$ 400 million Urban Development Project in Panama

Tocumen S.A. will develop the basic infrastructure of an area of 850 hectares near the Tocumen Airport.

Friday, December 3, 2010

According to company estimates, the project would include a residential complex, hotels, a business center and commercial storage. Investment could reach $ 6 billion.

To date about $ 100 million have already been invested, including land purchase and development of the master plan.

According to Alex Hernandez in his article for Prensa.com, "the project will be financed 40% with funds provided by investors, among them Joseph Homsany and Isaac Benhamu, both of which are real estate developers."

According to Louis Chevalier, manager of the project named Panatrópolis, the idea has been in the works since 2006.

More on this topic

Colonial Residences Project for $7 million

June 2012

Project "‘La Hacienda del Comendador", located in the municipality of San Miguel Dueñas, Guatemala, will have church, gardens and a "Commander's House."

According to an article in Siglo21.com the developer is Desarrollos Integrales para el Progreso (D&P), which plans an initial investment of $7 million for the construction of community projects, which will give a colonal character to the entire project.

Increased Investment in Mountain Homes in Panama

February 2012

Real estate developers are backing residential building along the central mountain range.

With an investment of nearly $14 million, the company Canion Properties Corporation is to build two new stages of its project Hacienda Los Molinos in Boquete.

"But this is not the only mountain residential project being developed in the country, in fact, in Boquete foreign investor Sam Taliaferro is developing the Valle Escondido Resort, Golf & Spa project, a resort style residential community in the highlands of Panama, whose main attractions are its location, climate, and topography, but this project is targeting international buyers," noted an article in Capital.com.pa

Latin America's First Aerotropolis to Be Built in Panama

April 2011

An innovative logistical base will be built around Panama's Tocumen International Airport at an estimated cost of $400 million.

A "Panatropolis" (Panamanian aerotropolis) is planned for the area surrounding Tocumen International Airport comprising an urban an logistical center that will provide airport support and facilities such as trade and commercial areas as well as conference centers and hotels.

6 Companies Interested in “Manuel Castillo” Residential Project

July 2010

So far, at least 6 companies have expressed their interest in developing the $25 million project in Panama.

These companies, which must submit their bids on July 7, are Meco, Constructora Novoa, Heymocol-Promocon, Ingeniería Rec, Omega Engineering Inc and Cedeño Consorcio.

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