Las Acacias III Adds 400 Apartments in Santo Domingo Este

Construction is underway on the second phase of Las Acacias III, a housing development in Santo Domingo Este that will add 400 apartments with financial backing exceeding RD$700 million.

Banco de Reservas, Fiduciaria Reservas and the Ministry of Housing and Buildings (MIVED) marked the start of the project with a groundbreaking ceremony on Saturday. The investment will be supported by the Paraíso Oriental III Low-Cost Housing Real Estate Trust, managed by Fiduciaria Reservas.

Project Targets Low- and Middle-Income Families

The new phase is part of a broader effort to expand access to homeownership for Dominican families, particularly households seeking affordable housing options. The project combines public-sector participation with financing from the country’s largest state-owned commercial bank.

Biviana Riveiro, executive vice president of Fiduciaria Reservas, represented Banreservas Executive President Leonardo Aguilera at the ceremony. She said the development builds on previous phases delivered in the same area and is intended to provide residents with an organized residential environment.

The development also reflects the role of real estate trusts in financing housing projects. In this case, the Paraíso Oriental III trust provides the financial structure supporting construction of the 400-unit phase.

Banreservas Offers Mortgage Financing

The apartments will be eligible for mortgage financing from Banreservas under special conditions designed to make home purchases more accessible to the families targeted by the project.

Mortgage financing can be a key component of affordable housing developments because it allows qualified buyers to spread the cost of a property over time rather than covering the full purchase price upfront. The terms available for Las Acacias III are intended to support that pathway to homeownership.

Riveiro said Banreservas and Fiduciaria Reservas will continue supporting housing initiatives promoted by the government through financial solutions aimed at expanding access to housing.

Public-Private Coordination

Housing and Buildings Minister Jean Luis Rodríguez highlighted the coordination between public and private-sector participants involved in expanding the country’s housing supply.

The project adds to the residential inventory in Santo Domingo Este, one of the municipalities that form part of the greater Santo Domingo metropolitan area. Its location places the development within the capital’s broader urban housing market, where demand for accessible residential units has supported continued construction.

Municipal authorities, Banreservas executives and representatives of its affiliated companies, along with officials from MIVED, attended the groundbreaking ceremony.

With construction now beginning, the second stage of Las Acacias III will expand the number of homes available through a development structured around low-cost housing financing and mortgage access. The 400 apartments will form part of the project’s continued expansion in Santo Domingo Este.