Real Estate values and sales continue strong at Dorado Beach Resort. We have sold out all the readily available inventory of Developer Units. In the first quarter of 2019, over $29.0 million in sales have been closed, among these, an estate home at East Beach, Ritz-Carlton Reserve Residences for $10,000,000. In addition, $66.45 million worth of sales were contracted including two East Beach Residences for $11.0 and $11.5 million, respectively, and six out of the eight last West Beach, Ritz Carlton Residences with prices in the range of $4.3 to $8.6 million.
“The Dorado Beach Resort market is hot! The current demand exceeds the inventory of new units as well as existing properties available for sale,” said Jaime Morgan-Stubbe, Managing Director of Real Estate for DBR Development, the Resort’s developer.
In order to satisfy the market’s demand for new products, we are pleased to announce that DBR Development is gearing up to start a new phase at the exclusive East Beach, Ritz-Carlton Reserve Residences and two new developments. One of the new projects is located at the famous West Point with spectacular ocean front and breathtaking sunset views. The first phase will consist of two Ritz-Carlton Reserve branded buildings with four spacious ultra-lux residences per building, underground garage and elevators with direct access to each residence.
The second new development is being built in the area of the Sugarcane Golf Course surrounded by fairways and expanded lakes. The first phase consists of thirty-five one story and two-story single-family residences with modern contemporary design and finishes. Construction will start by late summer. Prices will start in the range of $2.2 million
Resale Market in Dorado Beach Continues Strong
Our resale division, Dorado Beach Realty, has also been successful to date in sales at communities such as Dorado Beach East, Plantation Village Resort Residences and the Ritz-Carlton Reserve Branded Residences at East Beach and West Beach. DB Realty has closed $21.5 million in properties throughout the Resort in the first few months of the year and has another $13.1 million in properties listed for resale.