Category Archives: Panama City

Revolution Tower Calle 50 Panama City Panama

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The Revolution Tower is an unforgettable icon in the heart of Panama City’s Banking and Business district. This commercial tower offers units of 2000 to 6500 square meters, with private, secure working areas and superb views of the ocean and glittering city lights.

Offices, meeting and video conference rooms are fully furnished and equipped with standard office equipment such as printer, fax, scanner, copier, mail and postage machinery. The tower offers complete telecommunication services including multi-access T1 and telephone ports, continuous IT maintenance and support, digital telephones, high-speed internet and LAN with security system protection. Common areas include fully-stocked kitchens; offices are cleaned daily. The lobby area includes a reception desk and welcome area, and an on-site center manager is available to address any concerns.

Obarrio – Central Neighborhood – Panama City

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Obarrio is one of Panama City’s most prestigious central neighborhoods, set between El Cangrejo and San Francisco. A  blend of the commercial and residential, it is home to many swanky boutiques, shops and office buildings, as well as luxurious homes and condominiums. Many of Panama’s most high-end real estate projects are being erected in this neighborhood, and designer names are plentiful along Samuel Lewis Avenue. Names like Lalique, Ferrari, Ralph Lauren and Rolls Royce head the the gleaming store fronts.

Obarrio is also part of the city’s prestigious banking district with more than 100 international banks operating within Panama, attracting a elite suite of residents and business tenants.

 

Pacific Village – Punta Pacifica – Panama City – Panama

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Located in the posh Punta Pacifica district, with complete access to elegant shops, restaurants, banks and all amenities, Pacific Village is one of the largest and most exclusive private residential developments in Central America.

Residents of Pacific Village can enjoy exclusive access to the complex’s private beach club and docking pier, stroll through lush gardens, enjoy a relaxing massage at the Village Spa, and browse through the complex’s boutiques and shops. The Village also offers great recreational areas for all ages, including the sky lounge, bar, swimming pool, children’s playgrounds, racquetball and squash courts. The fitness center includes an aerobics room, a spinning room, cardiovascular equipment, free-weights and sauna.

Mystic Point Condos Panama City Panama

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Mystic Point is set in Panama City’s posh Punta Pacifica district, with beautiful views of the ocean and city skyline. The neighorhood is quiet and upscale, with easy access to modern shopping centers, restaurants, the Banking district, and less than 20 minutes to the Tocumen International Airport.

Residents can choose from a variety of three-bedroom suites, ranging from 1700 to 2800 square feet.

Each apartment includes two parking spaces. The complex’s amenities include swimming pool, racquetball court, gym, Jacuzzi and sauna, as well as a ballroom for social events.

Ocean One & Ocean Two Costa Del Este Panama

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Ocean One is located in the rapidly-growing waterfront neighborhood of Costa del Este, offering expansive ocean and city skyline views. Apartment and penthouse suites are spacious and elegantly appointed, from 3000 to 8000 square feet. Each unit includes a master bedroom with walk-in closet, private bathroom and breathtaking views from picture windows, a breakfast nook with panoramic views, a sprawling living room and dining room with picture windows overlooking the ocean, and up to three additional bedrooms.

Residents can lounge by the pool, bordered by landscaped gardens and complete with bar and barbeque, keep active on the basketball, racquetball, volleyball and tennis courts, work out at the fully-equipped gym, or relax in the sauna and wellness spa.

Ocean Two is down the road on Paseo del Mar boulevard in the upscale Costa del Este neighborhood.

Just ten minutes to the heart of the city, Ocean Two enjoys magnificent views of the ocean, cityscape and mountains. Modern architecture and sophisticated finishes make this an impressive addition to the Panama City skyline.

With just two units per floor, and floor-wide penthouses available, your privacy and comfort are assured. The master bedroom, den and kitchen all offer floor-to-ceiling windows with glorious ocean and mountain views. Apartments also include walk-in closets and a private bath for all bedrooms with marble finishes, an elegant living room, family room, spacious dining room, and terrace. Each residence comes internet-ready with fiber optic cable, modern security systems, laundry, and up to three parking spaces per unit.

Casco Viejo

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Flanking Panama City’s gleaming high-rises and cosmopolitan allure lies the Old Town, or Casco Viejo, which thrived in the 17th century in the heyday of Spanish colonialism in Panama. It sits on the waterfront of the Bay of Panama, and the arc of the city can be seen rising in the distance. Much of the exquisite architecture has fallen to ruins, but restorations are under way breathing new life into the charming and colourful old district. Newly-restored buildings stand shoulder to shoulder to centuries-old ruins, giving the area a surreal and very appealing atmosphere.

Some of Panama City’s chicest cafés and restaurants are within the Casco Viejo, as is the presidential palace, the National Theater, several churches and cathedrals, and small plazas and parks adorned with statues of Panama’s heroes. Many of the renovations are being converted to stylish lofts and studios, art galleries and shops, making this one of Panama City’s most attractive neighborhoods and a popular tourist attraction.

Its latest starring role is as the setting for the newest Bond film, a Quantum of Solace. Panama attracted international attention last year as the film shot on location within the captivating quarters.

The Panamanian government is offering special incentives for the restoration of historical monuments and buildings with the Casco Viejo, including:

  • 10-year income tax exemption on the sale or rental income of properties
  • 30-year real estate tax exemption
  • total exemption on the 2% transfer tax of real estate on the first sale of properties valued above $50,000
  • preferential interest rates on loans
  • total import tax exemption for equipment and materials related to construction and restoration that are not available in Panama

The Neighborhood of Punta Paitilla, Panama City, Republic of Panama

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This shot was taking from Panama City Causeway (Amador)

Paitilla (or Punta Paitilla) is a waterfront neighborhood on a spit of land in downtown Panama and one of the most exclusive residential areas in the city. Dominated by gleaming condominium towers, Paitilla offers sweeping views of the Pacific Ocean on three sides, and the curving city skyline to the west. Residents can enjoy strolling along the shore, or gazing out to sea at one of the point’s elegant seaside parks.

Located at the end of Avenida Balboa, Punta Paitilla has everything needed at its doorstep – the Punta Pacifica Hospital, Panama’s most modern medical facility affiliated with John Hopkins Medicine International, supermarkets, shops, hotels, restaurants and specialty niches such as a comprehensive kosher supermarket and synagogues. Just minutes away lie the Multi-Plex and Multi-Centro malls with dozens of commercial stores, and Panama City’s banking district.

What is the flight time from Orlando to Panama City?

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If you are flying direct from Orlando to Panama, the flight time is about 3 hours 25 minutes.  Airlines that fly direct from Orlando to Panama City include Copa Airlines, which has daily direct flights, and Continental Airlines.  On average Copa’s direct flights are usually much cheaper.

Where are some of the best sites for bird watching near Panama City?

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I’m looking forward to doing some birding and would appreciate all recommendations

One of the great things about birding in Panama is that a good amount of sites are relatively close to the Canal Zone, where major birding attractions can be about 1hr from your hotel.  This includes Cerro Azul, a private mountain community about an hour from Panama City; the Bayano lowlands, two hours from Panama City and the westernmost limits for some Darien species; Nusagandi, a preserve managed by the Kuna Indians with rare birds like the green manakin; Old Gamboa Road, a 30-minute drive from Panama City; Pipeline Road, which starts at the end of Gamboa (check out the Panama Rainforest Discovery Center there, run by the Avifauna Foundation); Metropolitan Park, the largest tropical forest park in Central America; and Achiote Road, known for its raptors.

Where is a good place to go shopping in Panama City?

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I’m looking to get some good deals, but not just cheap clothing.

If you are looking for higher-end brand names, Multi-Plaza in the business district, just off Avenida Balboa, is a good place to find a lot of big names clustered together; but the prices are not usually bargains. The Albrook Mall next to the Albrook Airport is less conveniently located but offers a better chance at a bargain, though you have to wade through a lot more items to find the really good deal. There are also high-end boutique stores all over the city, especially on Calle 50 and 53, and Via España is a good place for a mixture of high and low-end shops.

Where is commercial development excelling in Panama?

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I’m wondering if anyone has any advice about real estate hotspots in Panama for 2010?

These days the interior of the country is finding its niche in terms of commercial activity, anmely the areas along the highway running from Boquete in the Chiriquí province to the center of the city David near the Pacific coast.  On top of that, the central avenue of Penonomé in the province of Coclé, Las Tablas in Los Santos, and Santiago in Veraguas are also reporting solid increases in commercial activity.  The President of Veraguas’ Chamber of Commerce, Industry and Agriculture, David Virzi has recently said his province was “doing great”, while Rigoberto Vergara, who heads the Las Tablas Chamber of Commerce in the Los Santos region, said commercial activity is going steady, especially in the area of Pedasí, where a number of residential tourism projects are still under construction.

Construction Update 2006 – 2007

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Construction is big business in Panama, to meet the demand for housing, tourist accommodations, business centers and service infrastructure. Many of those who come to invest or live in Panama choose to build, taking advantage of cheap labor and a string of government incentives to encourage development.

The Panamanian Institute of Architecture and Urbanism estimates construction will generate more than $10 billion over the next five years, and Panama City in particular is a shining example of the building boom.

A thriving cosmopolis, Panama City has 121 existing high-rise buildings, and more than 100 additional high-rises on the way. A recent study estimates these newest projects will create more than 10,000 new apartments, with a value of $3.17 billion.

Indeed, construction is one of the main engines of Panama economic growth, which increased nearly 7% last year.

To further stimulate the construction sector, special legislation has been put into place to offer tax breaks and preferential interest rates to developers. As of September 2006, new rules came into effect (replacing earlier incentives programs) offering tax exemptions of up to 15 years on the construction of residential homes. These exemptions are transferable when the property is sold.

Real Estate Tax Exemptions on Constructions for Residential Use Commercial Buildings: 10 years
Houses
- Up to US$100,000: 15 years
- US$100,000 – US$250,000: 10 years
- More than US$250,000:  5 years

Reduced mortgage interest rates, up to 6.5% below regular rates, are also offered in some cases. To qualify, the home being built must become the owner’s principal dwelling, and be valued below $62,500. This incentive is mostly appealing to those who want to move or retire to Panama.

Other special incentives on construction include those made in special tourist zones, and considered ‘in the public interest’ as defined by the Panamanian Institute for Tourism. These are granted a 20-year exemption on real estate, as well as import duties and value-added tax over the importation of furniture, materials, equipment used for the construction, as well as vehicles of at least eight passengers.