A group of Russian businessmen is investing 1500 million pesos in various construction projects in Sosúa: villas, apartments and new hotels.
The Mayor of Sosúa, Vladimir Céspedes, is very pleased to see these new investors in town.
The group has bought a large piece of land (valued at 15 million dollars) from General Antonio Imbert Barrera, where they are building the project known as 'Sosúa Ocean Village'.
This will consist of luxury villas, apartments, an hotel, a club house and a boulevard that meets up with the main road from Sosúa to Cabarete.
Legendary residents such as Joe Benjamin and Leopoldo Belga have also sold pieces of land to the Russians.
Several entrepreneurs have told Sosúa-News that they welcome these new residents and investors.
According to Wolfgang Schoenner of the Schnitzel Paradise, these are serious business people who will revitalise Sosúa.
The Mayor says that all the land had been advertised previously as being for sale, but nobody was buying until the Russians arrived.
The price of land has now risen from 30 USD to 100 USD per square metre.
Now there are lots of buyers and building land has become scarce.
Source: El Faro
