Major League Baseball legend and soon-to-be Minnesota Timberwolves co-owner Alex Rodriguez is planning a major real estate investment in the Dominican Republic, Caribbean Journal has learned.
Rodriguez is leading an investment that will pour approximately $1 billion into the Río San Juan area of the country, which is located on the north coast of the country.
The project envisions 577 “ultra-luxe” units in teh area, according to Tourism Minister David Collado, who joined Rodriguez to confirm the announcement in Santo Domingo.
It will be a mix of both villas and condominium units.
Rodriguez is of Dominican heritage; both his parents are from the Dominican Republic, although he grew up in New York City and later moved to Miami.
Collado said the project, the details of which are still unclear, is a “bet that strengthens our leadership in elite tourism.”
In his post-baseball career, Rodriguez has embarked on a number of investments across multiple sectors.
“From tourism, we keep attracting investment and generating development,” Collado said. “The Dominican Republic is in vogue.”
Rodriguez’s first real estate projects actually came during his playing career, when he founded Newport Property Construction and then co-founded Monumental Capital Management with partner Ramon Corona.
That is along with numerous investments in areas like Miami such as the Fairchild Coconut Grove development and the 30-story Grand Station project.
