Offering the best tourism real estate investment in the Caribbean

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Coral Bay by Noval Properties, located on a Golf Lovers Dream Course
Coral Bay by Noval Properties, located on a Golf Lovers Dream Course

With the best locations, high quality materials, complete property management and attractive prices they have become the top firm for real estate investments in the region.

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Published: Thu 27 Jan 2022, 8:00 AM

More than a construction company, Noval Properties is a world-class development institution. “Noval Properties has a 360-degree vision. We only build in the best locations, always with beach access or golf fields, and provide innovation in the real state model, with complete property management and furnishing services, making our offer ‘hassle-free’and giving a lot of value to clients”, assures Mr. Cesar Latrilla Rodero, CEO of Noval Properties.

Guaranteeing a 10% annual ROI, their projects combine five-star amenities and home comforts. They are very affordable, as Punta Cana has the lowest price in residential properties in the Caribbean, and their high-end building materials and finishes add further value. Additionally, investors wishing to rent or resell profit from Punta Cana’s advantages as an investment location, such as an annual appreciation of 15-20%, an average hotel occupancy of 87.7%, a low tax regime, and the fact that more than three million passengers, around 65% of all foreign tourists, arrive every year through Punta Cana International Airport.

Noval Properties began in 2003 with a clear vision of promoting touristic real estate in Punta Cana. By 2017, with the investment boom, its revenues went from USD $11M to $150M, and now they are going through a digital transformation. “Today Noval operates like a small multinational, with an international marketing and sales team of 40 people, and more than 200 real estate companies with almost 1,000 brokers”, assures Mr. Latrilla.

Moreover, the pandemic brought a profitable turn in the country’s touristic real estate sector. Due to the low-interest rates in the financial markets, investors started buying touristic properties in Punta Cana to enjoy them later, resulting in a 4% increase of the country’s GDP in 2021, and projected company revenues of $250M for 2022. “2021 was the best year in Noval’s history”, resumes Mr. Latrilla.

Their latest project, Morgan Capital by Noval, is focused on the local market, and will develop social housing, student residences, urban hotels, and senior residences with 12%-20% profitability. In the coming years, Noval Properties has some of the most ambitious construction projects in The Dominican Republic, with an inventory of USD $650M in the next 18 months alone. “The vision is to keep growing and take advantage of the momentum in the economy, the country’s reputation, and keep innovating”, assures Mr. Latrilla.

Working with the highest standards and innovations, they have built some of the country’s most important road and horizontal construction works

For almost four decades, Alba Sánchez has gained its place among the most important companies of the Dominican Republic’s construction sector. They began producing controlled quality aggregates, construction materials and hot asphalt concrete to supply their own projects. Later, they started supplying other clients, creating their Aggregates division. The market’s increasing needs led them to open two new divisions, Asphalt and Transportation, so now their services cover the principal needs of the horizontal construction market.

Alba Sánchez has developed some of the most important horizontal construction works of the Dominican Republic. From main public roads like the Duarte Highway and the Santo Domingo bypass, to private sector projects like the rebuilding of Port Caucedo’s pavements, currently owned by Dubai Ports; the main runways of several airports, including Punta Cana Airport; and the Urbanización Lagos, both owned by Grupo Puntacana. They have also worked internationally with the construction of Pont Sondé Mirebalais, one of Haiti’s main new roads.

Furthermore, they diversified and created Nodo, a world-class, all in one logistic solutions provider, and they look forward to new opportunities with the UAE, a relationship that has had a solid start with companies like DP World. For the time being, Alba Sánchez is proud of the projects they have developed and their role supporting the country’s economic development. After all, as Mr. Guillermo Alba, CEO of Alba Sánchez says, “you do not have to be a politician to contribute to your country. You can also do so privately through your businesses, creating projects that will grow and give more visibility to the Dominican Republic.”

Modernizing the Dominican Republic’s construction sector, one building at a time

Edif. Corporativo Campus Humano/ Corporate
Edif. Corporativo Campus Humano/ Corporate

For more than 30 years, Hageco has been developing innovative projects with the highest standards in the residential, commercial, and industrial fields.

“We build things as if they were for ourselves”, says Mr. Michel El-Hage, CEO of Hageco Engineers and Architects. From the design, construction and promotion, Hageco adapts to each project’s specific needs with the latest technologies and highest quality standards. Being leaders in the sector, throughout the years they have built some of the most modern and versatile buildings in the Dominican Republic, which have received several awards, like the Premio Obras Cemex, for their innovation, relevance and outstanding building standards.

One the reasons for their success is their emphasis on client satisfaction and building trust to maintain a solid reputation. Another is their diversification. Their varied portfolio includes housing departments, shopping centers, corporate buildings, commercial plazas, industrial warehouses, and churches, and they are currently entering the hotel sector. Having a clear business vision has also been key. With their “vertical integration” system they develop projects with their own equipment and resources from partner metal factory, Steeltec, keeping outsourcing to the minimum, improving execution times and technical developments.

In the next years, Hageco aims to keep growing at a planning and industrial level, promoting digitalization in all stages of the building process and continue investing in their human capital. As Mr. El-Hage explains, “construction is a multiplier industry. It impacts all the activities that revolve around it from the beginning to the end of the project. They all benefit and create jobs in turn.”

Luxurious and client-based construction services with the highest quality in the market

Constructora Aybar specializes on large tourist, commercial and industrial projects built with the highest standards and service.

“We are proud to have a long-term relationship with our clients, which we have built through excellent client service”, says Mr. Rafael Aybar Medrano, President of Constructora Aybar. It all began in 1987 while offering private touristic residences to high-level clients, who liked their services so much they started recommended them, and with time, this word-of-mouth clientele opened up new business horizons.

Today, Constructora Aybar has fully expanded into commercial and industrial building, while developing projects for the tourism sector, with hotels like Colonial Zone, Casas del XVI, Hyatt, Club Med and Iberostar, as well as touristic residences. They are also developing innovative mix-use projects like Distrito Piantini, and more recently Murales, a 41,500 m2 project that aims to renew the pier with murals, corporate towers and more than 700 apartments. So far, Constructora Aybar has executed more than 30 of the main construction projects in the country, with an approximate cost of USD $30 million.

In the coming years, they aim to continue delivering the highest quality projects and best client service in the market. As Mr. Aybar says, “what makes me feel proud is seeing our clients' satisfaction with the projects we deliver. Also, developing relationships with them is really fulfilling, since at the end of the projects they end up being friends.”

Innovative and refined real state solutions for the most demanding clients

Regatta Attico
Regatta Attico

With original concepts, high-quality materials and exquisite finishes, Contemega are recognized as one of the best construction, investment and project development companies in the country.

“Everyone is waiting to see what we do next”, says Mr. Roberto Lamarche, Head of Operations at Contemega. For the last 20 years, Contemega has recognized the changing needs of the real estate market and turned them into innovative and successful projects. They have developed more than thirty projects, around 600 apartments, with investments of USD $250 million. Their innovations go from design elements to developing new concepts.

For instance, Contemega started developing mix-use buildings combining apartments, hotels, restaurants and offices. They are also developing progressive residential units such as their Attico Project, with the latest technology like digital sensors, green energy solutions like solar panels and a two-level design where every apartment is a penthouse. Furthermore, they build apartments to be used as hotels and offer clients all the required management services, including booking, housekeeping and room service, maximizing investors' profitability.

In the future, Contemega plans to bring their housing projects to the most important touristic spots in the country, like Punta Cana, Puerto Plata and Las Terrenas, so they can reach a more foreign market. For now, they are satisfied with what they have built. As Mr. Lamarche confidently states, ‘Contemega has a good reputation, we are successful on every project we start, and we stay there for our clients to assist them even after the project finishes. If clients feel certain about investing with us, then they will not need anything else.”

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