Reuben Brothers & Three Rules Capital Unveil $2B Esencia Development in Puerto Rico
Reuben Brothers & Three Rules Capital Unveil $2B Esencia Development in Puerto Rico
Reuben Brothers and Three Rules Capital Announce $2 Billion Luxury Development in Puerto Rico Reuben Brothers and Three Rules Capital have revealed plans for a $2 billion project in Puerto Rico named Esencia, which will feature a private airport and breathtaking views of the Caribbean Sea. The development, situated on the island's west coast, will encompass luxury hotel accommodations and exclusive residences operated by renowned hotel groups such as Aman, Mandarin Oriental, and Rosewood. Spanning over 2,000 acres, Esencia will also include two golf courses, an equestrian center, and a bilingual K-12 school, with the objective of creating numerous employment opportunities while conserving 77% of the land for open space. This ambitious initiative comes at a time when Puerto Rico is attracting affluent investors due to its appealing tax incentives, positioning the island as a top-tier destination for opulent tourism and investment opportunities.
Key Takeaways
- Reuben Brothers and Three Rules Capital plan to develop a $2 billion project in Puerto Rico, named Esencia, featuring a private airport and luxury accommodations.
- The project involves partnerships with Aman Group, Mandarin Oriental, and Rosewood Hotels & Resorts, and is funded by JPMorgan Chase.
- Esencia will cover over 2,000 acres, encompassing two golf courses, an equestrian center, and a bilingual K-12 school, with construction phases spanning multiple years.
- The development aims to preserve 77% of the land for open space, emphasizing recreational activities and conservation efforts.
- Puerto Rico's enticing tax incentives have resulted in a surge of upscale developments, catering to an expanding affluent clientele.
Analysis
The Esencia project, led by Reuben Brothers and Three Rules Capital with backing from JPMorgan Chase, highlights Puerto Rico's allure as a tax haven for luxury developments. This $2 billion undertaking, which includes a private airport and partnerships with upscale hoteliers, is poised to bolster local employment and tourism while allocating a significant portion of land for conservation purposes. However, the influx of wealthy residents may exacerbate socio-economic disparities. Over time, the success of Esencia could attract further investments, potentially transforming Puerto Rico's west coast into a focal point for upscale tourism and real estate, contingent upon sustainable development practices and equitable economic advantages.
Did You Know?
- Reuben Brothers: A British private investment firm owned by David and Simon Reuben, distinguished for their diverse investments in real estate, metals, and technology, with a substantial global presence and involvement in large-scale development projects.
- Three Rules Capital: A private equity firm specializing in strategic investments across various sectors, including real estate, finance, and technology, renowned for their focus on high-value projects and collaborations with other major investment entities.
- Aman Group: A luxury hotel group renowned for its exclusive resorts and hotels nestled in picturesque and secluded locations worldwide, synonymous with top-tier luxury, personalized service, and a strong emphasis on local culture and environment.