The Gran Salón Inmobiliario Colombia (GSI 2023), a fair that has been held for the past 17 years at the Corferias Convention Center, closed this year with the participation of 158 international exhibitors. The destination city of Cap Cana led the representation of the Dominican Republic with 15 projects.
The executive president of Cap Cana, Jorge Subero Medina, highlighted the work of the Dominican government in promoting the country to strengthen it as an investment destination for real estate tourism. In his opinion, this has been key to leverage the development shown by this sector.
“We must also recognize the work that hoteliers and the business sector in general have done, but also all Dominicans because we have gone out to say all the good things that we have as an investment destination,” said the Cap Cana executive when speaking with elDinero during the opening of GSI 2023.
Fortunately, he said, Dominicans can go out and tell the world what the country offers in terms of legal, physical and economic security that it has developed. Another aspect that stands out is that the International Monetary Fund (IMF) places the local economy as one of those with the best growth projections for the future in the region.
On this occasion, the international activity was dedicated to the Dominican Republic due to the increase in flights between both countries, and thanks to the fact that in 2022 the fair had a closing that exceeded all expectations with the attendance of more than 20,000 visitors and 180 exhibitors.
During the four days of the exhibition, Cap Cana led the representation of real estate products for sale. Its stand featured the Paseo del Farallón, Core, Green Moon, Icon Bay, Sea View, Dezenove, Vermare, Waterfalls, 7 Mares, Cana Alta, Vita del Mare, Serenissima and Navío projects, as well as a large availability of land for project development.
The Dominican ambassador to Colombia, Felix Aracena, participated in the inauguration ceremony. He highlighted the ties of friendship that unite both countries and assured that the diplomatic delegation is there to highlight the potential of both peoples.
“To the businessmen participating, to the 42 companies present, on behalf of the Dominican people and government, this is an opportunity to show the kindness of our people,” he said.
Explaining why the Dominican Republic is a country of opportunities, he highlighted that of the 500 most prestigious companies in the world, 352 have a presence in the country. He highlighted the more than US$4 billion in foreign investment in 2022.
He said that the Dominican government, led by President Luis Abinader, is the main promoter of investment, where officials have not become competitors of businessmen. He emphasized that in the country it is possible to incorporate a company in 24 hours.
“I take this opportunity to thank the Banco de Reservas, in the person of its administrator Samuel Pereyra, for the support in all the initiatives with a view to making the participation of the country a reality”, he said, while revealing that about 400 Dominicans are in Colombia participating in this fair.
Subero Medina, referring to the proximity between the two countries, pointed out among the advantages that flights are about two hours, depending on the city, which has led to a diversification of tourism in real estate.
“Let’s remember that tourism is not only sun and beach, but also other places and attractions. Here, as you will see, many golf course projects, stables and other investment alternatives offered by the Dominican Republic are being sold,” he explains.
According to the executive president of Cap Cana, Bogota has shown an interesting boom and has become a kind of hub for all of South America. For this reason, he says, tourists coming to the Dominican Republic from Colombia are also from other countries in the region.
Subero Medina relates the boom in the sector to the post-pandemic, as many people have realized that it is possible to live in other places and with the best conditions, including such important variables as legal security. In fact, he says, this type of fair has had a resurgence due to the recovery of the economies after the covid-19 pandemic.
“We were here for the first time last year and there were only two pavilions and now there are three, so seeing countries like the United States, Panama, Costa Rica, Dominican Republic and others encouraged by real estate tourism fills us with pride and for that reason we see an extraordinary future,” he says.
The Dominican Republic leveraged its strategy and representation on the growing tourism, its infrastructure and the good economic moment this area of the Caribbean is going through.
The Great Real Estate Exhibition brings together in one place the most representative national and international builders, developers, real estate companies and developers with an attractive and wide range of investment projects in residential, office, hotel, commercial and industrial real estate assets.
At the close of the exhibition, Corferias announced that the fair was attended by more than 20,308 visitors and 158 exhibitors in general, exceeding expectations. Among the novelties was that for the first time three pavilions were set up, two of which were for international representation.