Financing agreement signed for the development of Uvero Alto

The financing agreement signed by these companies is for the construction of the W All-Inclusive Punta Cana Uvero Alto, which will generate 600 new jobs in this tourist destination and is worth US$78.9 million.

FITUR, Madrid, Spain. As part of Fitur 2023, the Puntacana Group, MAC Hotels and Banco BHD signed an agreement for the construction of a luxury hotel complex that will contribute to the development of Uvero Alto, a tourist resort located in the province of La Altagracia, in the eastern part of the Dominican Republic.

The W All-Inclusive Punta Cana Uvero Alto is expected to be the first W Hotels property in the market and one of Marriott International’s first W All-Inclusive resorts in the world. For its construction and start-up, Banco BHD granted US$78.9 million in financing.

“The signing of the W Punta Cana Uvero Alto demonstrates our strong commitment to the tourism development of Uvero Alto. This project will increase the hotel offer in the region and generate some 600 new jobs,” said Frank Elías Rainieri, president and CEO of Grupo Puntacana.

Construction of the W All-Inclusive Punta Cana Uvero Alto is scheduled to begin in the coming months and is expected to open in 2025.Mac Hotels, Grupo Puntacana y BHD

Luis Molina Maríñez, senior vice president of Corporate and Business Banking at Banco BHD, said: “We are pleased to be part of this alliance with two large business groups in the tourism sector that stand out for their excellence and experience in the industry, and in whom we have full confidence for the success of this project”.

The resort will feature 349 hotel rooms with balconies and plunge pools, as well as several suites. Its programming will be designed for adults and plans for the resort include a spa with eleven treatment rooms, a shopping area, three pools with bars and eleven dining and bar options.

Also participating in the signing of the agreement for Grupo Puntacana were Frank Rainieri, founder and chairman of the board; Paola Rainieri de Diaz, Chief Marketing Officer; and Haydée Rainieri, board member. MAC Hotels was represented by Miguel Amengual Cifre, founder and chairman of the board; Begoña Delgado Serra, board member; Begoña Amengual Delgado, CEO; and Aina Amengual Delgado, Chief Operations Officer.

Among the BHD Bank executives, along with Molina Maríñez, Josefina Navarro, senior vice president of Corporate Communications and Social Responsibility; Ariel Pérez, vice president of Tourism and Related Services; Rosa Romero, vice president of Corporate Communications and Social Responsibility; Ariel Pérez, vice president of Tourism and Related Services; and Rosa Romero, vice president of Corporate Communications and Social Responsibility.

Services; Rosa Romero, vice-president of Structured Finance; Andrés Abbott, second vice-president of Tourism and Related Services; and Efraín Féliz, second vice-president of Structured Finance.

Source: Mitur.gob.do

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