The Grand Medina Beach and Spa Resorts is a family-oriented, all-inclusive, affordable 5-star resort catering to the needs of the Muslim community. Located in the Dominican Republic, the completed development will contain an estimated 2,500 units and resides on approximately 1 million square meters (~250 acres) of undisturbed, private oceanfront with an extensive 2.5 kilometres of white sand beach. Amenities include a low-rise hotel complex, private “Club” condos, villas, restaurants, pools, athletics center, a private women’s club, spa, and prayer facilities.
The developer of the project is The Everest Group of Companies (“Everest”), a successful Canadian based land development and asset management group. Everest was founded in 2002 by CEO and President Zafir Rashid currently and has approximately $300 million (CAD) of real estate under management. Everest specializes in multi-family real estate, student residences, commercial/retail mixed-use communities, and hospitality.
The net proceeds of the offering will be used to acquire the lands and finance the construction and development of Phase 1 of the Grand Medina Beach and Spa Resorts, which includes approximately 600 units, plus amenities and common space.
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