Javier Tejada, general manager of United Capital Stock Exchange, said:
It is more than US$700 million and the figure could increase to 1.2 billion
Related topics: Javier Tejada, United Capital Stock Exchange
August 2, 2024
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Currently, funding for the tourism sector through investment funds is more than US$700 million and the figure is expected to increase to US$1.2 billion in the next 24 months when the projects currently underway are completed.
This is what he said Javier Tejadamanager and general director of United Capital Stock Exchangewho highlighted that investors see the Dominican stock market as a powerful tool to finance their projects.
Among the projects that use investment funds to be built are several hotels in the city of Santo Domingo such as the JW Marriott, Embassy Suite; in The Roman the Hotel Dreams Dominicus; in Cap Cana El Dorado Park, largest water park in the Caribbean. Also in Miches he Club Med, which is owned by investment funds; El Portillo in Samana; in Puerto Plata it’s found Brigantine Pointwhich is anchored in a public-private collaboration, where pension funds have an important participation.
While in Flints whose comprehensive development of part of the airport, port, electrical, health, road and Hotel infrastructure is anchored to investment funds.
He said that investment funds are not a competitor to traditional credit, but rather allies and complements, and their specialty is to manage capital and ensure that it is invested responsibly, sustainably, and creates benefits for the investor and development for the entire country, according to Hoy.
“Investors will be increasingly working with new hotels, but also with the complementary tourism offering and in the development of new destinations that require 20 to 30 years to reach maturity,” said Tejeda yesterday during a panel discussion within the framework of the 62nd anniversary of the Association of Hotels and Tourism (Asonahores).
