"The fact that our company have been able to secure these twogenerous loans to complete both Costa Blanca and Las Olas is verypositive news for real estate, especially in the DominicanRepublic. It allows other potential investors and buyers to feelmore confident in real estate again, while the economy is stillbuilding its way back," Luis Jose Asilis, CEO of Group Metro, tellsGlobeSt.com.

Las Olas is an oceanfront condominium complex near the LasAmericas International Airport. Group Metro is in the process ofexpanding the project. The money was arranged with Portland PrivateEquity, a private equity manager of the AIC Caribbean Fund.

"Las Olas construction is scheduled to reach the halfway markbefore the holidays, so the timing of this capital injectioncoincides perfectly with our need to purchase important componentssuch as fixtures and finishing elements," Asilis says. "This willallow us to capitalize on cost saving opportunities through bulkadvance purchasing of materials, which will be passed on to ourclients in the form of a higher quality end product."

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