The updated plan to develop the Amador Causeway proposes taking advantage of the stretch between the Biomuseo and Naos Island, and building recreational areas on platforms on piles there.
The Administrative Unit of Reverted Property (Uabr) reported that the study of the master plan updated by the firm Tourism, Business & Planning (C4T), recommends the installation of six platforms that will house recreational areas, which would be built on piles overlooking the entrance to the Panama Canal. "...They would be a kind of piers or platforms on piles, where various businesses would be operating. "
Those interested in participating in public auctions of reverted property must submit an affidavit to justify the origin of the funds.
From a statement issued by the Ministry of Economy and Finance:
In order to enhance transparency in public auctions of reverted properties, the Administrative Unit of Reverted Properties (UABR) at the Ministry of Economy and Finance (MEF) reported that from this date all natural or legal persons interested in participating in public acts carried out by this department must file an affidavit, as one of the requirements to be strictly complied with.
The Administrative Unit of Reverted Areas has estimated it could raise $10 million from the sale of remaining lots in reverted areas in the Panamanian Atlantic and Pacific.
From a statement issued by the Ministry of Economy and Finance (MEF):
-UARB estimated raising about 10 million dollars
-Owners who are closest will have priority in the purchase options
The Ministry of Economy and Finance in Panama is auctioning plots located in the area of Coco Solo, township of Cristobal, district and province of Colon.
Panama Government Purchase 2016-0-16-0-03-SB-010384:
"Auction of public property, first call for sale of plots A and B, with an area of 109,518.43 m2, located in the area of Coco Solo, township of Cristobal, district and province of Colon.
The growth experienced in the area has led to the Unit of Reverted Properties to postpone the sale of lots in Amador and Sherman in order to update development plans anticipated in that area.
It's not just the projected fourth bridge over the canal and the convention center being built in Amador, but also the future Metro Line 3, which connects the east of the city with the districts of Arraijan, Capira, Chame, La Chorrera and San Carlos.
The value of property in areas such as Amador, Balboa, Clayton and Albrook, has registered increases of up to 300% in the last ten years.
The proximity to the city, the vegetation surrounding the area and the security offered are some of the factors which have increased the value of these areas. For example, in Clayton, an apartment now worth about $160,000, cost about $35,000 ten years ago.
The Administrative Unit of Reverted Properties expects to auction 87 properties this year, with reference prices ranging from between $150,000 and $47 million.
Two of the properties which are soon to be auctioned are located in Llanos de Curundú, three in Margarita, two in Gamboa, two in Los Santos Province, one in Farfán and three in Veracruz. The reference price for these first auctions range from between $29,000 and $500,000.
The Ministry of Economy and Finance in Panama is considering bringing forward auctions of reverted lands in order to increase state revenues faster.
Minister Dulcidio de La Guardia proposed that the Administrative Unit of Reverted Properties (UABR) bring forward the sales in order to mitigate deficiencies in the state of public finances.
The Secretary General UABR, José Antonio Serracín told Panamaamerica.com.pa that "...At the end of August it is estimated that a a total of $7.1 million will have been auctioned. "
Largo Remo Island in Colon was sold for $30 million for the construction and operation of a container port for handling super post panamax vessels.
The Panamanian Cabinet Council resolved to authorize the Administrative Unit for Reverted Properties-to "... sell to the company SMC BARCELONA, SA, polygon IL01-01, located in the area of the island of Largo Remo, township of Cristobal, district and province of Colón, at a price of 30 million dollars for the construction, development, management and operation of a port for handling containers and other complementary activities. "
The scarcity of land available to build in Panama City is raising the value of so-called "reverted areas."
Prensa.com reports that "The interest in reverted properties, especially in the Pacific, has increased due to the shortage of available land for building in downtown Panama City."
Calculations by the Administrative Unit of Reverted Properties (UABR by its initials in Spanish) indicate "that this year about $80 million could be obtained from the sale of the lands that were returned by the United States to Panama."
The Ministry of Economy and Finance in Panama is inviting bids for custodial services and security for buildings, vacant homes and facilities of the reverted areas.
The tender is for the hiring of services from a company to provide custodial and building safety services for unoccupied homes and facilities of the reverted areas under the responsibility of the Administrative Unit of Reverted Properties at the Ministry of Economy and Finance.
The government has not received any proposals from a single buyer, so the 144 acres of the former military base will be split up for sale separately.
The subdivisions of Sherman will be available to buyers for the tourism development, in which, according to a study by C4T, investments could be made of up to $180 million.
Juan Carlos Orillac, administrator of the Administrative Unit of Reverted Properties (UABR by its initials in Spanish) noted that at the end of March information will be released about the land to be sold.
The Ministry of Economy and Finance announced for the month of September an auction of properties part of the ‘Bienes Revertidos ‘ (Reverted Properties) with values from $70,000 to $15 million.
A press release from the Ministry of Economy and Finance states:
In September, the Administrative Unit of Reverted Properties (UABR in Spanish) will auction properties in the provinces of Panama and Colon.
The Administrative Unit of the Reverted Properties in Panama has announced the availability of three plots for residential use which are 25 minutes from Panama City.
Veracruz, located approximately 25 minutes from Panama City is known for its beaches, on which there are small sized ranch style restaurants where you can get fried fish for $3 to $5 and beers for $ 0.60
The Ministry of Finance is to auction two buildings and one lot located in the provinces of Colón and Panama.
Details of the properties for auction:
No. 902 BUILDING, LAND AREA 6256.67 MTS2, CONSTRUCTION AREA 1421.83 MTS2, LOCATED IN THE COMMUNITY ESPINAR, Township of CRISTÓBAL, DISTRICT AND PROVINCE OF COLON, FOR MIXED COMMERCIAL URBAN USE