CLERHP Opens a New International Stage with a USD 75 Million Debt Programme in Panama

The Spanish group registers a revolving debt programme of up to USD 75 million on the Panama securities market, with an Investment Grade A- rating from Moody's Local, strengthening the financing of Larimar City & Resort and consolidating its evolution as a full-service developer.

CLERHP begins a new stage in its international track record with the registration of a revolving debt programme of up to USD 75 million and a 10-year term on the Panama securities market.

The programme has a guarantee structure designed to reinforce the security of the operation, based on an issuance trust that will regulate the cash flows linked to the North American market and complemented by a principal and interest guarantee insurance. This structure has allowed the programme to obtain an Investment Grade A- (Pa) risk rating from Moody's Local in Panama.

This new milestone is a significant step for CLERHP and for the financing of Larimar City & Resort, the project that over the past four years has accompanied the company's transformation and its consolidation in the Dominican Republic.

Four years turning a vision into a city

When CLERHP unveiled Larimar City & Resort, the company set out an ambitious vision: to develop a new Smart City in Punta Cana capable of integrating housing, services, leisure, infrastructure and spaces designed to enhance the experience of its future residents.

Four years later, that vision has moved onto the ground.

The land on which Larimar City is being developed currently has an appraisal of USD 528 million, while cumulative sales reached USD 376 million as of 30 June 2026. At the same time, works are advancing and various residential developments and infrastructure are beginning to physically transform the site.

Excavations have given way to foundations, structures and buildings. Prime Towers, Breeze Towers, Villas del Golf and Townhouses, among other developments, are advancing simultaneously alongside the main urban infrastructure of Larimar City.

But behind this visible transformation lies a much broader process that has been essential to making the project possible.

A process that goes beyond the works

Developing a city on the scale of Larimar City requires much more than architectural planning. Over the past four years, CLERHP has undertaken an intensive administrative, technical, urban-planning and environmental process to advance the construction of this new urban destination.

One of the first major milestones came in June 2022, with the granting of the Higüey Land Use permit. From that moment began a long journey that included the preparation of technical and environmental studies, urban-planning projects, electrical designs, architectural plans, cadastral documentation and various assessment processes before Dominican public institutions.

During 2023 and 2024, Larimar City progressed through the different assessment phases of its environmental file. The process culminated in June 2024, when it passed the assessments of the Technical Evaluation Committee and the Validation Committee of the Ministry of Environment and Natural Resources.

A month later, in July 2024, the Ministry of Environment and Natural Resources granted the Environmental Licence for Larimar City & Resort, authorising its construction and operation following the corresponding technical and environmental assessment process.

In October 2024 came the authorisations needed to begin excavations, definitively bringing years of planning and processing onto the ground.

The process continued in March 2025, with the granting of the Land Use permit for La Otra Banda, within the development and planning of Larimar City.

Added to these advances, in 2026, is the granting of an exemption from the taxable base of the Asset Tax (ISA) for Phase I of Larimar City, awarded by the Ministry of Finance of the Dominican Republic.

Each of these milestones has been a necessary step in turning a vision of urban development into a reality under construction.

From the file to the ground

The evolution of Larimar City can now be seen directly on site.

Where a few years ago there were only plans, studies and projects, excavations, foundations, structures and buildings are now under way. The first towers are beginning to rise above the cliff and various residential projects are advancing simultaneously.

This process reflects the evolution of a project that has moved progressively from paper to the ground and from planning to execution.

The first deliveries are scheduled progressively from late 2026, while both the residential developments and the infrastructure that will shape Larimar City & Resort continue to advance.

Larimar City, a project that has also transformed CLERHP

The evolution of Larimar City has gone hand in hand with a profound business transformation of CLERHP.

Founded in 2011 and listed in Spain since 2016, the company began its journey mainly linked to engineering and structural calculation. International growth and, especially, the development of Larimar City have driven its evolution toward a full-service developer model, incorporating engineering, architecture, construction, real estate development and sales capabilities, as well as customer service and resident services management.

This transformation has allowed CLERHP to expand its presence and take on an increasingly relevant role in real estate development in the Dominican Republic.

The company expects to create more than 3,000 jobs and envisages investments of over USD 4 billion, while continuing to expand its presence in the Caribbean with new projects, including Marelago, in Cap Cana.

Panama: the beginning of a new stage

The registration of the revolving debt programme of up to USD 75 million on the Panama securities market now represents a new chapter in this evolution.

The operation allows CLERHP to strengthen its financing structure and continue supporting the development of Larimar City & Resort, while consolidating the company's presence in the region's financial markets.

Obtaining an Investment Grade A- rating from Moody's Local is also recognition of the structure of the operation and provides further backing for the company's financial strategy.

After four years focused on making Larimar City possible, CLERHP now faces a new stage marked by the consolidation of its full-service developer model and greater international reach.

Larimar City has transformed the land. And it has also transformed CLERHP.

The new debt programme in Panama is one more step in that process: a new tool to support the development of Larimar City & Resort and a sign of the evolution of a Spanish company that continues to expand its presence and growth opportunities in the Caribbean.

Read the full story in the media

This operation and CLERHP's new international stage have been covered by various media outlets.

Read the full story in EuropaPress and find out all the details of the new USD 75 million debt programme registered by CLERHP in Panama.