Controversial Real Estate Project Resumed

After being suspended for two months by order of the Panama City Mayoral Office, a court of law has authorized resumption of the construction of Sea Point, a complex of three 30-story towers in Paitilla, Panama City.

Friday, October 13, 2017

A ruling by the First Superior Court of Justice orders Panama City's local government to waive the suspension of the construction permit for the Sea Point real estate project, which up until the moment that works were halted was almost 50% complete. 

Jorge Molina, one of the lawyers working for the company Shoreline Properties, Inc., owner of the property where the work is being constructed, explained to Prensa.com that "...Today Friday, is the end of the five day deadline for all parties involved in the issue to be notified of the decision."  

"... Molina acknowledged that returning to the pace of work there was before this situation will cost the company, since they will have to rehire staff and ask the subcontractors to include them in their agendas in order to resume work."

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Construction work has started on a residential complex estimated at $60 million, which will be composed of three apartment towers and will be located in Antiguo Cuscatlán.

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In Panama City, the number of new residential towers under construction or in pre-construction doubled in 2007.

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