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.

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. 

Costablanca – the Clubhouse a closer look.

For some inexplicable reason Luis Asilis granted us access to the Costablanca site.  Overall, access to the site allowed us to get 4 hours of video and hundreds of picture of an area typically blocked off by guards.  If you are an investor and would like to get more details regarding your investment we may have your property on video.  Please contact us.