IDB Invest Supports Four Seasons Resort & Residences at Tropicalia to Promote Sustainable Tourism in the Dominican Republic
- Financial backing helps to catalyze socioeconomic inclusion in emerging destination and expands responsible development in the Caribbean and Latin America.
IDB Invest has partnered with Cisneros Real Estate to provide $134.6 million in financing to Four Seasons Resort and Residences, part of Tropicalia, a sustainable mixed-use resort under development in the Dominican Republic. The financing consists of $49 million from IDB Invest complemented by $85.6 million mobilized from local banks and international financial institutions.
The $212.4 million mixed-use complex is expected to create more than 2,000 jobs during construction, 400 jobs during operations and an inclusive supply chain that will connect with dozens of local entrepreneurs and farmers. Up to 70% of produce and services will be sourced in the country, with more than a third coming from local micro, small and medium-sized enterprises, contributing to a circular economy and the region’s prosperity.
IDB Invest's financing package includes the mobilization of $85.6 million from local and regional banks, including Popular Bank, Banco Lopez de Haro and Banco BDI; and international financial institutions, including DEG, ILX Management, Cifi and Stratus through a mezzanine and senior loan structure.
Tropicalia is located in Miches, an emerging beach destination distinguished by its unique ecological features on the southern shores of the Samaná Bay, just 80 kilometers (50 miles) west of Punta Cana. The mixed-use complex, to be operated by Four Seasons Hotels & Resorts, will include a 95-room hotel, 25-branded private residences and a host of related amenities.
With a focus on socioeconomic inclusion and sustainable development practices, Tropicalia implements environmental and social management systems that guide the resort’s design, construction and operation, from biodiversity to waste and water management, air quality and greenhouse gas emissions. The project’s non-profit organization, Fundación Tropicalia, has dedicated more than a decade to the region’s well-being through an array of educational, socioeconomic and community programs through innovative projects in agriculture, gender equality, education, environment, entrepreneurship and microfinance.
"We believe this sustainable mixed-use resort reflects a unique value proposition for the expansion of responsible low-density tourism in the Dominican Republic. Our aspiration is that its high development standards anchored by strong sustainability principles could have a demonstrative effect in serving as a model for responsible tourism development in the Caribbean and beyond," said James Scriven, CEO of IDB Invest.
Tropicalia builds upon the legacy of Cisneros’ long-term commitment and development approach, supporting the socioeconomic sustainability of the community of Miches and surrounding region. "Over the past 15 years, Fundación Tropicalia has sponsored a broad range of regional programs that promote education, gender equality, economic participation, cultural identity and environmental awareness,” Adriana Cisneros, CEO of Cisneros said. “One of our flagship programs “Soy niña, soy importante,” strives to empower young at-risk girls by providing the tools to stave off early pregnancy, gender-based violence and low self-esteem, fomenting gender equality and inclusion from an early age in the region.”
As part of its development impact mandate, IDB Invest is providing technical assistance to this program to increase women’s participation in economic activities and expand their access to the labor market.
This deal demonstrates IDB Invest’s support of transformative sustainable greenfield tourism projects that provide a catalyzing effect for emerging destination development in the Caribbean and Latin America.
The operation is expected to contribute to the following United Nations Sustainable Development Goals (SDGs): Decent Work and Economic Growth (SDG 8), Responsible Consumption and Production (SDG 12) and Partnerships for the Goals (SDG 17).
About IDB Invest
IDB Invest, a member of the Inter-American Development Bank Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $16.3 billion in assets under management and 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.
Tropicalia is owned by Cisneros Real Estate, the development arm of Cisneros, a diversified business group with nearly 100 years of history in media, real estate, consumer products and social leadership. The private group, led by Adriana Cisneros, has extensive business and cultural investments in the United States, Latin America and the Caribbean. Cisneros Real Estate develops strategic, innovative and responsible tourism projects. With headquarters in Miami, Cisneros Real Estate's long-view development portfolio is built on relationships with partners that share similar values and the integration of the needs and interests of the communities and environments that we impact. For more information, please visit www.cisneros.com. Tropicalia is a sustainable luxury resort development by Cisneros Real Estate that offers sophisticated architecture in a breathtaking site of diverse natural beauty in the northeastern Dominican Republic. Four Seasons Resort Dominican Republic at Tropicalia is designed to serve as a model of sustainable luxury tourism in the Caribbean and beyond. For more information, please visit www.tropicalia.com and follow on Instagram, Facebook and X.