Downtown Residences Punta Cana

That would not be surprising for this area.  After personal experiences, I would not recommend buying new property anywhere in this area.  If there is any Dominican influence at all in the project you can be assured it will be full of corruption and deceit.  Lots of promises and pretty pictures, a dream world you will be led to believe.  Upon signing your agreement your nightmare will start.  Just check any of your countries government websites and they will tell you about this countries dangers.  The government and legal system here are full of actions and issues against builders in this regard.  If the project is 100% international (which will be near impossible to validate) then you stand a chance.  My suggestion is rent first and if you have to buy, purchase something existing where all of the paperwork is in place and you can see what you are getting.  Dominican builders have failed this country.

Well said.

Thank you for your information and quick reply.  We did get a basic story that it was a Venezuelan Builder and that there was an issue with the permits and something ecological.  Youtube has a nice video of the project in progress; but I recently noticed that everything kind of stopped sometime in 2016.

I can only re-iterate the above but experience has shown me that people only believe what they want to believe and it's seldom the truth.

A weak part of human nature unfortunately.

I posted 2 new topics in the forum; but it appears they were quickly deleted.   It wasn't spam or anything like that;  I am just trying to gather more information and opinions on new construction in the Punta Cana area.   It seems like an interesting group here.  I will make my profile more interesting in time.

They were repeats of what is in this thread. Asking 3 times won't get you different answers honey. Keep it all in one place please.

I should have named the forum Downtown Punta Cana.  Planner was right, better to keep it all in one place.  I am looking for feedback on new developments going up in Punta Cana.  Two that have caught my eye are....The BEACH at City Place Downtown Punta Cana; and Westside Residences Punta Cana.   I understand there are some very good tax incentives thru CONFOTUR (I don't know if I am spelling it right) but those incentives are not available through every builder as it is apparently a very detailed process for the builder to apply for those incentives.

I have a friend who works in this area and have asked him for feedback

Here is what I found out so far:  City Place land is cleared but no construction yet. There seems to be new management since the original project manager got a contract elsewhere

@planner, as of right now. What is the status of that project? I am being approached this week about the project Downtown Residences and like someone mentioned before the information they bring is very vague. Please advise!

Hello Eduardo

I am living here (renting) but I come and go regularly for a few years. I am usually here Jan-April and sometimes in the fall.  I agree 100% with DominicanadaMike.  I dont want to sell my house in Canada, so I dont want a 2nd one here.  Apartment rental is fine for me.  I also dont see the value of real estate go up here so investing for future sales might not be a good idea unless you want to own it for a lifetime and not expect a profit.

There is no national single site real estate listing service so you cant really see what is available and real estate brokers  (I never met a legit licensed one ) are just people who are good at sales and dress professionally.  They tend to guide you to new construction where they make alot in commissions and its easy for them, like picking low hanging fruit.

I rent and keep all my personal items in the apartment.  I sure like getting on a plane without a suitcase.  I keep alot of clothes, shoes, etc. I like to cook so I have stuff like that, even microwave and tv.  So when you get on a plane, you dont have to bring anything and when you arrive, you have it how you like it.   

Karin

I myself my partner and loads of family members all have invested in this project and we regret we didnt see the Beach in time before all 15-20 of us all invested $60k or more each. we are all highly upset and dont know what to do. these folks have flew us out to punta cana. they have also held events in New York all catching our attention.

I am sorry to hear this. As always here, it's buyer beware

@doubled6

please give us more facts and details so we can forward the info to others both at home and in The DR and keep watch.

@planner

Thank you. I wish that the country would hold the people more accountable for what they have done.

@delmerbmartin

Well the good thing is that the company isnt advertising for that location anymore and their pages are all non posting for a few years now. the location was DTR Residences. Which was kind of like almost how the "Beach" was designed but a smaller scale. They are literally next door from each other.

@doubled6

I agree with you 100%