Request to Postpone Underground Cable Laying in Panama

It has been pointed out that the impact on commercial real estate owners has not been taken into account when the underground cables are laid on their properties.

Thursday, August 1, 2013

Elisa Suarez Gomez, executive director of the National Council for Promotion of Housing Developers (Convivienda) said they will ask the Ministry of Housing and Land (Miviot) to postpone until January 2014 the new standard which includes a cable laying plan, in order to reach agreements with the Ministry of Public Works, the Public Services Authority and utility companies.

What they are trying to define is, according to the official, the participation of all the entities in the process and how to reduce the costs assumed by the purchaser.

According to the head of the Miviot, Jasmina Pimentel, next September when the standard comes into effect it is likely to increase the price of houses, with the exception of social interest houses, which are priced below $40K.

More on this topic

Zoning in Panama City Suspended

September 2014

Building permits will no longer be awarded for urban development of medium and high density communities in Ancon and San Francisco, in the Panamanian capital.

The Ministry of Housing and Land has ordered the temporary suspension of zoning of medium and high density communities in Altos del Golf and Villa Lilla, in San Francisco, and Altos de Curundú and Llanos de Curundú in Ancon.

Trends in Housing Supply in Panama

November 2013

20 years ago for every apartment for sale in a high rise building there were 9 houses on offer, whereas today the ratio is 50-50.

The construction of residential buildings in the city has been driven by the increased purchasing power of immigrants and the integration of the underground transport system.

The Costs of Underground Cabling

October 2013

Construction unions in Panama are looking for a way to avoid an excessive increase in the value of homes due to underground cabling.

"The guilds of Panama involved in building and selling homes, have joined forces with the aim of making underground cables in new residential projects (...) not having a significant impact on the price of homes ...", reported Panamaamerica.com.pa.

Panama: Underground Cable Increases House Values

September 2013

House prices could increase by as much as $7000 because of underground cables laying, now postponed until January, in new residential complexes.

The Ministry of Housing and Territorial Ordinances has decided, along with promoters of urban projects, to postpone until January 2014, underground cable laying which was scheduled to start on September 1.

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