The branded residences (branded residencesas they are known in English) are becoming increasingly relevant in a tourist industry that seeks to offer new ways of investing and generating increasingly personalized experiences, a segment that is being very popular in the Dominican Republic.
These exclusive homes are the result of collaboration between real estate developers and important hotel companies.
The new residential projects from brands such as Ritz CarltonFour Seasons, St. Regis and Zemi Miches Punta Cana All Inclusive Resorts make these homes potential to increase the supply of real estate tourism Dominican, highlighted the technical vice minister of the Ministry of Tourism, Jacqueline Mora.
By participating yesterday in the second Forum Regarding Real Estate Tourism, the official indicated that it is estimated that this modality will mobilize up to 70 billion dollars in investments worldwide by 2031 through more than 1,600 projects, which represents a new opportunity to attract foreign currency at the local level.
Proof of this, the official highlighted, is that the country has an offer of 214,079 roomsof which 136,513 are non-hotel, which shows a significant expansion of the real estate tourism at the local level, which also raises security challenges and regulation.
“He branded residence It is a very important platform in USA many years ago, but here it is going to begin to grow significantly, and it attracts a very different tourist,” he said during the forum, organized by the Dominican Association of Real Estate Tourism Companies (Adeti).
This raises challenges to raise the tourist offerboth at a gastronomic and sporting level, so that they are strategic assets for the concept of welfareelegance and personalization offered in these residences, which are usually acquired by high-powered tourists purchase as your first or second home.
“We have to change the destiny profile or at least communicate it better. He who has a branded residence wants to go eat well, wants to go to a good place golf coursesmoke a good tobacco, drink a good rum,” said Mora.
Generate value
Delivering the opening speech of the forum, the Chief Financial Officer (CFO) of Puntacana Group, Francesca Rainieriemphasized that developing a luxury offer in the Dominican Republic requires a comprehensive transformation of the product, service, value chains, links with communities and even the way in which the company is projected. Dominican Republic to the rest of the world.
“A residence sold represents capital that remains linked to the destination, generate taxesdemand services and stimulate productive chains local throughout the year,” he said.
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However, he indicated that it is necessary to articulate public incentives and private that guarantee the stability of this modality in the country, in addition to applying instruments that have worked in other latitudes, such as the creation of special areas for the development of luxury offers with counterparts, the facilitation of visas and flights charter or investment programs in tourism infrastructure through public-private models.
This requires overcoming challengesas:
- The need for better public infrastructure and connectivity
- Raise the quality of human capital and service culture
- Ensure the environmental sustainability and the governance of the territory
- Generate a diversification of supply and manage its seasonality
“The transition requires brave decisions and coordinated. Smart tax incentives, investment in human capital, sustainable infrastructure and public private alliancesnon-optional pieces in this puzzle,” he pointed out.
