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On the wire
Voyage EdgeISABELLA'S ISLAYNovember 14, 20262 min readAd-free

Aman Plants $1B+ Puerto Rico Flagship With Private Airport, Dual Golf Courses

Amantaru marks the brand's first Caribbean beachfront entry and third U.S. mainland-adjacent residential play.

Voyage Edge deskVoyage Edge · Huang GoodmanSource: Haute Living ↗
Edgar's SEC data profile {actuarial version}
In plain words

Aman's first Puerto Rico move bundles Act 60 tax arbitrage with aviation access, testing whether golf infrastructure can pull multigenerational family office capital into the brand's wellness-first model.

1,400-acre
Esencia master-planned community on the island's southwest coast
$4M-$7M
and Amanera villas at
$3M-$5M
—suggest sellout revenue north of
$800M
if Amantaru delivers

Aman announced Amantaru, a resort and branded residences development in Cabo Rojo, Puerto Rico, featuring private airport infrastructure, two golf courses, and a spa complex designed by Marwan Al-Sayed, the architect behind Amangiri. The property sits within the 1,400-acre Esencia master-planned community on the island's southwest coast. Aman did not disclose unit count, pricing floors, or a construction timeline, but comparable Aman residential developments in the U.S.—Amangiri suites at $4M-$7M and Amanera villas at $3M-$5M—suggest sellout revenue north of $800M if Amantaru delivers 150-200 residences at similar density.

The private airport component separates this from Aman's existing Caribbean footprint, which until now consisted of inland or hillside resorts without dedicated aviation access. Puerto Rico's Act 60 tax incentives, which offer 0% tax on capital gains for new residents and 4% corporate rates for export services, have driven $12B in real estate investment since 2019, according to Departamento de Desarrollo Económico y Comercio filings. Aman's entry follows Four Seasons' $350M Cayo Largo project announcement in 2024 and Rosewood's $280M Dorado Beach expansion in 2023, signaling sustained allocator confidence in Puerto Rico's luxury hospitality infrastructure despite ongoing grid instability concerns.

The dual golf courses position Amantaru as a multigenerational wealth hub rather than a pure wellness retreat, a shift for Aman, whose global portfolio tilts heavily toward spa-centric, low-density formats. Golf infrastructure raises operational complexity—irrigation alone consumes 300K-500K gallons daily per 18-hole course in tropical climates—but also extends average length of stay from Aman's typical 3.2 nights to 5-7 nights, per STR Global data on golf-anchored luxury resorts. The Esencia community already holds entitlements for marina development, suggesting Aman may layer yacht berths into the offering, replicating the Amanera playbook in the Dominican Republic, where 40% of residence buyers also moor vessels within 15 nautical miles.

Operators should monitor permit filings with Puerto Rico's Junta de Planificación by Q2 2026, which will clarify phasing, unit mix, and infrastructure timelines. The private airport detail implies either helipads or a 3,000-foot runway, the latter requiring Federal Aviation Administration Part 139 certification and raising project costs by $40M-$60M. Single-family offices allocating to Caribbean real estate should track Aman's presale velocity—historically, the brand moves 60%-80% of inventory before groundbreaking—as a proxy for demand depth among the 12,000 U.S. households with over $100M in net worth who now hold Puerto Rico residency under Act 60.

Aman operates 35 properties globally and has 18 projects in development or recently opened, including a New York Fifth Avenue hotel slated for 2027. Amantaru is the brand's second announcement in three months, following a $450M Maldives expansion in September. The Puerto Rico property will compete directly with Dorado Beach, which runs at 78% occupancy with an ADR of $1,850, and with private estate clusters in Palmas del Mar and Vieques, where land now trades at $2M-$4M per acre for oceanfront parcels with resort entitlements.

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Sources and method
  • Primary report: Haute Living, November 14, 2026.
  • Written with artificial intelligence from public sources and published without individual human review. Corrections: jenny@pops4.com.
amanbranded residencespuerto ricoprivate aviationgolf real estateact 60

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