The project to expand the Canal has increased the value of these lots, which used to be managed by the United States before the signing of the Torrijos-Carter treaty, which recognized Panamanian sovereignty over the Canal.

Such lots are interesting for touristic endeavors or for installing maritime or logistic facilities. The Panama Canal Authorities and the Recovered Goods Unit of the Economy Ministry are already planning their development.

An article in Prensa.com explains that one of these areas, Fort Sherman, is expected to become “a major touristic center. The first steps to develop it are similar to what was done in Howard. There, the Government hired a consulting company (C4T Tourism Business & Planning) for $266.000, to develop a master plan”.

Source: Prensa.com

More on this topic

New Development Plans for Panama West

June 2015

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.

Panama: Sherman Land For Sale

December 2012

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.

Tenders for Tourism Development in Sherman

January 2012

The Panamanian government will announce in the coming weeks a tender for several tourist developments in the area.

The executive secretary of the Management Unit for Reverted Property (UABR in Spanish), Juan Carlos Orillac said they have already completed a development plan for the area prepared by the Spanish consulting firm C4T .

Upcoming Tourism Center in Sherman, Panama

February 2010

Consulting company C4T Tourism Business & Planning will develop a master plan for touristic development in the former Sherman military base.

Liriola Pittí, from the Economy Ministry, informed that once the study is ready they will proceed to market and promote it.

“Dámaso García, major of the province of Colón, commented that this is the most important tourism initiative of the past 25 years in Panama”, reported Laestrella.com.pa.