Category Archives: Real Estate

Coronado Country Club

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Experience the ultimate in beachfront living, where life and luxury meet at the crest of a wave. The new Coronado Country Club Resort is a spectacular beach-front condo project, offering lavish sky-village penthouses and turn-key town homes overlooking the largest pool in Latin America.

No details have been spared in ensuring the complete comfort of modern amenities in a breathtaking natural setting. Homes are adorned with walk-in closets, porcelain floors, imported fixtures, European kitchens with granite countertops, and a luxurious Jacuzzi on private terraces.

Residents are just a stroll away from the pristine greens of the on-site golf club, designed by world-famous golf architect Tom Fazio, and the sandy white expanses of the Bahia Serena beach club.

Maid’s services are available for the care of your home, as are chauffeur services and airport shuttles to whisk you to your plot of paradise. For those part-time residents, an on-site property management services can oversee the rental of your unit to generate income while you are away.

This particular stretch of Panama ‘s Pacific coast is a favorite destination for retirement, offering beauty and tranquility, with easy access to Panama City ‘s airport, shopping, restaurants, health care services and more.

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.

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.

Costa Del Este Panama City Republic of Panama

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Costa del Este is one of Panama City’s most modern neighborhoods, made up of planned residential communities, office buildings, shopping centers, banks, and an industrial park. Located east of the downtown core, Costa del Este was created by filling in more than 20 million cubic yards along the Bay of Panama in the country’s then-largest construction project. The resulting 310 hectare-project, is one of Panama’s most coveted waterfront neighborhoods, known for its high-end construction and ultra-modern amenities.
Costa del Este has become a showpiece of modern construction and careful planning; exquisitely landscaped, with residences ranging from modest to millionaire, it is a city within a city.Connected to the mainland by a two kilometer-long bridge, Costa del Este is fringed with mangroves on the east, and looks across the curve of the bay to the city lights just ten minutes away. Despite this proximity, Costa del Este is very much a world apart. Planned to the last detail, this ambitious project provides generous public spaces, with several parks (the largest of them 30 hectares, buffering the commercial and high-density residential areas), recreational areas, a central plaza, and a four kilometer-long pier. Most of the infrastructure is buried, leaving the views clean and uncluttered. Gardens run the lengthof the central boulevards, creating a welcoming and genteel atmosphere.

 

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.

Nikki Beach Lofts Cancelled Panama

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A furore is building over the cancellation of Nikki Beach Lofts in Panama, as clients are told deposits are months away from being refunded.

The beachfront project on Playa Blanca, just 75 minutes west of Panama City, Panama, was one of three being sold at the site under the world-famous Nikki Beach brand.  The iconic brand was launched in 1997 in Miami, Florida, and has since opened more than 20 locations around the world, including Cannes, Thailand, Greece and the Caribbean.

Prospective buyers in Panama were promised a beachfront fantasy in “the sexiest place on Earth”, as the project’s tag line reads, with no fewer than 68 lofts with floor-to-ceiling windows, panoramic ocean views and the exclusive Nikki Beach lifestyle.

Today, clients of the residential projects are being told that the project is now dead in the water, and the deposits collected on the promise of that dream are not available to be refunded.

“I had to call the office myself to find out what was going on,” said one angry buyer who wished to remain anonymous, “they didn’t even have the courtesy to inform us that the project has been cancelled.”

“Then I was told my deposit money was not available, and I would have to wait at least another month while they collected on their hotel/condo projects, before they could pay me back.”

Correspondence sent to the Nikki Beach Ocean Loft buyers by Joaquin Arias of Destiny Real Estate, which is in charge of marketing the project, states quite plainly the reason for the delay:  “We have just received the occupancy permit for the condos and we are focusing our efforts on the closings.”

“In essence,” added the disgruntled investor, “they are using my deposit money to fund their other projects – giving themselves interest-free financing of the most unethical kind.”

The lofts were marketed as one of three residential options on Playa Blanca, Panama, in addition to a condo-hotel, and luxury residences.  Today little sign exists of the Nikki Beach Ocean Lofts save for a few Panamanian real estate sites hawking the theoretical 12-storey buildings, and the barest of mentions on the Nikki Beach Hotel website:

“[The] Nikki Beach Resort & Spa will feature one- and two-bedroom condo-hotel rooms for sale as well as luxury lofts and condos.”

The cancelled Nikki Beach Lofts is just the latest in a spate of abrupt withdrawals and failures in Panama, which include the much-touted Ice Tower on Panama City’s Balboa Avenue, the Park 32 project in Costa del Este, Loft One, Loft Two, Plaza Obarrio, Plaza Costa Del Este and Palacia de la Bahia, which many fear will have a dampening effect on the country’s thriving real estate market.

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

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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.

What’s Panama City’s tallest condo tower?

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I know there has been a lot of competition between developers to build the tallest building in Panama City – which one is currently standing as the tallest?  And how much are units selling for?

Standing 689 feet is Aqualina Tower, Panama City’s tallest building.  The Aqualina highrise has 63 floors, boasting 144 rooms—all of them with ocean views.  Valued at $210 million, the tower was completed in 2007 by Fajardo Moreno Arquitects.  Located in the Punta Pacific district, like many of the city’s skyscrapers, it’s a residential building.  Depending upon the desired floor plan, condos range from $525,000 to around $1 million.  You can probably visit it by going and asking for a home tour at the front desk.

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.

Trump Tower Looms Large on Panama’s Horizon

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Headline:

Trump Tower Looms Large on Panama’s Horizon

Summary:

As the construction date draws near, www.PanamaReals.com offers clients access to the latest in Donald Trump’s exciting real estate venture, the Trump Ocean Club International Hotel and Tower in Panama City.

Release:

With just a month left before breaking ground, Donald Trump’s first signature development in Central America is quickly selling out.  The announcement of the Trump Ocean Club International Hotel and Tower created a sensation in May when Mr Trump unveiled the plans for the 2.4 million square foot project, to be located in one of Panama City’s hottest new districts.

Featuring 500 condominium units and 300 hotel units, the 65-story waterfront tower design flares like a fully deployed sail over Punta Pacifica, Panama City, and competition is heating up for what remains of some of the most affordable Trump real estate in the world. Visit TrumpOceanClub.com for a list of remaining units and current prices.

No expense has been spared to maintain the Trump standard of ultimate living.  The luxurious multi-use project is estimated at $220 million, making it the largest real estate investment in Latin America.  Clients will have use of a yacht and fishing club, a full-service spa with Turkish baths, international casino, business center, boutiques, restaurants within the complex, and an exclusive beach club set on an island, a 60-minute ferry ride away.  Details on the project’s amenities can be found at TrumpOceanClub.com

The business magnate’s name is not the only allure – Panama is fast becoming one of the most sought-after destinations for investment, retirement and vacation real estate, matching low-cost living with modern amenities.  Conde Nast, International Living and Modern Maturity have all ranked it among the best places in the world for real estate and retirement.  The health care system is also attracting its fair share of health tourism, offering high-quality medical services at a fraction of North American prices.

Pristine beaches, political and economic stability and a rich incentive program for retirement and foreign investment have made Panama a clear favorite as a setting for this latest Trump venture.