SUBSIDIARY NAME
TILANGA CARIBBEAN RESORT AND SPA PROJECT
COUNTRY
DOMINICAN
REPUBLIC
SECTOR/ INDUSTRY
REAL ESTATE
OWNERSHIP %
70% IIB-DG
ACQUISITION DATE
JUNE 23, 2022
ACQUISITION VALUATION
133.81 MILLION
TOTAL ASSET VALUATION
1.3381 BILLION
REAL ESTATE
Tilanga Caribbean Resort And Spa Project acquired on June 23, 2022 for Construction/development of a 5 star luxury resort on the Samana Peninsula in the Dominican Republic.
The property/project development site contains 3 individual land plots totaling 108.726 acres with 1800 meters of beachfront. There are 20 luxury villas in the project on 37.065 acres all which are to be sold. An additional631uxury 4 bedroom to 6 bedroom suites will be developed for tourists and guests. There will also be a luxury marine spa & pool on 4.94 acres along with various luxury resort amenities. This planned project will also feature 2000 solar panels which will generate all the project electricity and about 80% of the project necessary hot water. The project will obtain Leed certification by the USA Green Building Council and will also be labeled Ecolabel Europpen, the official European hotel label and additionally labeled Green Globe which is an internationa l label specific to the tourism industry.