Success and Expansion: Larimar City and Resort Secures Powerful Financing for its Development in the Dominican Republic

We bring good news with the announcement from Felipe Moreno, a key figure in the development of major projects, regarding the success in securing financing for Larimar City and Resort in the Dominican Republic. This milestone solidifies an ambitious project that has been underway for two and a half years.

💰 The Financing that Drives Larimar

The project has secured significant financial backing:

• 15 million dollars for its Dominican subsidiary from Banco Mercantil.
• A 75-million-dollar debt program that will commence starting in January on the Panama Stock Exchange with Latinex.

The company expresses gratitude for the trust of its more than 2,000 shareholders investors on the Madrid Stock Exchange and others who have placed their confidence in the purchase of real estate assets in the first and second phases. Larimar is expected to become a reality within the next two years.

Why the Dominican Republic? An Investment Hotspot

The choice of the Dominican Republic is based on its favorable investment climate:

• It is a country that is very welcoming to international investment, especially Spanish investment.
• It offers many legal guarantees and is a stable democracy under the leadership of President Luis Abinader and his ministers, who have created a very favorable investment climate.
• This environment motivated the company to move from providing engineering and construction services to third parties, to starting the development of its own real estate promotion.

🏗️ Project Progress and Sales Market

Currently, the project is in the phase of creating the urban planning and constructing the first towers of the prime residential area. Construction is already rising more than four levels on the first two towers. This development will not stop over the next 12 years, covering the six different phases of the project.

The business model has been validated thanks to sales success:

• More than the first phase has already been sold, which translates into good figures for the company.

• The main buyer market is the United States, followed by Canada and Spain.

Spain, in particular, is gaining significant positions in the diversification of assets by having an international presence and exposure to real estate risk in an emerging but stable country. The Dominican Republic is a leader in the entire region, not just the Caribbean but also Central America, in terms of growth rates. The country is expected to grow at 4.6% next year, which provides a “tailwind” for all international developers present in the country.

📈 The Impact for Shareholders and Clients

For shareholders, this achievement signifies two fundamental things:

1- Validating that Larimar is not a dream, but a reality. Although the current share price (exceeding €4 or €4.20) may not yet reflect the hidden value, interest is expected to grow in the coming months.

2- The product sells and sells better and better. The key is that sales are keeping pace with construction capacity, a crucial factor for a developer.  

Larimar City and Resort is considered a “before and after” not only for the company but also as a beacon for the internationalization of Spanish companies and for replicating successful models.