ADETI supports actions to strengthen real estate tourism sector in the Dominican Republic

25-10-23

The Dominican Association of Tourism Real Estate Companies (ADETI), expressed its support for the general administrator of the Real Estate Registry, Jhonattan Toribio Frias in his call for the association to join the working groups created by the Advisory Council of the Real Estate Registry to discuss the necessary updates to strengthen the real estate sector in the country.

He also valued all the improvements presented by the entity during a meeting held between the directors of the Real Estate Registry and the Executive Committee of ADETI where the plans and projects for the continuous improvement of the Real Estate Registry service were presented and impressions were exchanged in view of the growth of the real estate tourism market, which was positioned in 2022 as the largest investment approved by the Ministry of Tourism and the Tourism Development Council, with 41.9% at the end of the year.

During the meeting, Jhonattan Toribio Frias shared the institutional transformation that the Real Estate Registry has undergone, as well as the main achievements of the past year and took the opportunity to highlight the main regulatory changes of Law 108-05 of the Real Estate Registry.

Jorge Subero Medina, president of ADETI thanked all those present for taking the time to discuss and think about such an important sector in the economy today and took the opportunity to highlight that this positive impact of real estate tourism and its increase has undoubtedly been thanks to the great legal security that the country has.

"This has allowed both national and international investors to feel the confidence to develop new and better areas of diversification in second, third and fourth line beach, moving little by little from the traditional sun and beach tourism", he concluded.

Finally, the members of ADETI, as major users, urged to continue working together to strengthen the entire real estate system, through legal instruments that guarantee a climate of legal certainty and transparency of investments, as a catalyst for economic development and growth of the real estate tourism sector.

ADETI, as a business association, brings together the main tourism real estate companies in the country, such as Cana Rock, Ciudad Destino Cap Cana, Costasur/Casa de Campo, Club Hemingway, Green One Playa Dorada, Grupo Puntacana, Grupo Velutini, Kaynoa, Metro Country Club, Playa Grande Golf & Ocean Club, Playa Nueva Romana, Puntarena, Rincón Bay, Terra RD Partners (INICIA's asset manager) and Tropicalia (Organización Cisneros).