The Puntarena Ocean Village project will be developed in the Buenaventura community in Coclé, a province of central Panama on the nation's southern coast. The first stage of construction work is expected to finish by March 2012.
In an interview with Americaeconomia.com Buenaventura's Tourism Development Director, Fernando Duque, indicated that, "the proposal will add around five hectares to the the development where residential units of between 95 and 200 m2 will be built in four stages. All will have sheltered parking and some feature a balcony or garden".
The growth experienced in real estate development in the Pacific coast of Panama has not been tightly regulated.
Capital.com.pa reports: "... at the most recent construction fair, Capac Expo 2013 there were presentations of 36 projects in the Pacific area corresponding to the category of second homes or country housing units with access to beaches." Of these projects, 80% are located between Punta Chame and San Carlos and they don't include hotels.
An environmental impact study has been presented for the construction and operation of a condominium containing 185 residential lots in the residential complex Nativa Resort in the Pacific of Costa Rica.
The company Estancias de Nativa Limitada submitted to the Environmental Technical Secretariat of Costa Rica (Setena) an Environmental Impact Study to build the second phase of NATIVA Resort, a luxury residential complex in a beach resort area 45 minutes from San José, located in Tarcoles, province of Puntarenas.
Billed as a "private city", Paseo Cayalá is the first of several complete urban projects to be developed outside of the capital of Guatemala.
The complex located about seven miles from the capital and is the first of several to be developed which include, in the same place, different types of houses, boutiques, supermarkets, restaurants, parks and even a church, all with security service included.
At the end of 2012, the luxury Class A apartments accounted for 78% of the units under construction, while the Classes B and C together accounted for 22%.
According to a residential market study prepared by the firm CB Richard Ellis Global Research and Consulting (CBRE Panama), at the end of 2012, luxury apartments categorised as Class A, were the most popular in the residential market in Panama, representing 78% of the total units under construction. Meanwhile, Class B and C apartments, amounted to 22%.
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