a 5 star luxury hotel, provided with various pools with sea and fresh water, tennis courts, spa and other facilities that will perfectly blend with the natural harmony of the southern sea and its picturesque shore.
As the international economic crisis seemed to start evaporating, in 2013, after having built the whole 17 stories structure of the complex and then kept the project on hold for 3 years, in order to get a good picture of the best way to complete it, Petroholding Dominicana conducted a number of market researches and came to the conclusion that the most flexible way to proceed was to complete the development of Mariposa del Caribe as a luxury condominium-hotel, whereas the residential units being sold will benefit of all the services and facilities of the hotel portion.
Petroholding Dominicana invited international real estate experts and professionals with sound knowledge of the caribbean area with the purpose to elaborate and set up an updated business plan comprehensive of all the costs to complete the project, timing and exit values. The team conducted on site a detailed analysis of the proposals submitted by Dominican and international suppliers and vendors, together with a thorough market research having the purpose to benchmark and quote the local demand for quality hotel suites and luxury apartments.
Based on this, during 2016 Petroholding re-designed marketing and communication as well as certain architectonic features have been updated, so that the project has been renamed Terrazas de Juan Dolio allowing pre sales to begin and restart of completion works.