Guatemala: Congress Discusses Purchase of Ritz Continental

The building is owned by the Guatemalan Pediatric Foundation, located in the historic center and valued at $10 million.

Tuesday, March 10, 2009

The chairman of the Pediatric Foundation (FPG), Luis Genaro Morales, told "The FPG has a debt of 'about $3 or $4 million’ with the G&T Continental Bank. We were going to build a hospital but cannot because it is in the historic center. We have inadvertently gotten into trouble. However, there is no one better than the Congress to buy it because of the 158 offices that the Ritz could accommodate for its 50 committees, including a tunnel from the building directly to the Legislative Palace.”

More on this topic

Bulgarian join race for real estate in Panama and Costa Rica

May 2008

Erna, a Bulgarian real-estate agency, is now offering properties in Costa Rica and Panama to potential Bulgarian buyers. Erna says interest is growing because the weakness of the US dollar is pushing down prices for Europeans.

In an interview with Efe news agency, Erna's director, Petronia Staykova, said the company had already received 10 requests for properties in Central America and the Caribbean and was lining up more clients.

Looking for Legislative Seat in Costa Rica

February 2011

Banco de Costa Rica analyzes possible options for moving the seat of the Legislative National Assembly.

Originally the institution would be placed in a building located in the Zapote area, near the presidential home, but the operation was unsuccessful.

Legislative representatives said they considered a 23.5 million property, also near the presidential home, but the owner desisted in selling the property and the Bank is evaluating 8 other options.

$5 Million Investment in Office Center

November 2011

The new "Corporate Multi-center" ("Multicentro Corporativo" in Spanish) complex will be opened in November in the Costa Rican capital, San Jose.

Approximately 5,300 m2 of office space will be created on two floors with 2,300 m2 on the fourth floor and 2,100 on the seventh.

Panama: Controversy over Financial Tower

May 2011

The project, which will cost about $220 million, is being seriously questioned by those who believe that the cost the government will assume is excessive.

In the face of the project’s detractors, Panamanian government representatives have had to come out to defend the development, justifying the cost of the work by the use of office space the government will have in the tower.

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