Real estate sector attracts foreign investment to the DR

Foreign investments in local real estate activities represent 11% of the total portfolio.

The Dominican Republic is diversifying its tourism offer and is betting on real estate tourism as a generator of investment and visitor flow.

According to data from the Central Bank, the tourism sector is positioned as the second largest recipient of foreign direct investment (FDI), with US$271.9 million between January-March 2023, for an increase of 13.6%. While the real estate sector ranks fourth with US$118.5 million, an increase of 7.7% (US$8.5 million more) compared to the same period of 2022 and 6.2% more than the first quarter of 2020, the year of the covid-19 pandemic.

The official figures evidence the importance of these sectors, although the activity of goods if compared to the first three months of 2021 had a slight reduction of 0.5%, when it was US$119.1 million. Despite this, both sectors together accumulate US$390.4 million. That is, 36.4% of the total (US$1,069.7) in the period analyzed.

Above the hotel industry is the energy sector with US$272.5 million. In other words, 25.4% of the foreign investment portfolio corresponds to energy projects. This, in turn, is equivalent to a growth of 82% compared to the same quarter of 2022, which was US$149.6 million, according to statistics from the monetary body.

Source: Eldinero.com.do

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Dominican Republic Live Editor

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