NewsWhore
06-23-2008, 04:30 PM
The head office of the Agriculture Bank of the Dominican Republic (Bagricola) is to be put up for sale, according to the latest decision of the board of directors. Paino Abreu Pichardo told reporters from Hoy newspaper that not only the headquarters building, a huge1950s edifice between George Washington and Independencia Avenues, but many of the farms that have fallen into the bank's possession will go on the block as soon as President Fernandez authorizes the sale. Abreu Pichardo said that the funds generated from selling the building and the farms would go towards re-capitalizing the bank. According to Hoy, the bank's head office occupies about 18,000m2 of very prime real estate facing the Caribbean. This sale alone is expected to generate at least one billion pesos. Among the properties are 45,000 tareas (nearly 1000 hectares) in the east coast tourist areas. Where some of the farms have squatters, the bank will allow for the purchase of titles at very convenient terms. Some of these lands are in Cotui and Maimon.
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More... (http://www.dr1.com/index.html#3)