Panama: Sale of Lots in Reverted Areas

The Administrative Unit of Reverted Areas has estimated it could raise $10 million from the sale of remaining lots in reverted areas in the Panamanian Atlantic and Pacific.

Thursday, May 12, 2016

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

-UARB estimated raising about 10 million dollars

-Owners who are closest will have priority in the purchase options

The Administrative Unit of Reverted Areas (UABR) at the Ministry of Economy and Finance (MEF) announced the sale of remaining lots in reverted areas in the Panamanian Atlantic and Pacific, bringing a contribution of some 10 million additional balboas to State.

The Executive Secretary of the UABR, Luis Felipe Icaza explained that the remaining lots are those areas that do not have access and that do not meet specifications that allow segregation in order for them to be considered separate lots, and whose segregation can only be done by joining a existing lot.



More on this topic

Panama: Preparation for Auction of Reverted Properties

July 2016

In the remainder of July lots will be auctioned in Gamboa, Llanos de Curundú and Farfan, for $500,000, and in August lots will be auctioned in Albrook and Howard, for $2.5 million.

See list of properties up for auction

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:

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.

Auction of Reverted Lots Could Be Brought Forward

August 2014

The Ministry of Economy and Finance in Panama is considering bringing forward auctions of reverted lands in order to increase state revenues faster.

Minister Dulcidio de La Guardia proposed that the Administrative Unit of Reverted Properties (UABR) bring forward the sales in order to mitigate deficiencies in the state of public finances.

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