New Development Plans for Panama West

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.

Tuesday, June 30, 2015

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.

Prensa.com reports that "... The Administrative Unit of Reverted Properties (UABR) will be negotiating with the Spanish firm C4T to update both documents, said Luis Felipe Icaza, executive secretary of the institution. C4T was hired by the previous administration for the study of Sherman in 2010 and Amador in 2012. "

Besides Amador and Sherman, the UABR will also make a master plan for Altos de Batele, a wooded seaside strip in the area of ​​Farfan, Arraiján. Its location is suitable for urban development, trade, tourism and logistics projects, this being the main attraction, as well as being less than 10 minutes from the capital city. The assessed value of the 7 lots in Altos de Batele is $324 million, and some of the plots were ready to be auctioned. "



More on this topic

Panama: Ambitious Plan for Amador

May 2018

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.

Panama: Auction of Lots for $2.2 million

July 2015

The Reverted Property Unit will be auctioning lots in August for residential or commercial development in Gamboa, Margarita, Davis and Espinar, in the Atlantic sector and in Farfan and Ancon on the Pacific.

From a statement issued by the Ministry of Economy and Finance:

Increased Demand for Reverted Properties in Panama

October 2013

Up until August, $41 million was registered from the sale of reverted real estate and it is estimated that by the end of the year, the amount will rise to $80 million.

The money was obtained from the auction of properties that were returned to the country as part of the fulfillment of the Torrijos-Carter treaty signed in 1977.

Auction of Lots in Amador for $8 and $12 million

April 2012

The Unidad de Bienes Revertidos (Department of Reverted Property, Panama) has announces the upcoming auction of plots in Amador, classified as High Density Urban Tourism.

The main activities that can be develop in the areas on offer are: casino, hotel, theater, museums, boutiques, theme park, resort, restaurant, cafés, bars, convention centers, recreation centers and the like.

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