"We are convinced that Cabarete will be the next Caribbean hot destination," says Darren Law, president and CEO of NID Holdings. This area of the Dominican Republic is already known as a prime location for kite boarding, surfing, laser sailing, mountain biking and hiking.

Miami-based RAD Architecture has been pegged as the projects designer. Celia Domenech will handle the interior design while SWA Group will be the landscape architects.

The villas will range in size from 2,400 square feet to 5,000 square feet, with open floor plans and private terraces.

The five-star luxury resort will include 10-foot high ceilings, a floor-to-ceiling window wall, semi-private elevators, marble floors and Subzero appliances. The penthouses will have summer kitchens, a cabana bathroom and infinity edge plunge pools. The resort will also feature a 22,000 square foot spa and wellness center, tennis courts, conference center and shops. Outside the resort, there will be three large freshwater swimming pools.

Law says his company is not the only one looking to build in the area. "We are pleased that other luxury brands like Nikki Beach have announced they will also be joining us as neighbors," he says.

Part of the pull, is the government's promise to pour $1 billion to improve infrastructure along the coast.