{"id":9856,"date":"2023-10-16T12:00:53","date_gmt":"2023-10-16T12:00:53","guid":{"rendered":"https:\/\/dmklawyers.com\/?p=9856"},"modified":"2023-10-16T12:03:40","modified_gmt":"2023-10-16T12:03:40","slug":"construction-concentrated-in-apartment-towers-hotels-and-buildings","status":"publish","type":"post","link":"https:\/\/dmklawyers.com\/en\/construction-concentrated-in-apartment-towers-hotels-and-buildings\/","title":{"rendered":"Construction concentrated in apartment towers, hotels, and buildings"},"content":{"rendered":"\n<p>Goodbye to single-family&nbsp;homes. According to economic data from the National Statistics Office (ONE), the private&nbsp;sector&nbsp;has increased its investments&nbsp;in apartment blocks for first homes, long and short-term rentals, and holiday homes. By 2022, 72% of&nbsp;investments&nbsp;made were concentrated in&nbsp;apartment blocks.<strong><\/strong><\/p>\n\n\n\n<p>ONE\u2019s statistical yearbook highlights that last year a total of 1,560&nbsp;building permits were issued to the private sector, covering a work area of 8,143,972.8 square meters and an estimated value of 121,915.4 million pesos.<\/p>\n\n\n\n<p>Of the total invested, 87,873.5 million pesos were allocated to buildings located in Santo Domingo, the National District, Santiago and La Altagracia.<\/p>\n\n\n\n<p>In 2022, a total of\u00a08,426 projects were\u00a0carried out, 6,532 of which were apartment towers, the rest was divided between homes with more than two levels, combined constructions of\u00a0homes\u00a0and businesses, and buildings for tourist accommodation, among other types of constructions for the health, electrical, industrial, and commercial\u00a0sectors. <\/p>\n\n\n\n<p>Throughout 2022, the number of traditional family homes barely reached 595&nbsp;buildings.<\/p>\n\n\n\n<p><strong>Highest investment in nine years<\/strong><\/p>\n\n\n\n<p>In 2018, the private&nbsp;sector&nbsp;built six times more than in the previous year and 32% more than in 2022, according to the real estate performance of the last nine years.<\/p>\n\n\n\n<p>The trend in&nbsp;construction and investment&nbsp;for that period saw an exorbitant variation, with a 507.3% growth in the number of buildings&nbsp;nationwide, going from 2,048 in 2017 to 12,439 a year later.<\/p>\n\n\n\n<p>The highest investment of the private&nbsp;sector&nbsp;in real estate from 2014 to 2022 was 203,820.9 million pesos, reached in 2019. 87.7% of the total invested in those twelve months was made in the three&nbsp;provinces&nbsp;with the greatest economic dynamism.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>This investment in fact exceeds the total spent last year despite the fact that more work was carried out.<\/li><\/ul>\n\n\n\n<h1 class=\"wp-block-heading\">Number of private sector constructions 2014-2023<\/h1>\n\n\n\n<p><strong>Top 10&nbsp;provinces&nbsp;with the highest private&nbsp;investment<\/strong><\/p>\n\n\n\n<p>When adding the\u00a0investments\u00a0made in 2021 and 2022 to investments registered by ONE up to May 2023, the private\u00a0sector\u00a0has invested more in Santo Domingo than in the other\u00a0provinces.<\/p>\n\n\n\n<p>The second area with the highest flow of investments is the Distrito Nacional, followed by Santiago and La Altagracia, areas where&nbsp;volumes exceed 30,740.1 million pesos.<\/p>\n\n\n\n<p>In second place are El Seibo, Puerto Plata, and La Vega, with more than 3,698.3 million pesos.<\/p>\n\n\n\n<p>The list ends with San Pedro de Macor\u00eds,\u00a0Duarte, and La Romana, where money for private\u00a0construction\u00a0exceeded 2,442.7 million pesos.<\/p>\n\n\n\n<p><strong>Border area still lagging behind<\/strong><\/p>\n\n\n\n<p>Of the five\u00a0border provinces, only Montecristi, with 136 million pesos, and Dajab\u00f3n with 34 million, managed to attract\u00a0investment\u00a0in real estate. El\u00edas Pi\u00f1a, Independencia, and Pedernales did not even reach ten million in private\u00a0investment in construction in almost three years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Goodbye to single-family&nbsp;homes. According to economic data from the National Statistics Office (ONE), the private&nbsp;sector&nbsp;has increased its investments&nbsp;in apartment blocks for first homes, long and short-term rentals, and holiday homes. By 2022, 72% of&nbsp;investments&nbsp;made were concentrated in&nbsp;apartment blocks. ONE\u2019s statistical&#8230;<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[149],"tags":[],"class_list":["post-9856","post","type-post","status-publish","format-standard","hentry","category-investment-in-dr"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Construction concentrated in apartment towers, hotels, and buildings - 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