Spain's Interplus plans US$280 million real-estate project in Panama

Spanish real-estate developer Interplus plans to invest US$280 million in two projects in Panama City's Avenida Balboa.

Tuesday, May 27, 2008

Enric González, an Interplus associate director, said: "We looked at possible investments in Brazil, Argentina and Ecuador. But Panama's legal and personal security, plus the level of its services, makes Panama a much better proposition."

More on this topic

204 towers under development in Panama City

June 2008

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

Although some reports place the number of towers in the planning stages at more than 300, CBRE’s report found 204 residential buildings under construction or in pre-sales, representing 21,710 units.

Spain's Marina d'Or plans US$18.6 million condo tower in Panama

May 2008

Promotora Marina d’Or, a Spain-based real-estate developer, has entered the market in Panama with a US$18.6 million residential tower project.

Work on the project, in the exclusive corregimiento de San Francisco municipality, is due to begin in October. The 35-story building it to have 130 apartments.

ICA to build artificial islands in Panama

May 2008

ICA Panamá, the local unit of Mexico's leading constructor ICA, is planning the US$140 million development of two artificial islands off Punta Pacífica.

The project will require 4 million cubic meters of infill, equivalent to two of the Egyptian pyramids, said Diego Hernández, chief executive of ICA Panamá.

Costa Rica: Construction hints at slowing down

April 2008

The bonanza the construction sector has enjoyed in recent years could be coming to an end.

The recession in the United States has caused many real estate projects to stall as a result of declining confidence among some foreign investors who now see an uncertain future.
Signs of this include the pessimism reflected in low North American consumer confidence and the loss of at least a quarter of a million employees so far this year there. Other factors include the sizable increases in oil prices and the fall in property values.

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