DR Market Pulse — August 24, 2026: CEPAL Sees Growth at Double the Regional Average, J.P. Morgan Doubles Down, and a $1.07B Financing Lands for a Manzanillo Power Plant

The Big Picture: CEPAL Puts Dominican Growth at Nearly Double the Region

The UN's Economic Commission for Latin America and the Caribbean (CEPAL) projected on August 21 that the Dominican economy will grow 4% in 2026, well above the 2.2% average it expects for Latin America and the Caribbean as a whole. That forecast lines up with the country's own activity data: the Monthly Indicator of Economic Activity (IMAE) rose 6.4% year-over-year in June, bringing cumulative growth for the first half of 2026 to 4.5%, while nominal GDP reached US$140.7 billion as of June — a 13.3% increase over year-end 2024 levels, according to the Central Bank.

The peso, meanwhile, kept extending its run. Having strengthened 8.1% against the dollar since the start of the year, the reference exchange rate closed August 21 at RD$58.07 (buy) / RD$58.36 (sell) — a further move from the RD$58.45/58.74 level seen just six days earlier — continuing a 2026 appreciation trend now well past the seven-month mark.

Tourism: Still on Pace for 12 Million

Cumulative arrivals through July reached 7.7 million visitors, up 7% year-over-year, keeping the Ministry of Tourism's target of surpassing 12 million visitors for the full year within reach. The pace has held steady for months now, with air and cruise arrivals both contributing to a stretch of consecutive monthly records dating back to early 2026.

Money & Investment: J.P. Morgan Doubles Down, Manzanillo Locks In $1.07 Billion

Two stories this week point to deepening confidence from global capital. On August 22, a J.P. Morgan delegation led by Carlos Aspillaga, the bank's executive director for the Latin American public sector, met with Central Bank governor Héctor Valdez Albizu and reaffirmed the bank's intention to expand its investments in the country. The bank cited June's 6.4% activity growth and July's inflation print — which came in at 5.47%, below analysts' expectations — as evidence the economy is "consolidating itself as one of the most resilient in the region." J.P. Morgan's own house forecasts now put 2026 GDP growth near 4.5% and see inflation moderating toward 4.2% by year-end.

Separately, financing closed on the Manzanillo LNG-to-power project, a $1.067 billion package — roughly $902.3 million in senior debt plus $165 million in letter-of-credit facilities — backing two combined-cycle thermal plants with a combined 840 megawatts of capacity. J.P. Morgan and Citi served as joint lead arrangers alongside development lenders IDB Invest and CAF, with Banco Popular Dominicano, Banreservas, Bladex, Bancolombia, Scotiabank, Inbursa, and Banco General rounding out the lending group. It's one of the largest project financings the Dominican energy sector has closed this year, and a signal that the same macro stability drawing tourism and real estate capital is pulling in infrastructure investment as well.

Development Watch: Entry-Level Bávaro Pre-Sales, Cap Cana's Branded Pipeline, Las Terrenas Infrastructure

• Punta Cana / Bávaro — A new 616-unit pre-sale complex broke ground in Bávaro under the CONFOTUR tax-incentive law, spread across 22 buildings of 28 units each. Pricing runs from $120,000 for a one-bedroom (63 m²) to $204,000 for a two-bedroom (118 m²), with the first phase slated for delivery in October 2026 and the second in October 2027 — a data point for buyers looking below the ultra-luxury end of the market.
• Cap Cana — The enclave's branded-residence buildout continues to deepen, with St. Regis Cap Cana now open and the previously announced Ritz-Carlton Cap Cana resort and residences still advancing through development — part of a broader trend of international hospitality brands treating the marina district as a long-term bet rather than a one-off project.
• Samaná / Las Terrenas — Blu Terrenas, one of the largest tourism developments underway in the northeast, is building out more than 3 million square meters along the main highway into roughly 2,500 tourist apartments, two Hilton-flagged hotels, and a 4,500-seat amphitheater, targeting completion by the end of 2028 (some beachfront units are already finished and occupied). In parallel, the Ministry of Tourism is reconstructing six main roads totaling 2.9 kilometers and renovating the Pueblo de los Pescadores waterfront district — public infrastructure spending aimed at supporting Las Terrenas's relaunch as a tourism destination.

What This Means for You

Buyers: the Bávaro pre-sale complex is a useful benchmark for what entry-level, CONFOTUR-qualified inventory costs right now — worth comparing against comparable product in Cap Cana or Las Terrenas before assuming luxury pricing is the only option on the east coast. Investors: J.P. Morgan's renewed commitment and the Manzanillo financing both point the same direction — global capital is underwriting the Dominican Republic's macro story well beyond tourism and real estate, which tends to reinforce the currency and infrastructure conditions that make property investment here work. Sellers: continued public investment in Las Terrenas's roads and waterfront, alongside Cap Cana's deepening brand roster, suggests demand support is broadening geographically rather than concentrating in any one corridor.

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*Meridian publishes this Market Pulse weekly. Explore verified listings across Punta Cana, Cap Cana, Santo Domingo, and Samaná at investwithmeridian.com.*