Jack Nicklaus Golf Club - Cap Cana News

April 4, 2008

Burgeoning destination of Cap Cana in Dominican Republic becomes 10th Jack Nicklaus Golf Club

Associate Members will have access to 25 exclusive properties worldwide, in addition to The Bear’s Club and Muirfield Village Golf Club

NORTH PALM BEACH, Fla. and PUNTA CANA, DOMINICAN REPUBLIC — For the last few years, Cap Cana has been billed as the Caribbean’s “Next Great Destination.” With each week, it is becoming clear that perhaps it is time to drop the word “Next.” Cap Cana, which in less than two years has opened a world-ranked golf course, has set global property sales records, and this week is hosting a new addition to the Champions Tour, announced today that it has been selected by Jack Nicklaus as one of up to 25 destinations worldwide to share the unique distinction of being a Jack Nicklaus Golf Club.

The announcement during the opening round of the Cap Cana Championship was made by Jack Nicklaus and Dr. Ricardo Hazoury, President of Cap Cana’s board and Vice President of the Abrisa Group, one of the chief economic groups in the Dominican Republic.

Cap Cana becomes the 10th property to join the Jack Nicklaus Golf Club, which was created as an exclusive access and reciprocity program for a limited number of elite Jack Nicklaus Signature Golf Courses located in ideal markets around the world.

Never before has a club been branded with the Jack Nicklaus name, and as part of this unique license, the Jack Nicklaus Golf Club of Cap Cana will be able to offer up to 35 Associate Club Members reciprocity at other Jack Nicklaus Golf Clubs, as well as access to a Nicklaus Home established on each property for use by Jack Nicklaus, his family and other JNGC Members worldwide.

In addition to the reciprocity privileges and the use of the Nicklaus Home at each club, there are no membership fees or annual dues, no green fees and benefits include access to club amenities and tee times at all Jack Nicklaus Golf Club locations.

The Jack Nicklaus Golf Club of Cap Cana will be tied to Las Iguanas, the second of three Nicklaus Signature Golf Courses that will eventually play across the property’s 30,000 acres situated along more than five miles of coastline on the eastern tip of the Dominican Republic.

But with the availability of the Punta Espada course, one of Golf Digest’s 100 Greatest Courses Outside the United States and site of this week’s Cap Cana Championship, Jack Nicklaus Golf Club members will have immediate playing privileges. JNGC members will have complimentary access to a luxury villa at Cap Cana that will be completed in two months, and then a Nicklaus Home once Las Iguanas is completed.

In addition, Jack Nicklaus Golf Club of Cap Cana members will have access to Jack’s Florida and Ohio home courses, The Bear’s Club in Jupiter, Fla., and Muirfield Village Golf Club in Dublin, Ohio.

“We are delighted to have Cap Cana join the family of Jack Nicklaus Golf Clubs,” said Jack Nicklaus, who visited Cap Cana for the opening round of the Cap Cana Championship and for a site visit to work on his course design for Las Iquanas.

“The addition of Cap Cana gives us an existing facility with a tremendous worldwide reputation as we expand the Jack Nicklaus Golf Club. To have immediate access to courses like Punta Espada, The Bear’s Club, Muirfield Village, and Kinloch in New Zealand, gives us a wonderful start and foundation for our initial Club members. Cap Cana is a terrific destination, and I think our other Jack Nicklaus Golf Club members will find that out soon.”

Locations for future Jack Nicklaus Golf Clubs will encompass some of the world's most sought-after markets and destinations. Current JNGC sites include Tuscany; Scotland; New Zealand; Royal Island (Bahamas); St. Lucia and Anguilla in the Eastern Caribbean; the Patagonia region of Argentina; Vancouver Island in Canada; and Mount Holly, a private ski destination in Utah.

Cap Cana (www.capcana.com) is considered one of the most important tourism and real-estate projects in the Caribbean, with a master plan investment projected at $1.5 billion. The phase of the project will be developed over the next 12 to 15 years, and will comprise 8,680 of the 30,000 available acres and 3.5 miles of beachfront. The initial phase will have three 5-star hotels and five golf courses, three of them being Jack Nicklaus Signature Courses. Anchoring one end of the property is arguably the Caribbean’s largest, most complete and state-of-the-art marinas, and it is surrounded by shopping, residential, as well as fine and casual dining. Cap Cana’s initial phase will include a total of 5,000 residential units and 500 hotel rooms.

Among the many activities available to homeowners and visitors, golf is the driving influence. The Jack Nicklaus Signature Golf Course at Punta Espada Golf Club has eight holes that play to or along the ocean. Punta Espada made Golf Digest’s Top 100 Outside the U.S. just seven months after opening and the Robb Report called it “one of the most extraordinary golf courses” in its annual Best of The Best issue. Six months after officially opening, Punta Espada was name host venue to a new Champions Tour event, which teed off today and is being broadcast on The Golf Channel.

With a year-round tropical climate that averages 85 degrees and great ecological diversity, the Dominican Republic has become a burgeoning tourism and investment market. Cap Cana has taken the lead in that charge. Ideally located just 10 minutes from the Punta Cana International Airport, which offers direct flights from top U.S., Latin American and European cities, Cap Cana has as many as 19 communities or real-estate offerings, and Investment has been made even more attractive by the fact no property taxes are levied during the first 10 years of ownership.

The first full year after the official opening of Punta Espada in November of 2006, Cap Cana recorded close to $690 million in residential sales, including a one-day record of $350 million with the release of the Farallon Estates. In the first year of the Nicklaus course being opened, $655 million in real estate was sold. Cap Cana also features a Golden Bear Lodge, as well as Beach, Yacht, Golf and Sport clubs.

 

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