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.

Juan Carlos Orillac, administrator of the Administrative Unit of Reverted Properties (UABR by its initials in Spanish) noted that at the end of March information will be released about the land to be sold.

"As for the possibility that there would be a master developer responsible for marketing the area, Orillac said the idea was among the original plans, but added that they haven’t received any formal proposals.

It's easier to find 10 investors to acquire a piece of land, than to find a single buyer", he told Prensa.com

In the opinion of the Spanish firm C4T, the construction of a bridge over the canal, and the expansion of the airport in Colon will increase Sherman’s value. "With the bridge, it will be easier and faster to get to Sherman, an important point that investors take into account when buying a piece of land to develop, said Orillac.

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.

Panamanian Tourist Offensive Begins

January 2012

The government has launched an aggressive plan to promote investments in two areas of most interest to tourism: the former U.S. base in Sherman, in the Caribbean, and Amador, on the banks of the Canal on the Pacific side.

Authorities in Panama have set in motion an ambitious plan to attract investment in two areas of most interest to tourism: the old Sherman U.S.

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 .

Deals in The Vicinity of the Canal

March 2010

There are 5.000 hectares of undeveloped land surrounding the Panama Canal.

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.