Spain’s CLERHP, focused on development, engineering and construction in Spain and Latin America, presented at FITUR its Larimar City & Resort real estate project, which is set to become the first Smart City in the Caribbean.
A smart city located in Punta Cana, Dominican Republic, just 10 kilometers from the coast, and which will begin construction in 2023. In fact, CLERPH expects to conclude its first phase in 2025, with the generation of a turnover of 300 million euros and more than 100 million EBITDA.
This year sees the start of construction with two major residential projects, Prime Towers and Horizon View, as well as the creation of a set of beaches and artificial pools that will form a boardwalk of more than 3 km in length, overlooking the nearby Punta Cana beach.
Among its experiences will be its own golf course and country club, university, health services, shopping centers, offices, restaurants, hotels, leisure facilities, as well as the construction of a Beach Club, huge artificial pools, children’s play areas and sports courts, which will provide residents and visitors with unique comfort.
A project that has already attracted the attention of European and American investors, who have joined this initiative, considered to become an important economic and social center for this region of the Caribbean.
As Juan Andrés Romero, CEO of CLERHP, explains, “with Larimar City & Resort we have been ambitious, because our deep knowledge and experience has allowed us to develop a solid and profitable plan, both for our shareholders and investors.
We have created a disruptive project in the area, to build from scratch a sustainable and smart city concept, which will bet on renewable energy, the reduction of energy costs and the optimization of water resources, thanks to the use of new technologies such as AI, Big Data and IoT, among some of the chosen ones”.
In fact, the new urban core Larimar City & Resort, will be located on the Farallón de Verón, a 100 m high cliff, on which the spectacular artificial beach will be built and which will allow to enjoy views of the Caribbean, while promoting sustainable and efficient development in all areas.
It will have 10 linked phases, and will include residential buildings, hotels, schools, a health center and a university, as well as commercial and leisure areas to create a truly self-sufficient and green city.
Once completed, it is expected to have an estimated potential population of between 35,000 and 55,000 residents, who will occupy the 20,000 homes and other complexes, such as hotels, that will be located in Larimar City & Resort.
During the most recent edition of FITUR, the Larimar City project received the support of authorities from both Spain and the Dominican Republic, who visited the CLERHP stand. Some of the personalities were the president of the Region of Murcia, Fernando López Miras, and the vice consul of the Dominican Republic, Francisco Alberto Abreu.
“The launch of the Larimar City & Resort project has been very well received at FITUR, both at the institutional and business levels, since it has aroused the interest of investors and buyers. In fact, a significant amount of business has been generated during this event,” says Pablo Gris, director of Major Projects and Operations at CLERHP, who points out that the Larimar City & Resort project has been very well received at FITUR, both at the institutional and business levels.
CLERHP, who emphasizes that the Dominican Republic has been chosen for this ambitious initiative because “it is a consolidated real estate market, the second largest country in the region, which enjoys political and socioeconomic stability, with the highest GDP growth in the region (7.5% year-on-year) and contained inflation.
In addition, its proximity to Miami, New York and good connections with Europe make it a priority destination for many investors”.
It is worth noting that CLERHP has an extensive international track record, mainly focused on Latin America, where it has offices and delegations in Paraguay, Bolivia and the Dominican Republic, where it has developed and executed important projects such as the Radisson Hotel complex in Bolivia and the new offices of the Government of Paraguay.