by Brian Major
Last updated: 1:00 PM ET, Fri February 10, 2017
The Trump Organization is in "very preliminary" efforts to re-launch a long-stalled Dominican Republic luxury resort development, said Alan Garten, the Trump Organization's general counsel, in an Associated Press report.
Garten confirmed Eric Trump, the Trump Organization's executive vice president, was photographed touring a site at the master-planned Cap Cana complex in the Dominican Republic's Punta Cana resort district on February 2. He was accompanied by Ricardo and Fernando Hazoury, the company's original partners in the long-stalled "Trump Farallons" development.
First announced in 2007, the Trump Farallons was to include a Trump-branded hotel, condominiums and a golf course, but did not advance beyond the initial sale of Trump-branded vacant lots, AP reports.
While he described himself as the project's developer, Trump "invested no money," and the project stalled during the 2008 financial crisis. Disputes regarding licensing fees on empty lots that had already sold followed, and the project devolved into lawsuits by 2012.
In 2013 the Trump Organization and Cap Cana reached a confidential settlement after which Trump's name was absent from the development's marketing materials. Nevertheless, Garten said Trump "never canceled the underlying deal" and his settlement in the suit against Cap Cana was amicable. Additionally, "further talks occurred well before last November's U.S. election."
Other areas of the sprawling Cap Cana development have opened in recent years, including an Eden Roc hotel, boutique hotels under the AlSol Hotels and Resorts brand, two golf courses and a large marina. The Trump Farallons remain undeveloped.
The Trump Organization's renewed interest in the project indicates organization officials believe the activity does not violate Trump's pledge to avoid new foreign development deals.
Sheri Dillon, a Trump lawyer said last month "No new foreign deals will be made whatsoever during the duration of President Trump's presidency." Garten said the Dominican Republic deal "was never dead," and Trump listed the deal on his 2015 government financial disclosure.
For the latest travel news, updates and deals, subscribe to the daily TravelPulse newsletter.
Topics From This Article to Explore
