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

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

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.

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.

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!

Originally Posted by Robert

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

Cap Cana by ECONOMIST INTELLIGENCE UNIT

Part of the report…… Illiquid debt markets and a decrease in property sales have put Cap Cana and similar projects in the Caribbean region under severe strain.  Much of Cap Cana’s debt is secured by sales receivables and the value of the underlying property. Given the illiquid nature of the collateral and rising risk that construction will not mean targets, the project is facing a reduced value of receivables and worsening cash-flow problems. Meanwhile, the price of Cap Cana’s existing bonds has declined sharply in the market as investors have lost faith in the developer’s ability to pay.

It is highly doubtful that the project developers will be able to secure affordable financing in the current international environment with which to both replenish the trustee’s reserve fund and to meet the November 19th debt repayment date. They will have to hope for a capital infusion by new or its existing direct investors. Without this, the much-vaunted Cap Cana project—the Dominican tourism sector’s crowning glory—could become insolvent, and, as is feared by some local experts, could collapse entirely.

This will have negative effects not only for external creditors, but also for the local investors in the project, led by the Hazoury family, as well as for local banks, suppliers and contractors. The state-owned Banco de Reservas reportedly loaned the equivalent of US$147m to Cap Cana for mortgage credits, and other private banks may have also extended financing.

Bursting the bubble?

The same problems facing Cap Cana could well afflict other high-end property projects in the country, including the ongoing development of resorts in Punta Cana, the country’s most important tourist destination, as well as Roco Ki, another huge residential and vacation complex.

Some may now argue that Cap Cana was always overly ambitious and costly for a country like the Dominican Republic, a middle-income developing country with a GDP of US$46bn and a per capita income of US$4,900, but one with large swaths of poverty and infrastructure problems, such as a chronic energy crisis.

Some projects may have to be scaled back and others closed down, as the financial crisis persists and global recession advances. This will inflict collateral damage on the construction industry, employment and the country’s external accounts, as less foreign investment flows in. The fall-out from the global crisis, it appears, has started to rain down….. read the full report