The company has completed four years of transformation in the Dominican Republic and is embarking on a new phase with its listing on the Panama Stock Exchange and the launch of a revolving debt programme in that country

PUNTA CANA, Dominican Republic, Aug. 27, 2026 /PRNewswire/ — Spanish group CLERHP has registered a 10-year revolving debt programme of up to USD 75 million on the Panama Stock Exchange, to support the financing of Larimar City & Resort, its strategic project in the Dominican Republic. The programme is backed by a collateral structure combining an issuance trust, which will manage cash flows linked to the North American market, with insurance covering the principal and interest. This structure has enabled the programme to obtain an A- (Pa) (pf) credit rating, classified as Investment Grade, from Moody’s Local Panama.

Since the launch of Larimar City & Resort, the company has advanced the development of the project site, currently valued at USD 528 million, has commenced construction and has achieved cumulative sales of USD 376 million as at 30 June 2026.

Four years of making a city a reality

Since 2022, Larimar City has completed extensive planning, technical projects, environmental studies and administrative procedures with various Dominican institutions.

In June 2022, it obtained the land-use planning approval for Higüey. The environmental process concluded in July 2024 with the granting of the Environmental Licence for Larimar City & Resort, which authorised its construction and operation following the relevant technical assessments. In October of that same year, the necessary permits to commence excavation work were granted, and the process continued in March 2025 with the granting of the Land Use Permit for La Otra Banda.

In addition to these developments, in 2026 an exemption from the tax base for the Asset Tax was granted for Phase I of Larimar City by the Ministry of Finance of the Dominican Republic.

From plans to construction

Once planning permission had been granted, construction began on the first buildings. Today, Prime Towers, Breeze Towers, Villas del Golf, Townhouses and other developments are taking shape alongside Larimar City’s main urban infrastructure, with phased handover scheduled to begin from late 2026.

Larimar’s development has also transformed CLERHP. Founded in 2011 and listed on the Spanish stock exchange since 2016, the company has evolved from its origins in engineering and structural analysis towards a comprehensive model as a property developer, encompassing engineering, architecture, construction, property development and marketing, as well as resident services.

Over the past four years, CLERHP has created more than 3,000 jobs in the Dominican Republic and plans to invest more than USD 4 billion. With new developments such as Marelago in Cap Cana, the company is now strengthening its presence in the Caribbean and marking a new chapter in its international expansion, with Panama as a new strategic market.

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SOURCE CLERHP