Half of Panamanian Island to be Auctioned for $8.3 Million

Mogo Mogo Island has an area of 69 hectares and 34.4 hectares of that total would be auctioned to promote tourism development.

Wednesday, March 18, 2009

The portal, Prensa.com, published: "Those interested in buying the land will have to present a project that is 'compatible with the environment’ which implies an investment of $2 per square meter as a minimum. With regard to environmental requirements, Marco Tulio Hernández, Director of the Division for the Promotion and Sale of State Property noted that these will be the same as what is established by Panamanian law."

More on this topic

Tax incentives foster tourism development in Panama

August 2008

Law #8 promotes tourism activities in the country by offering tax relief on imports, real estate and capital investments, to name a few.

A report by the Panama Tourism Institute (IPAT) reveals that 12 investment projects totaling $92.5 million have been approved.
This will be the last year in which capital investment projects can benefit from Law 8, a measure designed to foster investment in the country's interior, Carl-Fredrik Nordström, Assistant Manager of IPAT, pointed out.

Ilopango to get US$300 million tourism makeover

May 2008

Private investors are working on a US$300 million project to turn Lake Ilopango into a top tourist destination.

The project would include construction of El Salvador's first five-star lakeside hotel, with 285 rooms, as well as luxury condos with swimming pools, a spa and shopping mall.

Panamanian Tourist Offensive Begins

January 2012

The government has launched an aggressive plan to promote investments in two areas of most interest to tourism: the former U.S. base in Sherman, in the Caribbean, and Amador, on the banks of the Canal on the Pacific side.

Authorities in Panama have set in motion an ambitious plan to attract investment in two areas of most interest to tourism: the old Sherman U.S.

$3 Million Tourism Development Project in Panama Announced

April 2009

Zcom Networks announced the acquisition of the Playa Paraíso Real Estate Development Project.

According to the press release issued by the company, the project will have 5 villas on the beach and 20 condominiums.
The total value is estimated at $ 1.5 million for the land and $2.5 million in construction, and it is hoped that it will generate sales of nearly $6 million, for a return on investment of 179%.

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