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

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.

Wednesday, May 28, 2008

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.

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

May 2008

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

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."

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.

Panama housing expo features affordable projects

April 2008

Panama's Expo Vivienda Verano 2008, a housing exhibition that features 240 projects and 14 banks, opened in Atlapa Thursday.

Walter Medrana, president of the Panama Construction Industry Chamber (Capac), said the expo would feature projects that include homes within the US$80,000 limit set for a new preferential lending rate approved by the National Assembly.

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