One Square Meter: Ocoa Bay, Dominican Republic
JOHN DEFTERIOS, EMERGING MARKETS EDITOR: Calling itself the Caribbean's first ever vineyard resort and real estate development, this is the Dominican Republic's take on enotourism only 90 minutes drive from the capital Santa Domingo. It sits on pristine land of 2 million square meters. (inaudible) Bay's promise, spectacular coastal views, a Mediterranean climate, and if you want a piece of it you can purchase a spot with an exclusive private vineyard in front of your villa. The mastermind behind all of this is Dominican architect Gabriel Acevedo who was inspired by history 500 years ago, America's first wines were produced here at Ocoa Bay (ph).</s>GABRIEL ACEVEDO, RESORT DEVELOPER (through translator): We were labeled as crazy, probably because I wasn't agronomist, but an architect, that we even dared to plant 10,000 square meters of grape vines.</s>DEFTERIOS: Sustainability is a key factor in Ocoa Bay's (ph) business portfolio, one he says is a gamechanger for the Dominican Republic.</s>ACEVEDEO (through translator): Ocoa Bay (ph) has three pillars. One is the production of high quality wine and fruit cultivation. The others are the hotels and the real estate sectors.</s>DEFTERIOS: Villas start off at a price of $135 per square meter. Developers are relying on the land's unique dry climate, which receives on average of 600 millimeters of rainfall per year to sustain the country's first wine producing vineyard, intriguing buyers and tourists alike. The construction of the first 30 ecological and vineyard villas are scheduled to begin in December. Out of these, 33 percent of the villas are pre-sold. While high-end real estate companies like Christies are already adding Ocoa Bay (ph to their exclusive listing.</s>UNIDENTIFIED MALE: You don't have anywhere in the world the possibility to live inside a vineyard and to own your own private vineyard. So you will be able to produce your own wine. You have several options to do what you want to do with the grape that you're going to grow in the garden.</s>DEFTERIOS: In just over two years, Ocoa Bay (ph) has had five successful wine harvests, vines produced are low, but quality is high. The price per bottle starts at $15, but in the bar high for still young wine producing market.</s>ACEVEDO (through translator): It's the new Napa Valley of the Caribbean, the new Bordeaux or Rioja, a unique and new destination in the Caribbean.</s>DEFTERIOS: John Defterios, CNN.