The real value of Cap Cana land Today – USD 8 per m2 or less!!!

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The owners behind Cap Cana are desperate to sell land to keep the project alive. Just in front of the completely failed Donald TRUMP project they are now selling 2000 acres for USD 56 million (USD 8 per m2 and they will even take an offer) so those who paid 200 – 500 per m2 for their plot of land can see real time value of this dead and hyped luxury development. The land was listed on LandWatch.com and the broker offering the land is http://www.puntacanainvestments.com/2000-acres.html

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Below some of the completely untrue information from the brokers website, Jimmy Nunez must be drugged up when he wrote it because he forgot to mention that Donald Trump is suing Cap Cana over missing royalty payments on his name, TRUMP Farallon will never happen and Green Village is dead too, investors have lost millions of dollars in Cap Cana:

~~LAST PROPERTY IN PUNTA CANA “BACK ON MARKET” Location, location location, its the best location in Punta Cana at a price you will not find anywhere in Punta Cana! This is the last property for sale by its owners inside the city of Cap Cana. Located in between the projects of Donald Trump and Cap Cana, overlooking the ocean and Cap Cana. Donald Trump, The Ritz Carlton, Wyndham Hotels & Resorts, Secrets Resorts, AmResorts, Solaya Hotels, are the big names, building there village inside Cap Cana. 

This is a Billion dollar profit investment potential, where the square meter goes from $270-$470 U.S a square meter and we are selling at $8 U.S a square meter (negotiable).  This is roughly 2,000 Acres in one of the most desirable and expensive areas in the Dominican Republic. This property is ready to be built on, its flat land with bedrocks which makes construction very durable and contains a water well with 99% percent pure drinking water.

Dominican Watchdog Note: Buying property in Cap Cana today is the fastest way you can lose your money!!! Follow Dominican Watchdog for the truth about the Dominican Republic! If you absolutely need a property in Dom Rep, visit Casa de Campo first.

SOTO GRANDE CAP CANA, Foreclosures stun Dominican Republic’s biggest resort complex

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The financial problems for Cap Cana is by no means over!!! Dominican Republic’s State-owned bank (Banreservas) foreclosed on 41 units in an upscale real estate development at the complex Cap Cana (east), built by the Spanish hotel chain NH Hoteles and the S&L Caja Duero, according to Spanish media reports on Tuesday.

As a result of the developer Capredo Investment’s failure to pay the US$24.8 million debt, Banreservas has seized the units built jointly with a local partner.

The hotel chain and Caja Duero own 25% of Capredo Investment, Switzerland based company, which in 2006 launched the project to build luxury 90-room hotel and some 335 luxury homes in three phases.

The development called Sotogrande was built at Cap Cana to attract wealthy Spaniards who already had properties at the exclusive Bahia de San Roque, Cádiz.

NH Hotels, seeking to replicate their success with a high end urban development such as Sotogrande, began construction of the first phase with 122 apartments on nearly 40,000 square meters of land on October 15, 2008.

This first phase was completed at the end of November 2010, with the global financial crisis already in full swing.

The promoter managed to sell just 78 united, but finally handed over only 71, since seven were about to be handed to, or being renegotiated with the buyers. The remaining 44 were finished, empty, and without buyers.

After several rounds of negotiations with the Banreservas, the Dominican bank opted to foreclose on the apartments at Cap Cana, the country’s biggest resort development.

READ MORE DOMINICAN WATCHDOG: Trump Lawsuit Against Cap Cana – Russian Mafia Money In Cap Cana – Huge Scandal Involving Green Village And Stewart Title – USD 500 Million Lost In Cap Cana – Don’t Buy In Cap Cana YET!!

Desperate property owners in Cap Cana dump their properties at 25- 40% of original price in upcoming auction in September, Let’s see if they will sell anything…..

AUCTION September 22, 2012 | 4 Luxury Golf & Ocean Properties, Punta Cana

Includes a Magnificent Caribbean Villa Once Offered for $14.8 Million. Now Selling to the Highest Bidder at or Above $2.5 Million. A spectacular, lender-owned portfolio consisting of 4 properties in the Dominican Republic’s illustrious Cap Cana resort community. Cap Cana, located in the famous Punta Cana region, has been recognized by international jet-setters as one of the world’s most beautiful and luxurious Caribbean resort communities. Enjoy pristine beaches, crystal blue waters and world-class golf courses!

AUCTION DATE & LOCATION
Saturday, September 22, 2012 at 4:00pm (EDT) at the Sanctuary Cap Cana Resort.
Contact Platinum for details about the Auction Day event. Remote bidding is also available.

BIDDER REGISTRATION DEADLINE
Friday, September 21, 2012 by 5:00pm (EDT). Contact Platinum for registration procedures.

PROPERTY PREVIEW SCHEDULE
August 13 – September 13: Previews by request and with advance appointment.
September 13 – September 22: Dedicated property previews from 10am – 6pm daily, as applicable.

DOMINICAN CALLERS: +829.954.8128
U.S. & INTERNATIONAL CALLERS: +1 305.744.5220.

Hablamos español. Para comunicarse con un representante de la subasta, haga clic aquí.



ABOUT CAP CANA: AN OVERVIEW

Cap Cana is a luxurious master planned community located within the Punta Cana region of the Dominican Republic, the second largest island of the Caribbean. Nestled along the country’s eastern shoreline, this slice of paradise is less than fifteen minutes from the Punta Cana International Airport (and with the completion of the new Coral Highway in August, 2012, Cap Cana is now also just under 2 hours from the capital city of Santo Domingo by automobile).

Many Dominicans consider Cap Cana to be a point of national pride and a true “jewel” within the Caribbean. First-time visitors are often impressed by Cap Cana’s infrastructure: the area boasts beautiful landscaping and miles of cleanly paved roads, a sure sign that this is not the “typical” Caribbean resort town. The development has modern grids for water, irrigation and sanitation, and is also equipped with a fiber optic telecommunications network. And like many coastal resort communities, Cap Cana also offers plenty of options for fine dining, upscale shopping and a relaxing day at the spa.

Although Cap Cana’s pure, white sand beaches, turquoise waters and luxury resorts attract upscale travelers from all over the world, it is perhaps best known for its most prominent facilities, the Cap Marina and the Punta Espada Golf Course.

The Cap Cana marina is the largest of its kind in the Caribbean. A collection of mega yachts and luxury sport fishing craft can be found in the marina at any given time, especially during the summer months when Cap Cana is host to a series of fishing tournaments.

The golfing facilities in Cap Cana are world famous for both the quality of play and the breathtaking oceanfront surroundings. The Punta Espada is a Jack Nicklaus Signature course that has played host to the PGA’s Champions Tour and has been ranked by Golfweek as the #1 golf course in Mexico and the Caribbean for four consecutive years.


ABOUT CAP CANA REAL ESTATE

Cap Cana does not just cater to international visitors: the development is also home to a considerable number of private properties, ranging from cozy waterfront condominiums and beachfront bungalows to spectacular estate residences owned by some of the Caribbean’s (and the world’s) wealthiest individuals.

In 2011, luxury purchasers proved that Cap Cana is still in demand, as they closed on more than $42 Million in luxury property there (including individual sales above $5.5 Million). Approximately 50% of these luxury real estate purchasers were from the United States, with the remainder coming from the Dominican Republic, Venezuela, Russia and other Latin American countries.
ABOUT THE AUCTION PROPERTIES
The following 4 luxury properties will be sold on the September 22, 2012 auction date:


  • Total Area of Construction: 11,259 sq. ft (1,046 sq. m.)
  • Total Lot Area: 72,947 sq. ft. (6,777 sq. m.)
  • Year Built: 2009/2012

Previously Offered for US $14.8 Million.
Now Selling to the Highest Bidder at or Above US $2.5 Million.
The Founder’s Golf Villa is situated atop a gentle bluff, overlooking the 9th hole of the Punta Espada golf course and the glistening Caribbean Sea. This Villa is a masterpiece of authentic Caribbean architecture, with an “indoor meets outdoor” design based on a graceful arc shape. At the center of the arc is a serene courtyard that elegantly combines the elements of water, stone, wood and lush landscaping.

Outdoor living spaces at the Villa are quite magnificent, with various waterfalls, fountains, ponds and pools located throughout. Sweeping ocean vistas can be enjoyed from Jacuzzis located on the ground level and the 2nd floor, just outside the master suite. A large infinity pool gently spills into a man-made beach area of nearly 40 meters (120 ft.) in length. The vast patio areas and over-sized gazebo provide excellent opportunities for lounging in the shade with friends and family.

The Villa has 5 bedrooms – each with a full bath – and 9 additional bathrooms. There are also rooms fit for formal dining, a wine cellar, office, security/staff quarters and a fitness room/spa. All interior rooms have air conditioning. Floor-to-ceiling glass doors enable the corners or walls of many rooms to be opened wide to greet the gentle Caribbean breeze. The Villa also has a 4-car garage, and paved parking for up to 10 additional vehicles.

The Founder’s Golf Villa is offered unfurnished, with some rooms ready for the buyer’s completion or custom finishes.

 
Click the image above to view decorator renderings of the Founder’s Golf Villa. Click the image above to view architect plans of the Founder’s Golf Villa. Note: Very large file. For best results, click “Download” in the upper right corner of the newly opened webpage to download the file in its full size.



  • Total Area of Construction: 7,696 sq. ft (715 sq. m.)
  • Total Lot Area: 25,295 sq. ft. (2,350 sq. m.)
  • Year Built: 2007/2008

Similar Villas are Currently Asking US $1.6 Million – US $3.6 Million Each.
This Villa Now Selling to the Highest Bidder at or Above US $600,000.
This sprawling, single-story golf-front estate is located along the fairway of the 6th hole of the Punta Espada Jack Nicklaus Signature golf course. Volume ceilings and bright, open spaces define the interiors of the home, while the outdoor living space features large patios and a custom-designed swimming pool.

Vista Las Palmas also takes advantage of the natural beauty of its surroundings with a flowing, inside-to-outside design accented by a palette of natural woods, marble and stone.

The Villa Las Palmas is offered unfurnished, ready to be filled with your Caribbean treasures.


  • Total Lot Area: 79,814 sq. ft (7,415 sq. m.)

Similar Homesites are Currently Asking US $1.7 Million – US $3.5 Million Each.
This Homesite Now Selling to the Highest Bidder at or Above US $600,000.
This over-sized lot is part of the Fundador Golf development in Cap Cana, an exclusive enclave of just over 30 homesites where some of the area’s largest villas are located. Lot No. 135 offers beautiful golf and ocean views from atop a gentle slope. It is located a short distance from the Founder’s Golf Villa and is just off of the 1st hole of the Punta Espada golf course.

Click the image above to view the lot map for the Fundador Golf Lot.


  • Total Lot Area: 24,003 sq. ft (2,230 sq. m.)

Similar Homesites are Currently Asking US $950,000 – US $2.5 Million Each.
This Homesite Now Selling to the Highest Bidder at or Above US $500,000.

This beautiful ocean view lot is located in the Punta Majagua planned development. Punta Majagua consists of only 21 private lots. Lot No. 156 features direct frontage on hole No. 2 of the of the Punta Espada golf course (considered by many as one of the most beautiful Par 5 holes in all of the Caribbean).

Click the image above to view the lot map for the Majagua Lot.

BIDDER’S BROCHURE & TERMS OF SALE
Please click on the image below for the Bidder’s Brochure & Terms of Sale. This document contains important information about the Auction procedures and about bidder registration.

Click the image above to download the Bidder’s Brochure & Terms of Sale. (Large file. Allow time to load). Or go to official website http://platinumluxuryauctions.com/listings_detail.php?ListingID=34

Donald Trump files USD 5.8 Million lawsuit against Cap Cana

It was only a question of time before that lawsuit came from Trump. Cap Cana will soon be broken into small pieces by all their creditors! First Punta Perla, then Roco Ki and now Cap Cana – Foreign property buyers has lost over USD 2 Billion in the Punta Cana area in less than 3 years!

(New York Post) – Donald Trump has a message for a bunch of developers in the Dominican Republic: You’re sued!

The Donald slapped Cap Cana S.A. and its owners with a $5.8 million-plus suit yesterday for allegedly stiffing him on licensing fees to use his name on the Trump at Cap Cana luxury resort.

The 8,000-acre, oceanfront project was launched in 2007 with sales of the Trump Farallon Estates at Cap Cana, a gated community of 68 lots costing $3 million to $12 million each.

The orange-haired mogul says he personally appeared at the sales event, and featured the project on the sixth season finale of his TV show “The Apprentice”

But the developers abruptly stopped sending monthly sales reports to his Trump Marks Real Estate firm after the start of the 2008 financial meltdown, Trump charges.

“Even more egregiously, however, in or about May 2009, Cap Cana claimed that it had squandered the funds that it had received from buyers and lacked sufficient capital to pay Trump Marks any portion of the license fees which were admittedly owed months earlier,” the suit says.

Cap Cana didn’t return an email seeking comment.

Dominican Watchdog Note | What could Cap Cana possible say of interest to anybody, they failed and that’s it! The show is over, just pack and go home, last man switch off the light please.

Cap Cana Free Fall Continues – Punta Espada taken by bank

PUNTA ESPADA GOLF COURSE taken by BanReservas and put up for sale!!

First Cap Cana was forced to cancel the expensive TROON management contract for their only one of three promised golf courses (not to mention the one TRUMP promised and never build in Farallones). And recently BANRESERVAS which is only one of the creditors to which Cap Cana has defaulted on their payments has now taken control over the Punte Espada Golf Course and put it up for sale!

Dominican Watchdog has been informed that a group of people lead by Angel from Sunport is looking for investors in the scale of Euro 50-200 million to take over distressed property inside Cap Cana at the price of about 30% of what buyers originally paid.

Such a distressed property fond will depend on two things:

1. Harzoury and his people are removed from any management of Cap Cana.

2. Serious attention in placed on kick-starting the Marina with 2 year free rental agreements and that Cap Cana Marina is opened to public. A dead marina is equal to a dead development as the marina is the heart of Cap Cana.

President Leonel Fernandez also allowed BanReservas to finance a tower by drug money in Santo Domingo: Real estate boom or money laundering in Dominican Republic – You Lose! (Update 20)

Read also: In 2 years foreign property buyers lost over US$ 1 billion in Punta Cana alone

Foreign property buyers of vacation homes in the Punta Cana area lost more than US$ 1 billion on unfinished developments like Cap Cana, Punta Perla and Roco Ki among others in the last couple years. This is only the top of the iceberg in the Dominican Republic were a corrupt justice system and useless title guarantee companies has left foreign buyers without money and property all over the DR

Another USD 350 Million lost in Cap Cana with TRUMP!

Don't Buy Anything In Cap Cana

Dominican Watchdog has on our main website issued a warning against buying any property in Cap Cana after the USD 134 Million scandal with Stewart Title Guarantee and Green Village in which they failed in protecting investor deposits.

Below is a post from DR1.com this Easter. it has become clear that the investors in TRUMP at CAP CANA were fooled into that auction of TRUMP FARALLON ESTATE. Nothing happened up there since the auction. If these money too are gone from Stewart Title Guarantee Services in the Dominican Republic, then we are talking about fraud of close to USD 500 Million in Cap Cana. I wonder when investors will wake up and take action against the development and change the management.

Cap Cana could have been a fantastic development if the Marina had been public, they had all the chances of creating an European marina feeling like ST. Tropez and Puerto Banus. The Marina was there before the Paradiso Mall, and HARD ROCK cafe should have been in the Cap Cana Marina, but the management completely failed their duties of attracting life and business to the marina. Cap Cana Marina is the heart of the project and until somebody makes it beat, no blood will flow to the rest of the development. Today Cap Cana is DEAD!

Quote Originally Posted by Robert View Post
Today I drove around Cap Cana as I haven’t seen the development for a year or more.
Some building is going on, but it’s very sparse and by the looks of it, very slow.The Trump development is dead in the water, going by what I witnessed today.Overgrown Trump “SOLD” sign
Trump Towers signage

Derelict Trump property

I am not surprised it is dead! I don’t know why would anyone want to associate with him. In business. He is overrated, and the truth is that the guy is a failure. Everything he touches fails, 4 bankruptcies under his belt in less than 20 years, not to mention that Mike Tyson hired him as his financial advisor, which also lead Mike Tyson to bankruptcy himself. It seems that the only thing that he is really good at, is, bankruptcies. SOURCE

Mega Cap Cana scandal involving Stewart Title and Green Village

Those who thought they bought property in the Punta Cana area has lost over USD 500 million on 4 different developments both projects and prices keep falling - Talking about a free fall out of control here - There is no way out. Cap Cana real estate is doomed !!

Cap Cana is in a Free Fall – Ritz Carlton, Trump and everybody else has left the sinking ship! Investors who expected to be protected by Stewart Title lost their money. Cap Cana has stopped paying the penalties stipulated in the contracts and all the small investors got fucked for USD 134 million just in Green Village alone!! Welcome to Dominican Republic….

The reality is that Cap Cana is close to bankruptcy, a tremendous nightmare for all remaining property buyers incl the few who managed to receive a finished product. Only those wisely flipped their contracts during the Trump at Cap Cana hype escaped the free fall of Cap Cana. The rest are doomed to lose at least 45 – 80% of their investment. Today Green Village stands at a 100% lose and investors should move together in lawsuits against the management, the lies and Stewart Title. The way Stewart Title has handled Cap Cana deposits is a scandal never seen before and they must be held responsible to the last dime!

Sadly enough consumer protection in the Dominican Republic is basically non-existent due to the dysfunctional legal system and corrupt government. President Leonel has personally promoted developments from drug dealers and fraudsters where investors lost money – He doesn’t care about anybody but himself….

Cap Cana Dream Villas Left To Rot

The jewel in the crown of real-estate in the Dominican Republic, Cap Cana, with expensive luxury villas, World Class golf courses designed by Jack Nicklaus, and a marina for the jet set to moor their yachts; is not all it was hyped up to be, say disillusioned investors.

Just a few years ago, when real-estate mogul, Donald Trump was selling multimillion dollars lots on his high-end Farallon Estates development in Cap Cana, many private investors were buying into the dream and investing in what appeared to be a sure-fire win, backed by famous names, large banks and a massive media blitz…… read full article on Dominican Watchdog