Panama: 23 Companies Express Interest in Financial Tower

Authorities expect construction to begin in 2011 and that it will be ready in 2013.

Wednesday, September 1, 2010

Panama's Economy and Finance Ministry (MEF in Spanish), has held a preliminary meeting to discuss the $8 million contract, which includes conceptual design, draft architectural plans and technical specifications for the Financial Tower.

"At the meeting the minister, Alberto Vallarino, stated that the project must be structured in a way that ensures its construction can begin next summer, at the very least the car parking areas and perimeter walls," reports

The tower will house public sector financial institutions and private companies that wish to rent office space.

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Mallol will Design Panamanian Financial Tower

November 2010

The Ministry of Economy awarded company Mallol & Mallol the design of the project.

Official awarding could be delayed due to the filing of a complaint with the Public Procurement Department by Pinzón Lozano & Asociados.

"Pinzón Lozano & Asociados ensures that the commission´s report incurs into omissions and arbitrary decisions while implementing approved parameters." He further claims that the Mallol consortium's proposal does not meet the statutory minimum requirements", reported an article in

Mallol Favorite for Panamanian Financial Tower

November 2010

Of the 6 participants in the bidding for the $ 8 million project, Mallol & Mallol, obtained the highest score.

With 94 points out of a total of 100, the company overtook the firm Pinzón & Lozano by 10 points. In third place with 72 points was consortium Kobi, Karp, FIMS & Sum.

Bidding for Financial Tower in Panama Postponed

September 2010

Reception of bids for conceptual design of the project scheduled for October 4 was postponed until November 18.

The Bid´s reference price of $ 8million includes design as well as architectural and technical specifications. informs "According to documents, the skyscraper will be more than 300 meters high and top floors would have a gazebo, restaurant and lounge."

Panama Invites Bids For Megaproject Blueprints

June 2010

The government announced it will invite bids for designing the plans of the Government City.

This project comprises constructing institutional buildings, the financial tower and areas for residential, commercial and office development.

Alberto Vallarino, Economy Ministry, remarked that “part of the project will be financed by selling lots”, and that the entire cost of the project is not known yet.