Industry News

Ritz-Carlton to Establish Resort & Residences in

Cap Cana, Dominican Republic

Santo Domingo, Dominican Republic, Sept. 17, 2007 - Cap Cana, a luxury resort community, will partner with The Ritz-Carlton Hotel Company, L.L.C., to develop a world-class resort, The Ritz-Carlton, Cap Cana, and a residential venture to be called the Residences at The Ritz-Carlton, Cap Cana. It is likely that the residences will be eligible for a condo hotel rental program.

The 220-room resort will complement Cap Cana's existing developments and will feature a range of lavish amenities, including a 16,000 square-foot spa, a private beach club, and five restaurants and lounges.

The Ritz-Carlton, Cap Cana and the 194-privately owned beachfront and golf Residences at The Ritz-Carlton, Cap Cana are scheduled to open in early 2010 and are part of a two-phase $1 billion project, (including real estate sales and construction).

The mixed-use property will be located on a stunning two-mile stretch of Juanillo beach overlooking the Caribbean Sea. The resort will include 8,000 square feet of meeting space, including a 5,800 square-foot ballroom.

Already under development is Alta Bella Fishing Village at Cap Cana, which includes a five-star condo hotel. Units are currently available at pre-construction prices.

About Cap Cana

Located on the Eastern tip of the Dominican Republic, and just five minutes away from the Punta Cana International Airport, Cap Cana is called "The World's Next Great Destination."

It will be developed over a period of 12-15 years and spans 8,680 acres of a total of over 30,000 acres with more than three miles of white powder sand beaches. Cap Cana will be an immense, fully-integrated luxury community.

At the completion of the master plan, it will feature more that 5,000 residential units and at least four luxury hotels. Also included are six golf courses, three of them Jack Nicklaus Signature Golf Courses (the first, Punta Espada, opened in November 2006 and the second, Las Iguanas, under construction), and two of them Trump International Golf Courses.

Cap Cana will also have the most state-of-the-art marina in the Caribbean, featuring over 1,000 slips for mega-yachts up to 200 feet. The first phase of the marina was inaugurated in April 2007.

Additional services and amenities include elegant boutiques, fine dining restaurants, world class spas, exclusive membership clubs, water sports, polo, and horseback riding facilities, to name a few.

Cap Cana is part of The Abrisa Group, one of the main economic and diverse holding companies in the Dominican Republic. For the development of the project, Cap Cana has brought together an elite and experienced team of professionals which include Nicklaus Design, Coastal Systems International, Inc., The Trump Organization, Weitz Golf International, GVA, Troon Golf, The Frontier Construction, EDSA, WATG, and Stewart Title among others.