The executive director of the Dominican Association of Real Estate Tourism Companies (Adeti), Michael Lugo Risk, highlighted the climate of legal security and preservation of property rights contained in Law 108-05 of Real Estate Registryas an instrument of great importance for investments in the sector.
He stressed that the aforementioned Law sowed a climate of trust that has facilitated the growth of real estate tourism in the country, due to the fact that the promoters of real estate tourism projects in the last 15 years have developed on the basis of a registry system supported by models of management based on technology and modernity of processes.
When participating in a panel organized by the Real Estate Jurisdiction, Lugo Risk stated that the Law of Real Estate Registry structured an organizational scheme with bodies such as the National Directorate of Cadastral Measurements and its regional directorates, as well as the National Directorate of Title Registration, which resulted in greater legal certainty.
He added that this scheme resulted in greater legal security, as an essential factor for investment, allowing the country to continue being one of the main destinations for large hotel chains and the main real estate tourism developments.
In a press release, it was said that the director of Adeti urged to continue working together to strengthen all the real estate system, through legal instruments that guarantee a climate of legal security and transparency of investments, as a catalyst for the economic development and growth of the real estate tourism sector.
Adeti, as a business association, brings together the main real estate tourism companies in the country, such as Cana Rock, Destination City Cap Cana/Casa de Campo, Club Hemingway, Green One Playa Dorada, Grupo Puntacana, Grupo Valutini, Kaynoa, Metro Country Club , Playa Grande Golf & Ocean Club, Playa Nueva Romana, Puntarena, Rincón Bay, Tierra RD Partners (INICIA asset manager) and Tropicalia (Cisneros Organization).
