New strategy to aid Dominican Republic Real Estate valuations
The National Cadastre Agency (DGCN) is negotiating with two companies, a Spanish and another Israeli, to conduct the first mapping of the entire country’s real estate divisions.
DGCN director Bolivar Marte said the companies would be paid 25 million dollars for the project, that would have to be approved by Congress.
He said the mapping is of great importance, since the country’s real estate includes areas for farming, tourism, commercial and water sources, and in the course of two years all citizens will be able to know “how much the Dominican Republic is worth in each of its areas.”
The Cadastre director said the mapping would help solve the serious problem of land titling, in the sense that each property, regardless its size, will be in a cartographic system in which anyone will be able to see, thanks to satellite communications where a house, a building or a piece of land are located.
Marte said the companies that would conduct the mapping assure that it would be concluded in two years, with minimum errors, and includes an ad campaign in all the media to inform the population about the project.