PUERTO RICO GRANTS APPROVAL FOR ESENCIA, ACTIVATING $2 BILLION+ INVESTMENT ON THE SOUTHWEST COAST

Reuben Brothers and Three Rules Capital to Break Ground on New Luxury Destination and Year-Round Community Featuring World-Class Hotels, Branded Residences and Remarkable Amenities for Wellness, Recreation, Culture and Leisure

Resilient, Solar-Powered Master Plan Dedicates 75% of 2,000 Acres to Green Space and Conservation

CABO ROJO, Puerto Rico, Aug. 11, 2026 /PRNewswire/ -- The development team of Reuben Brothers and Three Rules Capital today announced they have received approval to move forward with developing Esencia on Puerto Rico's southwest coast. Representing a $2 billion+ private investment, the project infuses world-class hotels with distinct collections of turn-key, fully-serviced residences – including Mandarin Oriental, and Rosewood Hotels & Resorts with additional partners to be announced this summer – within a thoughtfully designed master plan rooted in environmental stewardship, overlooking the Caribbean Sea.

In addition to setting a new precedent for sustainable development in the Caribbean, Esencia will also be a catalyst for economic growth in Puerto Rico. The project is projected to generate over 17,000 direct, indirect, and induced jobs and to drive more than $7 billion in long-term economic activity.

This approved master plan is the result of years of rigorous environmental analysis, multi-agency reviews, and extensive community consultation, and reflects Esencia's unwavering commitment to sustainable, responsible development. Audubon International has formally accepted the development to pursue Signature Platinum Certification, the organization's highest and rarest distinction. Once complete, Esencia is set to become the largest project of its kind to receive this certification, setting a model for future environmentally conscious luxury development.

Construction is poised to begin, with the first hotel, collection of residences, resilient infrastructure and new amenities for the local community breaking ground in phase one. Formal sales will commence in the fourth quarter of this year. Esencia is anticipated to welcome its first residents and guests in late 2029.

Set across more than 2,000 acres of extraordinary natural beauty and three miles of tranquil beaches, Esencia will offer 500 luxury hotel rooms and suites and 1,200 private residences with villas, homesites, and condominium residences available from approximately $2 million to over $20 million. The project has already generated significant interest from buyers, with nearly 70% of inquiries to date coming from Puerto Rico.

Esencia curates an unparalleled quality of life rooted in convenience, sense of community, and a profound connection to nature. Esencia features a seaside town center with diverse retail, dining, and entertainment; a bilingual K-12 private school; a comprehensive 24/7 medical and wellness center; an organic farm for fresh produce; and a private on-site airfield, among other conveniences for full-time living. Unrivaled recreational offerings include two beach clubs, over 20 miles of immersive nature trails, a Racquet and Field Club, a premier equestrian center, and two sustainably managed championship golf courses – one being a signature ocean-view course designed by renowned architect Rees Jones.

With a light footprint and deep respect for the land, more than 75% of Esencia will be dedicated to conservation, green space, active and passive recreation, and community. This includes restoring more than 33 acres of wetlands, rehabilitating coastal dunes and mangrove ecosystems and expanding bird habitats – protecting and enhancing the landscape for generations to come.

Says Jamie Reuben, Principal of Reuben Brothers:
"Our ambition has always been to create a destination that celebrates the island's extraordinary natural beauty and heritage, preserve it for the local community and strengthen its presence as one of the world's most compelling destinations. Working with like-minded partners we are collectively setting a new global standard for design excellence in sustainable resort living, while creating thousands of jobs and generating billions of dollars in long-term economic growth. We are proud to make this commitment to the island, its communities, and its future as a truly distinctive destination."

Says Will Bennett, CEO and Managing Partner of Three Rules Capital:
"This has been years in the making. As we look to the horizon, we always said we would only do this if we could do it right. Today's milestone is a vital step in keeping that promise – to the land, to the community and our neighbors, to our partners, to the families who will one day call this place home. Esencia is about creating something timeless. A place to come alive, to come home, to come together."

Says Roberto Ruiz Vargas, Chief Operating Officer and Partner of Three Rules Capital:
"Three years of methodical research, deep community listening and surgical planning have culminated in one of the most comprehensive environmental and planning reviews in Puerto Rico's history. With this milestone achieved, we now shift our focus to what we do best: building."

Guided by a master plan from Puerto Rico's Álvarez-Díaz & Villalón in collaboration with global landscape architecture firm EDSA, Esencia brings together a world-class design team to weave the built environment gently into the tropical landscape. Each of the hospitality brands is partnering with visionary architectural firms to craft distinct, site-sensitive sanctuaries that seamlessly connect indoor and outdoor coastal living. Previously announced, Mandarin Oriental, Puerto Rico is designed by Marcio Kogan's Studio MK27.

Esencia will be a self-reliant community powered entirely by renewables and supported by its own state-of-the-art infrastructure for water and energy. Operating independently from municipal systems, this resilient infrastructure is designed to cleanly sustain the property while generating surplus power to support Puerto Rico's local grid, directly benefitting the surrounding community. The closed-loop water-system includes stormwater capture and greywater recycling.

Says Pablo Massari, Principal of EDSA:
"Our vision for Esencia was to design a community and master plan that respects and restores the land. By limiting our built footprint, dedicating extensive space to conservation and ecosystem rehabilitation, and integrating sustainable and resilient infrastructure, we are creating a place where everyday life is woven seamlessly into the natural environment. Esencia will serve as a global model for harmonizing luxury development and stewardship."

Puerto Rico's southwest coast is beloved for its diverse natural landscape characterized by calm white sand beaches, bioluminescent bays, and renowned stargazing. At the heart is Cabo Rojo, a coastal community that is highly accessible, located within driving distance of three international airports including the Luis Muñoz Marin International Airport, the Mercedita International Airport in Ponce, and the Rafael Hernandez International Airport in Aguadilla. The air transfer from the San Juan metropolitan to Esencia's currently operating private airfield is 20 minutes. 

For more information about Esencia or to inquire about the residential offerings, please visit esenciapuertorico.com. 

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About Three Rules Capital
Three Rules Capital is a real estate investment and development firm focused on the creation of large-scale, luxury resort and residential communities. Led by partners Will Bennett, Roberto Ruiz Vargas and Harish Venkatesh, the team brings together extensive experience across development, finance and operations. Collectively, they have structured and delivered complex real estate projects across the US, Latin America, and Europe, including collaborations with leading hospitality brands.

The firm's debut project, Esencia, is a $2 billion+ master-planned destination on Puerto Rico's southwest coast. In partnership with Reuben Brothers Capital, Three Rules Capital acquired over 2,000 acres to create a community anchored by Mandarin Oriental and Rosewood Hotels & Resorts among other discerning world-class hospitality brands, featuring branded residences, wellness amenities, and extensive natural landscapes. From land acquisition to brand partnerships and vertical execution, Three Rules Capital leads every step of development with an unwavering commitment to excellence.

For more information visit www.threerulescapital.com

About Reuben Brothers
Reuben Brothers is a global leader in private equity, international real estate, hospitality, credit financing, sports and media, with world-class investments spanning the United Kingdom, Europe and the Americas. Its holdings include a distinguished collection of luxury hospitality and retail assets, including Cambridge House, Waldorf Astoria London – Admiralty Arch, The Twenty Two London and New York, The Surrey, A Corinthia Hotel, The Vineta in Palm Beach, Century Plaza in Los Angeles, Hotel La Palma in Capri and Burlington Arcade in Mayfair and Esencia Puerto Rico. The Group's wider interests include London Oxford Airport, Arena Racing Company, Newcastle United Football Club, and EDGLRD, the Miami based media and entertainment company. Its philanthropic arm, the Reuben Foundation, was established in 2002 and supports initiatives across the arts, healthcare and education around the world. Rooted in entrepreneurship and family values, Reuben Brothers operates with integrity and partners with organisations that share its long-term vision and commitment to excellence.

For more information visit www.reubenbrothers.com

Rendering Credit: Eleven Visualisation for Esencia
High-Res Images Linked Here

SOURCE Three Rules Capital; Reuben Brothers