$21 Million Investment in Panama Mall

Group 4M, the developer of the 60-space Chitré Lake Village Center, expects that the first phase will be ready in April of 2010.

Monday, June 15, 2009


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Chains such as Grupo Rey, Arrocha pharmacies, McDonald's, Kentucky Fried Chicken, and the bank Banesco will be located in the shopping center. The project anticipates approximately 25,000 people per day in traffic.

In an article in Prensa.com, "Grupo 4M is also building a 240-unit housing project. 'We chose Chitré because Panama is already saturated and there is increasing development, investment, and affluence in the region of Herrera and Los Santos,' said Vice-president Abdiel Suira."

More on this topic

Grupo Rey Invests $21 Million in Panama

May 2009

Grupo Rey Holdings began the construction of a new supermarket in Chitré, the chain’s first one in the Azuero region.

With an investment of $21 million, the construction of 3 thousand square meters for the next Grupo Rey supermarket began in Chitré and it will generate over 100 direct jobs.

The Rey Groups expands in Panama

September 2008

Rey Holdings is planning to open three new stores in Panama in the next few years.

"We are talking of an investment of several million dollars to build each of the three new supermarkets," said Roberto Maduro, Marketing and Corporate Affairs manager, without giving details.

Panama: Grupo Rey Invests $2 Million

December 2009

The Group opened its 39th supermarket in the country, located in the city of David, in Chiriquí.

This store, the chain's first in the province, employs 68 people.

Roberto Maduro, marketing and corporate affairs chief, told Pa-digital.com.pa: "We will continue investing by enlarging and remodeling other stores located in Doleguita, Volcán and Concepción-Parque".

Grupo Rey Opens in Panama

December 2010

The opening of the new Rey Centennial Supermarket marks the beginning of the expansion plans for 2011.

The group has planned to open four supermarkets in Chitre, Versailles, 24 de Diciembre and La Chorrera and a new logistics center in Coquito, which will concentrate the operations of Agroindustrial Rey, one of the group´s companies.

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