Ritz Carlton Shopping Center in Panama

The $360 million project by Grupo Wisa includes luxury brand stores, a 5,000 square meter casino, and the first Ritz Carlton hotel in Central America and the Caribbean.

Friday, November 16, 2012

Although figures currently show a decrease in hotel occupancy in Panama City, due to the significant increase in the number of rooms supplied by the hotel industry, there is still room for luxury end projects like the Grupo Wisa building on Calle 50.

An article in Capital.com contains an exclusive interview with the executive vice president of Soho Developers, Inc., Roberto Fasquelle who said that the differentiation of the various components of the complex with other current proposals in the Panamanian market, is the key to its success.

Fasaquelle remarked that an example of this differentiation is that "the two office buildings that are part of the project are being built to green building standards and will have the respective certification, while the third building will contain the first Ritz Carlton hotel which will have 226 rooms, and is being developed in collaboration with the company Ritz Carlton, who will operate the hotel. Fasquelle added that this project will also feature a 5,000-square-foot casino which will be one of the first casinos to be developed not as an aggregate of a hotel but as a project in itself, and will be operated by the Grupo Gasa from Spain, which is the second largest gaming company in Europe. And the last element of this complex will be a mall called Soho, measuring 40,000 square meters, which will be designed by renowned Brazilian architect Arthur Casas, and will have 3200 parking spaces designed by Waker Parking Consultants, leaders in the design of such facilities. "

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