Palace Resorts Will Increase Its Tourism Investments Within The Dominican Republic

Gibran Chapur, Executive Vice President, Palace Resorts and the Minister of Tourism of The Dominican Republic Francisco Javier García

Santo Domingo. Palace Resorts, the company that sets the standard in five-star, luxury all-inclusive resort accommodations will be expanding its tourism offering with a new investment set in the Macao zone, in Punta Cana, aiming to expand Moon Palace Punta Cana, by adding an additional 1,200 rooms. Gibran Chapur, Executive Vice President of Palace Resorts made the announcement during a recent visit to the Dominican Republic.

Palace Resorts began construction of its new hotel Moon Palace Punta Cana, a 2,150-room hotel; featuring 20 restaurants; 9 Bars; 7 swimming pools; a Water Park; a Greg Norman Eco Signature Design Golf Course; a 75-booth Wellness Spa; a Casino; an 11,000 square meters Convention Center; a food distribution center; as well as a housing community for hotel staff.

Gibran Chapur, Executive Vice President of Palace Resorts, stated that the Dominican Republic is a safe tourist destination and that it will continue growing and developing; therefore, Palace Resorts will confidently continue investing in its tourism sector.

Said statements were made during a luncheon held with representatives of the private and public sectors. Chapur expressed that he felt no concern whatsoever with regards to the recent safety issues that affected the country, seeing it more as a circumstantial situation, resulting from the high-volume tourist influx that the country has welcomed in recent years.

On his behalf, Tourism Minister Francisco Javier Garcia, ensured that the country has responded to the situations which arose not long ago: “We can feel confident, that as a country, we have undertaken the necessary actions to counteract the recent events, and will always work towards continuing to improve, and especially prevent these situations from ever taking place again”, García expressed.

Héctor Inchaustegui and Tania Ramirez of TerraRD Partners, Anyarlene Berges from INICIA, Gabriel Rodriguez, from the Tourism Ministry, among others, also attended the luncheon.

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About Palace Resorts:

With ten oceanfront resorts and views of the breathtaking turquoise waters of the Caribbean Sea, Palace Resorts sets the highest standards for five-stars all-inclusive resorts in Mexico and Jamaica. The brand offers spacious luxury rooms, which are complemented with hydro-massage bathtubs, nighttime entertainment, and exuberant Wellness Centers of the Caribbean, alongside Jack Nicklaus Signature Golf Courses. Palace Resorts sets the foundation for a truly exceptional vacation experience. Its unparalleled service and comfort standards make the brand a world-class leader in vacation resorts. For more information, please visit: www.palaceresorts.com

About TerraRD Partners:

Terra RD Partners is a real estate asset management and administration firm with operations in the Dominican Republic. We promote investment in urban development, construction of global cities and the rational use of land, while preserving the natural capital and the cultural and historic legacy. We believe in a precise management model comprised of a perfect balance between natural capital, legacy, financial analysis, technology, sustainability and human capital. Terra RD Partners was founded in 2014 with headquarters in Santo Domingo and is co-manager of INICIA’s Terra Dominican Republic Investment Fund. For more information: www.terrardpartners.com.