Banco De Reservas – Wants Their Money Back Too Group Fraud Metro!

Where did Banco De Reservas De La República Dominicana Money Go? 

Same place as the private investors money….to buses, other projects and broken down concrete abandoned villas!

 HERE IS THE BANK’S FORECLOSURE MAP

There was a time when getting loans, making news headlines, living large and reaping the benefits of silly real estate prices was par for the Costa Blanca Golf Course for Dr. Luis Asilis and Group Metro.   Now, local bank funding for Group Metro’s Real Estate Division is virtually non-existent and funding has to come from high-net-worth individuals outside of the Dominican Republic to finance his visions.    Group Metro’s real estate efforts continue to hinge on not paying back old investors, but continuing to sell the sizzle of new opportunities by taking money from new investors for new schemes.  During every boom and bust the Dominican government continues to turn a blind eye to the fraud and corruption that is synonymous with Group Metro and the Dominican Republic itself.   Inexplicably, the country and the company just move on to newer, wealthier suckers.  It used to be people from Canada, Europe and the United States now the Chinese are taking an interest in the country.  Strangely, almost all of those things have returned go look at some of the ridiculous prices being asked for Dominican real estate.  Prices in the Dominican Republic continue to make no shred of sense.   Please save your money invest it else where.

HERE IS AN ARTICLE FROM THE GOOD OLD DAYS.

Group MetroDominican Republic’s Leading Real Estate Company established in Juan Dolio, Receives a $20 Million Construction Loan for Costa Blanca Development from Banco De Reservas De La República Dominicana

JUAN DOLIO, Dominican Republic–(BUSINESS WIRE)–Group Metro, a leading real estate and transportation company in the Dominican Republic, recently received a $20 million construction loan from Banco de Reservas de La República Dominicana for Costa Blanca, an exclusive residential golf and beach community located in the Juan Dolio region. With construction well underway, this generous $20 million loan will be allocated to complete the Founder Residences and surrounding areas of Costa Blanca. www.costablanca.com.do

“The 52 exquisite Founder Residences are moving along at a rapid pace most recently reaching the rooflines”

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“The 52 exquisite Founder Residences are moving along at a rapid pace most recently reaching the rooflines,” stated Luis Jose Asilis, CEO of Group Metro. “The 18-hole Greg Norman Signature Golf Course is also progressing at a steady pace. The irrigation system has already been completed for the first nine holes and we expect them to be ready for grassing before the end of the year,” he added.

Spanning 580 acres along the coastline of Juan Dolio Beach, just twenty minutes from the Santo Domingo International Airport, Costa Blanca is a billion dollar development that will encompass luxurious residential homes, retail, a full-scale marina, an 18-hole Greg Norman Signature Golf Course, and other sporting components. The private golf clubhouse will feature the Hole 19 Bar, fine dining restaurant, cigar lounge, pro shop, and more.

The General Manager of Banreservas, Daniel Toribio, confirmed that by approving this loan their Board of Directors is committed to the growth of the real estate market in the Dominican Republic. More specifically in the tourist areas, and therefore they are pleased to partner with Group Metro, a respected company in the real estate and construction industries, to complete the first phase of Costa Blanca in Juan Dolio.

The Founder Residences have enjoyed tremendous success, with 45 of the 52 Villas already sold. Residents of the Founders are part of the exclusive Founder’s Club, which presents numerous benefits. The Founder’s Club package includes a luxurious 4,500 sq. ft. private villa with golf, bay or marina views, as well as two condominiums, a private boat slip in the marina, and membership to the prestigious golf club. Members will also enjoy VIP treatment in addition to various properties and onsite amenities.

About Group Metro

Group Metro has established a formidable international reputation throughout its four decades of experience in transportation, tourism and real estate. From its landmark property, Metro Country Club, to the oceanfront condominium developments of Costa del Sol, Marbella, Costa Blanca and Las Olas, Group Metro is the definitive company for real estate and tourism in the Dominican Republic. Led by CEO, Dr. Luis Jose Asilis, the company has played an integral role in putting the Dominican Republic on the map as a top Caribbean destination. Please visit www.groupmetro.comwww.metrocountry.com or www.costablanca.com.do.

Contacts

Group Metro
AMG PRWORKS
Sabrina Lacle, 305-856-8004 ext. 309
sabrina@amgwagency.com

The 52 exquisite Founder Residences: Cost a $143 Million?

Did Group Metro put a single dime of their own money into this legendary project?  The 52 exquisite Founder Residences are moving along at a rapid pace most recently reaching the rooflines,” stated Luis Jose Asilis, CEO of Group Metro. “The 18-hole Greg Norman Signature Golf Course is also progressing at a steady pace. The irrigation system has already been completed for the first nine holes and we expect them to be ready for grassing before the end of the year,” he added.  Businesswire indicates they received $20 million in financing in  2009.

 

 

 

Tens of Millions Owed to Investors

Tens of Millions Owed by Group Metro

Dominican Republic Developer Closes Almost $100 Million in Sales in One Day: Downward Economy? Not for Residential Resort Costa Blanca by Group Metro

“First, you look at the ‘least-disturbance approach’, which works perfectly with this development. Our duty is to build the best golf course we can, in the best way, with the best value. It’s not very often that we get the opportunity to build directly on the ocean. ”

May 7, 2008 — Last weekend, Costa Blanca – the billion-dollar project of renowned Dominican Republic developers Group Metro, held their launch event with two days of spectacular celebrations in Santo Domingo and Juan Dolio. The project was received by the Dominican Republic and international press with great enthusiasm and unquestionable success.

September 29, 2017 – Last weekend, Costa Blanca – the $50,000 project of RENOWNED Dominican Republic developers Group Metro, did’t hold another launch event with two days of spectacular celebrations.  Instead everyone one of the founder investors understands what makes Group Metro of renowned, they owe 40-70 investors $10’s of millions of dollars.

Where did all the money go? 

At one time it was thought that it went to pay for the following:

  • A 9 Hole golf course call Solares – Costablanca by Metro?
  • 52 villas (partially complete 44, 8 completed) a couple of outbuildings?
  • Road access from the highway?
  • Ground works?
  • Advertising/Sales and Marketing?
  • Bigger Parties?
  • ONLY GROUP METRO KNOWS FOR SURE!

Well now we know.  They didn’t make a dump.  They bought one in 2013!  During a press conference at the end of July 2013, entrepreneurs Luis José Asilis, a Dominican and president of the Metro Group, and Michael Lee-Chin, a Jamaican and president of Portland Holdings, presented themselves as the new buyers of Lajún.  The New Dump.

This was right around the time Luis José Asilis started saying Costablanca was a failure and as this time line indicates right around the time (11/23/2012)  Groupmetrosucks.com they were lining up financing for the venture.  This would certainly qualify as a Dominican brush-off.   DO YOU REALLY EVER WANT TO DO BUSINESS OR BY FROM GROUP METRO OR THIS MAN?

Add Two Towers…..Mix with water and Foreign Investors Money!

The only possible way to get 1,800 condominium units (two towers) on the Costablanca website is either with digital art, supplied by Groupmetro OR digital art.

Here is the before and after.  We can see how being a third-world developer is addictive.

Tower Image.  Land Image.  Completed Project.  $1Billion Please.

 

 

WHERE IS COSTABLANCA EXACTLY?

So many people have contacted us and requested the exact location of Costablanca.

We must apologize, we completely forgot to include this information.  Here are a couple of overhead shots and then a series of Google Maps which pinpoint the location. If you decide to show up, there will be guards at the gate.  It maybe hard to get to but the aerials really don’t do the site justice.  Of course, there are plenty of images on this site showing you exactly what is there.  All $142,000,0000 worth, less $139,000,0000 give or take $10 or $20 million dollars.   Anyway when it comes to accounting: Groupmetro isn’t interested, the Dominican Republic isn’t interested, why should we be?  Groupmetrosucks.com is a little bit more accurate, take a visit there too.

Fantastic Sales! Not really. Fantastic Failure.

An excerpt from the dr1.com website regarding sales.  Please refer to the the following for complete coverage of this old story.  http://dr1.com/realestate/news/dominican-developer-does-well/

It is articles like this that were carefully crafted that Groupmetro wants to continue to circulate, after all the glory days of 2006-2008 are well behind the company.  Salvaging its reputation will first come when they stop buying buses and ignoring their Costablanca investors!  Entry-guards to Costablanca may have assisted them in covering up the complete business failure of Costablanca, but our unfettered access to the site tells a different story.  In 2017 their unwavering desire to jigsaw a questionable reputation together appears to be failing.

Downward Economy? Not for Residential Resort Costa Blanca by Group Metro
(Miami, FL)-  Last weekend, Costa Blanca – the billion-dollar project of renowned Dominican Republic developers Group Metro, held their launch event with two days of spectacular celebrations in Santo Domingo and Juan Dolio. The project was received by the Dominican Republic and international press with great enthusiasm and unquestionable success.

Today the above statement is laughable.  Instead of

Costa Blanca, an impressive undertaking that will span across 300 acres of land and coastline in Juan Dolio, will encompass a mega-yacht marina, marina village with retail and commercial space, ten condominium towers, 52 private villas, a tennis village, clubhouses for both tennis and golf, a secured, private beach, and the first signature Greg Norman PGA golf course in the country. The highly-anticipated development will set new standards of luxury in the area, and will bring forth a modern spin on private, high-end communities. With top architects and designers at the helm, residents will find villas with open-air spacing to showcase their wrap-around pools, condos where each and every owner is afforded unobstructed water-front views, and an assurance that every aspect and step of the project is environmentally sound and positively affects the region.

The following day, the Founder’s Club – made up of 52 elite individuals who secured reservations as the very first buyers at Costa Blanca, gathered at the invitation-only Founder’s Club Reunion. These members had an early invitation to reserve a spectacular one-time package that included a private villa, two condominiums, a slip in the marina, golf membership for life, and private access to The Lighthouse Lounge and Clubhouse. The event took place onsite in beautiful outdoor tents and allowed the Founders to drink and relax while they surveyed the plots of land that would become the site for their private villas. In a unique and exciting format, Founders were able to choose the individual piece of land for their villa, as well as the condo units they desired, according to the order in which their reservation was received. With law firms onsite to advise and offer guidance, Costa Blanca closed almost $100 million dollars in sales on Saturday alone. Members of the Founder’s Club congratulated each other and toasted their new neighbors with champagne and cigars.

With the immense success of their opening weekend and almost $100 million dollars closed in sales, Costa Blanca has proven that the real-estate market is still thriving and that the Dominican Republic is one of today’s hottest investments.  How did it end up like this… this vision?

Wrecking Puerto Rico, Maria lashes Dominican Republic

Wrecking Puerto Rico, doesn’t mean much in the resort of Costablanca in the Dominican Republic!

Thankfully, Dr. Luis Asilis has almost made Costablanca bullet proof.   Hurricane Maria, that made landfall in Puerto Rico Wednesday and has left 3.5 million people on the island without power.  Maria, which was a category three storm lashed out at the Dominican Republic further to the west.  There has been some flooding in the capital.  But no further destruction tendencies.  Overall Santo Domingo weathered the Hurricane well with the island being lashed by heavy rains only.  Most of the activity and the eye of the storm was approximately 95 miles off the coast near Punta Cana.  Maria headed towards the Turks and Caicos Islands and gained additional strength.

Maria became the first Category 4 storm to direct-strike Puerto Rico since 1932 – the strongest storm in 80 years. The grid is down and the storm has been described the hurricane as “the most devastating storm in over a century.”  Apparently, the electricity grid so badly that it could take years to restore power; anywhere from 4 months to 48 months.

 

Costablanca received heavy winds and rain, however, it managed to escape additional damage.   Groupmetro’s executives appear to be relieved at how well the resort withstood potential catastrophe.   Some wandering local resident of Juan Dolio indicated that, “God is with us, to be true and we are stronger than any hurricane. Together we will rise again and again.”  Sounds like he was specifically discussing the renowned golf course at Costablanca/White Sands.  

Storm Areas within Santo Domingo show flooding damage along with other minor damage to personal property.   

 

 

Tennis Court? What tennis court?

The Chris Evert Tennis Center at Opening Costa Blanca

This article originated on dr1.com under the following search link: http://dr1.com/realestate/news/tag/grupo-metro/


Costa Blanca, the highly anticipated oceanfront development by Group Metro, one of the largest real estate development corporations in the Dominican Republic, has announced expansion plans to their billion dollar project.  The project will now include a Chris Evert Tennis Center to compliment the championship Greg Norman Signature Golf Course.  In addition, the development includes a world class marina, a marina village, oceanfront condominiums, villas, a private beach and the exclusive founders club.  Group Metro has already achieved tremendous success with the launching of its founders club, which produced almost US$100 million in sales on the first day of ground breaking.

The facilities will house a professional tennis center encompassed by eight tennis courts, and one tournament stadium-style court, as well as pro-shop. Evert explains why she chose Costa Blanca and Group Metro, “Costa Blanca is going to be a wonderful destination in the Dominican Republic.  I look forward to working with the Development team of Group Metro to help facilitate not only a world class golfing facility, but my first Tennis Center in the Caribbean that will feature superior facilities but also unparalleled service for our members and guests.”

Due to the continued demand at Costa Blanca, the developers are now enhancing the master plan, designed by EDSA, to offer a new selection of additional products.  The updated plan now presents buyers with uniquely diverse selection of residences, including half-acre private estate lots for luxury homes of up to 15,000 square feet (1,400 m2).  From modern, sleek condos and private villas to a home directly on the Caribbean sea, Costa Blanca will provide an assortment of sizes and styles to suit every taste.

Juan Dolio, only thirty minutes from the country’s capital, has recently seen an influx of activity with over 10 new projects this year.  The region is quickly becoming the Caribbean’s latest “hot spot” and Costa Blanca is leading the pack as the area’s most prestigious property.

Group Metro has established a formidable international reputation through-out its four decades of experience in both real estate and transportation.  From their landmark property, Metro Country Club, to their oceanfront condominium developments of Costa del Sol, Marbella and Las Olas, Group Metro has become the definitive business for real estate and tourism in the Dominican Republic.  Lead by their visionary CEO, Dr. Luis Jose Asilis, the company has played an integral role in putting the Dominican Republic on the map as a top Caribbean destination.  Group Metro will be one of the first developers in the Dominican Republic to ever provide internal financing to buyers.

Here is what the tennis center actually looks like in 2017.

I love the qualifier: due to the continued demand at Costa Blanca, the developers are now enhancing the master plan, designed by EDSA, to offer a new selection of additional products.   Those products are apparently old bits of concrete, tall grass an inexplicable blue-window-glass-1970’s-style clubhut (nobody with sense would consider this a clubhouse…clubhut, clubhovel).

I like to think that this broken street or cart path must lead to the tennis center. 

Hey! A painted ceiling is very important for a Good Christmas Party…..Yep, a picture is worth 1,000 words.

After wishing the guards at Costablanca good day, we wandered over to Metro Country Club.  Groupmetro was having their actual Christmas party that night.  Even the ceiling was being painted; nothing is too good for Luis’s guests.   (Hmmm now an investor that’s another thing altogether) Luis indicated that roughly 90 guests would be attending, nope not me.   Lovely, maybe next year.      I’m not sure how you get an invite (we only gave them $678,000 U.S.), but I did get video and pictures.  I know the ceiling, you wouldn’t have believed me otherwise!