IDB Invest has collaborated with Cisneros Real Estate to offer $134.6 million in financing for the development of Four Seasons Resort and Residences, part of the sustainable mixed-use resort Tropicalia in the Dominican Republic. The financing comprises $49 million from IDB Invest and an additional $85.6 million mobilized from local banks and international financial institutions. Expected to cost $212.4 million, the project aims to create over 2,000 jobs during construction, 400 jobs during operations, and foster an inclusive supply chain connecting with local entrepreneurs and farmers.

The Tropicalia project, situated in Miches, a burgeoning beach destination on the southern shores of Samaná Bay, plans to source up to 70% of produce and services locally, with over a third coming from micro-, small-, and medium-sized enterprises. The resort, operated by Four Seasons Hotels & Resorts, will include a 95-room hotel, 25 branded private residences, and various amenities.

James Scriven, CEO of IDB Invest, expressed confidence in the project’s potential to set a precedent for responsible tourism development in the Caribbean and beyond. Tropicalia aligns with Cisneros’ long-term commitment to socioeconomic sustainability in the Miches community, as evidenced by Fundación Tropicalia’s support for programs promoting education, gender equality, economic participation, cultural identity, and environmental awareness over the past 15 years.

As part of its development impact mandate, IDB Invest is providing technical assistance to increase women’s participation in economic activities and enhance their access to the labor market. The project is anticipated to contribute to several United Nations Sustainable Development Goals, including Decent Work and Economic Growth, Responsible Consumption and Production, and Partnerships for the Goals.