Tourism and the Condo/Villa Residency Market on the North Coast Just Got a Huge Boost:
Talk about big news for Cabarete, Sosua, and Puerto Plata, Carnival Cruise Lines in mid-August inked a deal that will significantly enhance the visibility of the “Part Time Residency” tsunami that in recent years has attracted such an interesting mix of expats from Canada, The United States, and Europe. Long known as a favorite destination to enjoy the year round wind sports such as kite boarding and wind surfing, the north coast (Cabarete and Sosua) has for years steadily identified itself as a premier real estate value for retirees and vacation home buyers who want to spend a few months in the tropics out of the cold weather in their home countries.
Tourism minister Francisco Javier Garcia announced that the new cruise ship port would be open before the end of 2014, less than a three year window. Carnival Cruise lines plans a $65 million dollar (US) two-berth port facility in the Bay of Maimon just minutes west of Puerto Plata and only five minutes from the Ocean World tourist attraction that has become one of the best Dolphinarium facilities in the world. This area also has a modern boat marina as well as Las Vegas style hotel/show/restaurant.
Gloria Israel, Carnival’s VP of Port Development said Dufry (duty free shops) would be a joint developer partner. Though financed entirely by the Carnival/Dufry group, port executives anticipate non-Carnival controlled ships utilizing the facility as well further increasing familiarity with this important Dominican residency/tourism market increasingly being sought out my North Americans looking to escape the grind.
Dredging of a cruise ship channel into the bay will precede construction and land purchases have recently been completed for the deal to proceed as planned.
Carnival Cruise Line is the world’s largest cruise ship operator with ten cruise lines that own over 100 ships that visit over 169 ports world wide, an ever expanding universe of connections. The lines include Carnival Cruise Lines, Holland America Line, Princess Cruises and Seabourn. Carnival and sister ship line Costa each dock at the La Romana port. Construction begins in 2012 and the first cruise ship arrival is scheduled for summer 2014.
Carnival will build and operate the cruise terminal and is expected to have complete control over the ship scheduling, passengers and arrival area. Parking and facilities for the taxis and tour buses will be provided under the terms and procedures set forth by Carnival to maintain an efficient cruise ship port operation. This development is expected to be a significant financial boost for the Puerto Plata region with the construction itself generating numerous jobs that later will be supplanted by new jobs generated to service the ships and visiting passengers.
The port will be prepared to receive two ships with around 2,000 passengers and 500 crew members each at the same time.
Re/Max Coral Bay currently sees a window of opportunity for securing high value low cost properties before natural market forces drive prices higher. Now is the time to look at properties to suit a variety of retirement, second home, and rental investment need and this opportune timing is made even more appealing by the recent expansion of the best gated new villa complex on the north coast, only 15 minutes east of the Puerto Plata airport and located between the two charming towns of Cabarete and Sosua.
For a “Catalogue of Homes” or a copy of “The DR Welcome Guide” contact Arthur or Sally. We will be happy to schedule an appointment for you to find your piece of paradise while it is still so amazingly affordable. Contact us today.