Trump Plans Puerto Rico Golf Complex

The Donald with Miss Puerto RicoIn an amazing show of confidence for project development in Puerto Rico, "The Donald", Mr Apprentice himself, announced last Friday a partnership to build a $600 million golf complex. The complex, which will be called The Trump International Golf Club Puerto Rico, will be developed with local construction company Empresas Diaz Inc.

The project will be located on a 1,000 acre plot joining up with the current Coco Beach Golf & Country Club, It will include include 500 residences. The first 56 villas, to be sold at prices starting at $1.4 million, will include access to a private jet, a yacht and limousine service.

Developers plan to improve the Coco Beach Golf & Country Club, and open a new clubhouse before March 17, when the 36-hole course hosts the Puerto Rico Open, a PGA Tour event.

Considering the severe blow the development industry is suffering through with the debacle at the Paseo del Caribe project, this is a huge announcement. It should help calm potential investors in other projects and if leveraged correctly enable local officials to close some additional deals.

Analysis

Wow, $1.4 million a pop, with private jet, yacht, and limousine service. We're definitely talking normal people here. We're also not talking about local people either, maybe a few, I guess. Unless these are the most expensive time shares, ever, we are talking second or third houses for these high rollers.

So whenever the spirit moves them, they are going to zip down to their Trump International Golf Club house for a few rounds of golf and some tanning on the beach. While they are here, they might want to eat, shop, and perhaps party a little. Where are they going to take care of these things? Well there meet these needs. Something tells me that if you pay $1.4 smackaroonies you don't shop at Outlet stores, so I guess the Belz Factory Outlet World won't do. As for fine dining, well with the exception of the resorts in the area (like the Gran Meliá Puerto Rico), to my knowledge, the north east of Puerto Rico is not known as a mecca of fine cuisine. Same goes for nightclubs as well.

So there are really only two conclusions. It's probable that a small cottage industry will emerge around this community to cater to the discretions of these new "residents", which I'm sure will happen on a small scale. But what is more probable, these new "residents" will have to truck themselves into San Juan to satisfy their interests.

OK, so they've gotten their fill of golf, sand and sun, and they jet off of the island to their regular fabulous lives. Now what? Who'll be taking care of these villas? I don't know, maybe this is something that people who live the lifestyle of the Rich and Famous already know about, but somebody has to keep these places in order. So maybe the project will provide some kind of service that keeps the place in order in expectation for the owners. Yeah, more menial jobs that no one wants. Can you hear the teenagers shout out across the land, "Oh please yes, I want a career in lawn maintenance." In many ways, this represents one of Puerto Rico's biggest challenges. As tourism grows in importance to the future economy of Puerto Rico, how can we sustain the Gross Domestic Product by replacing high paying manufacturing jobs with lower paying construction and tourism supporting jobs?

1 comments:

Gabriel

19 de febrero de 2008, 21:43
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dijo...

How does this.... thing relate to Trump's investments in Dominican Republic? I sense some overlap..