Panama Canal Contract Granted - Development Continues

The Panama Canal Authority has announced the winner of the $3.4 billion contract that will double the capacity of he waterfront.

Voters approved the Panama Canal expansion, which includes a new set of locks to accommodate larger ships, in 2006. Construction began in 2007 and is due for completion in 2014, 100 years after the Canal’s inaugural construction. The new expansion will allow large cargo ships to transition between the Pacific and Caribbean Oceans in under a 10-hour timeframe. The Canal’s current capacity allows ships carrying up to 5,000 containers. After the development and expansion, the Canal will be able to accommodate ships as large as 12,000 containers.

The project was awarded to Spain’s Sacyr Vallehermoso, which partnered with Italian company, Impregilo SpA, for bidding purposes. SV beat out competitors including: Bechtel, a Mitsubishi group; Actividades de Construccion y Servicios; Acciona; Fomento de Construcciones y Contratos; and Hochtief.

According to Canal spokeswoman, Teresa Arosemena, Sacyr Vallehermoso won the project after placing a bid of $3.12 billion, far lower than competing bids. The contract was approved by the ACP, which is owned by the country. The total Canal expansion project is valued at $5.25 billion. Sacyr Vallehermoso stock rallied almost 13% after being awarded the Panama Canal contract……

Panama has maintained a consistent position for growth and development. Interested in investing in Panama? Visit Panama-land-for-sale.com to see properties, land, and residences for sale in Panama. Click here for more information.

New Developments in Panama Real Estate Market

Local Panamanian realtors have commented that some of the large free-standing homes and mansions have been put up for sale in recent months. Such properties are a rarity, due to the fact that most of the larger homes and mansions are passed down from generation to generation. However, due to a slight slowing of the condo market, and Panama’s increased profile as a “travel and investment hotspot”, these properties are selling very quickly as international investors look to Panama as a tax haven.

In Additional development news, this week, Hilton Garden Inn announced that it plans to enter the mid-priced Panamanian hotel market. The Hilton Garden Inn brand is one of fastest growing within the hotel chain. The new hotel will be a 17-story high rise on Calle Eusebio A. Morales and Calle Enrique Grenzier in the banking and commercial sector. The hotel has signed three multi-year agreements in Panama City--two management agreements and one franchise agreement.

Interested in investing in Panama land? Visit Panama-land-for-sale.com to see properties and land for sale in Panama. Click here to view properties, businesses, and land listings in Panama.

Panama Climate a Draw for Those Purchasing Property...

Shelter Offshore recently profiled the favorable geography and climate in Panama, for those looking to live in an economical, tropical environment.

As many know, Panama is popular with retirees and is a top investment and lifestyle destination. While a developing nation, Panama is a cosmopolitan tropical paradise that offers a low cost of living.

Located between Costa Rica and Columbia, Panama offers beaches on both the Caribbean Sea and Pacific Ocean. The climate varies greatly as there are both sandy beaches and mountain ranges that offer fresh breezes. There are many activities for those that enjoy fishing, diving, golf, or water sports – as there are shallow, warm waters. There is no winter in Panama, but the rainy season, which occurs from May to November has late afternoon showers.

There are outer-lying areas like Boquete and Portobelo that have beachfront property for sale at a significantly reduced cost than in the states…..

Click here to read the article.

Interested in moving to Panama? Visit Panama-Land-for-Sale.com for information about living or retiring in Panama. View our properties for sale in Panama City, and areas like Portobelo. Click here for more information.

Real Estate to Continue to Generate Wealth in Panama...

Panama Opportunities just published an article called “Creating Wealth – Real Estate Investments in Panama”

As many real estate investors understand, there is still wealth to be created in Panama with property. The Panamanian government is considered to be “pro-real estate”, continually encouraging business opportunities in Panama. Additionally, the land and property prices in Panama are much more affordable than other areas of the world, and without natural disaster occurrences.

A haven for Americans, Europeans and retirees, Panama offers tropical benefits of owning a Latin American property without the hefty price tag. Prices in Panama are much more affordable compared to other areas of Latin America.

Panama presents a sound business opportunity due to its central location, beachfront and mountain properties, and well-planned cities. Click here to read the entire article.

Panama-land-for-sale.com has many properties and investment opportunities. Panama lots starting at $39,000. Click here for investment and land deals in Panama!

Panama Q to Cover Growth in Panama

The Advocate, in Stamford Connecticut just published a profile of living in Panama. Among the advantages are lower costs of living, ocean views, and significant growth and development make Panama ideal!

Two natives of Connecticut, Robert Leckie of Greenwich and Elspeth Anne Beier of Wilton, have created a new magazine called Panama Q. The magazine targets high-end readers and travelers and currently has distribution in several 5-star hotels. Panama Q will feature real estate, dining and adventure segments, as well as a “health tourism” section that features the different medical advantages coming to Panama.

Panama has been compared to Miami, Chicago and Manhattan from a metropolitan standpoint, and offers other advantages because it is bordered by both the Atlantic and Pacific Oceans.

Panama Q will have offices in the United States as well as in Panama City.

Panama’s economy is unlike the rest of the world’s fiscal crisis….it is actually doing quite well….Visit our website at panama-land-for-sale.com to learn about living in Panama and to see our properties for sale in Panama!

Panama Canal Reports Growth and Development

Last week, further good news for Panama’s development emerged – the Panama Canal has hit record-high revenues in 2008.

The 2008 income for the Panama Canal Authority hit a record high of 2.007 billion dollars, with the fiscal year ending September 30, 2008.

According to numbers by the PCA, the numbers for 2008 were up 14% from 2007, which resulted in income of 1.76 billion dollars.

The Panama Canal Authority’s Vice-President of Canal Operation, Manuel Benites, has reported that the organization is doing surprisingly well considering the global fiscal crisis. According to Benites, the Canal reported increases in passenger vessel transits up 17.6%.

Further growth is anticipated due to the increased time required for ships to cross the Canal, which measures 80 kilometers. Current wait time for cargo ships is 31.55 hours, up from 27.84 hours in 2007. The PCA credits the wait time to maintenance on botht he Pedro Mighel and Miraflores locks. On a brighter note – the number of accidents fell from 1.09% to .68% per thousand transits.

Amazing development is occurring in Panama – are you interested in moving or relocating??? Visit our site and our blog as a resource for information about the new growth and prime properties for sale near Panama City!!! Check out www.panama-land-for-sale.com.

Panama Development - Diamond Exchange will add to Growth

It was announced on Sunday that the Panama Diamond Exchange will launch Friday, October 24th. The ceremony on Friday will include government ministers and international leaders of the diamond and jewelry industries.

Leaders slated to attend the opening ceremony include:

• Avi Paz – President of World Federation of Diamond Bourses (WFDB)
• Gaetano Cavalieri – President of The World Jewelry Confederation
• Eli Izhakoff – Chairman of World Diamond Council
• Jacob Banda – President of Diamond Dealers Club of New York
• Alex Popov – President of Moscow Diamond Exchange

The Panama Diamond Exchange is the first and only complex dedicated to gemstones and jewelry in Latin America. The new exchange will encourage the development of Panama as an international hub for diamonds. The Panamanian government plans to grant the exchange Free Zone status.

The new exchange will be located near the business center in Panama City, close to the main international airport. The facility will be a secure building that will house offices, showrooms, gem labs and banks. The Panama Diamond Exchange will be Latin America’s only member in the World Federation of Diamond Bourses.

The Diamond Exchange is among many exciting growth and development initiatives in Panama!!! Are you interested in retiring or relocating to Panama? Check out our Panama properties at www.panama-land-for-sale.com for more information about our land deals outside of Panama City!

Panama Banking is Good for Growth...

Reuters reported this week that Panamanian President, Martin Torrijos, is reporting a strong Panama banking system, amid the current global credit crisis.

Torrijos pledged preparation, responsibility, and management in order to insure that the country stays in a positive financial position. At an appointment ceremony for new Banking Supervisor Olegario Barrelier, an experienced banker.

Barrelier cited that Panama’s liquidity is at 58% of total deposits, with a total of liquid assets at $13.54 billion US dollars. Fortunately, Panama is not reliant on external funding. Advantages are due to the fact that Panama has no sub-prime mortgage market and is aggressively tightening up current credit. The banking environment is now home to over 80 international banks, and is one of the largest banking centers in Latin America including banks like HSBC, Citigroup, and BBVA.

Make your investment here in Panama! It is a great time to relocate or retire in Panama – the US dollar buys a significantly better quality of life. Despite the global financial crisis, Panama’s economy is expected to post a growth of 9.5 percent this year. Make your move – visit www.panama-land-for-sale.com to see our incredible land specials in Panama!

Diversity Still Very Much a Part of Panama Today

This week, the Panama Travels blog posted about the Jewish Community and its growth in Panama City, Panama. Panama, a naturally diverse country due to the initial construction of the Panama Canal, and now – years later – from the expansion efforts of the Canal – has been a hot bed for foreigners since its inception.

The first Jews to Panama came from Spain and Portugal and practiced secretly. Much of this was due to the fact that many came after Nazi invasion in Europe.

Apparently there are over 10,000 Jews now living in Panama City and the outlying areas like Colon. As a result, Panama has ample supply of synagogues, Kosher supermarkets, and Jewish day schools. The Free Zone in Colon is a haven for many of the Jewish developers. The contrast is an interesting one, considering that Panama was colonized by Catholic missionaries.

Panama truly is a diverse and international city. Check out our website to check out our land investment deals. Make your home in Panama! Visit www.panama-land-for-sale.com.

COME TO PANAMA CITY FOR THANKSGIVING AND VISIT US OUR LAND DEVELOPMENT PROPERTIES!

Panama Marine Adventures is currently promoting their new cruise for the holidays in order to take the stress out of planning, cooking, cleaning, and hosting guests.

An 8-day cruise, based out of Panama will highlight the “wide variety of history, culture and landscapes that make Panama so unique”.  The cruise will not only highlight the Panama Canal, but other areas of Panama as well, such as Fort San Lorenzo and the Church of San Felipe on the inter-oceanic route.  The tour will also highlight the Darien Jungle and Embera Indians, as well as the Chagres River.

The M/V Discovery, the catamaran owned by PMA, will depart every Saturday from November through January in 2008 and 2009.

While you are in Panama, contact us to see our most recent and incredible panama land deals at www.panama-land-for-sale.com.  Our investment properties are economical for retirees and those simply wishing to move to Panama!

Bigger Expansion in Panama: Good News for Land Development?

It was announced on Monday that the Panama Canal may merit even larger expansion than currently planned.  Andrew Beatty, of Reuters reported that due to the current cargo levels, the ‘waterway’s $5.25 billion expansion may not be enough in the long term’.

The Canals traffic is expected to increase 3% annually over the next three decades.  Absolutely amazing…..

Rodolfo Sabonage – who is the head market analysis of the PCA made statements to the effect that much of the growth is due to Chinese exports heading to areas of the eastern United States..

Currently, expansion efforts are due to occur through the year 2014.  Further expansion and more locks could be in jeopardy due to the United States economy, yet the trade from China is apparently compensating for these factors…

This can only mean great things for our growing area of Panama City….Don’t miss out – check out our land investment opportunities at www.panama-land-for-sale.com.  We have both residential and commercial properties for sale!

Panama Canal and Tampa Port Authority to Increase Development

It was announced today that the Panama Canal and the Tampa Port Authority have formed a strategic alliance in order to promote an ‘all-water route’. 

According to the release, “the partnership will increase trade, facilitate information sharing and promote the ‘all-water route’”

This is a solid move that reaffirms a Memorandum of Understanding between the TPA and the Canal that was originally signed in October 2005 in order to boost trade from Asia to the U.S. via the Canal.

The Tampa Port Authority is the largest Port in Florida and handles over 50 million tons of cargo each year, including “liquid and dry bulk, break bulk, cruise, as well as shipbuilding and repair”. 

This is great news for he development of both Tampa and Panama City.  Tampa’s growing container business and for Panama’s expanding Canal – both areas among the fastest developing in the world.

With this arrangement will come more jobs and more people moving to Panama.  We are excited about this news and how it will affect our land developments.  We are offering incredible Panama land deals.  Check out our site at www.panama-land-for-sale.com to see our properties and find out more about living in Panama.

Panama Land Investments Delivering High Yields

This week, the prestigious International Living magazine’s Ronan McMahon featured an article on global real estate prices and where to find the highest yields.  Panama City, Panama was listed as #1.  The magazine claims that Panama is “delivering among the strongest and most reliable rental returns”.

The article also speaks in detail about hotels seeing such an influx of traffic that prices have been raised as high as 50-80% than that of a year ago.  Panama has become a hot-spot for both Americans and Europeans.

The country has flexible options for those wanting to move to Panama, and the real estate prices are so economical that many business have begun to move to the region as well. 

The magazine goes on to predict that the increase in visitors and residents will continue for the next five years.

The hotels are actually beginning to sell condo-hotels that are “suitable for short-term rental”.  The hotel takes care of the premises, and profits between the hotel operation and owner are “as high as 70/30 in favor of the owner”.

Click here for the article.

This definitely speaks for the affordability that Panama warrants.  Panama Land For Sale is offering affordable land deals that allow you to economically build the home of your dreams!  Check out our website at www.panama-land-for-sale.com to check out our current specials.  Come join us as a Panamanian resident!

Miss Panama City Competes in Miss Universe, Represents Developing Panama Real Estate…..

This week, handicappers were indicating that our own Miss Panama had a substantial chance of obtaining the Miss Universe crown.  For those interested, odds are 10-1 in favor of Carolina Justavino.

Carolina is representing our great country this Sunday, and we are hoping to see the professional model, TV host, and law student advance as THE most desirable candidate for Miss Universe. 

Carolina is, from our consideration, the perfect candidate for Miss Universe.  An avid sportswoman and Panama native, Ms. Justavino also maintains her own real estate development business in order to continue development in Panama, due to its “excellent geographical location”. 

Are you interested in Panama’s developing real estate market?  Check out our deals at www.panama-land-for-sale.com to see all of our properties!  

Panama’s Maritime Development Encouraging for Land Owners

According to Reuters, Panama can expect its business with shipping containers to increase up to 10% in the coming year. 

The volume of containers over the past three years are:

5.6 million containers in 2009

5.0 million containers in 2008

4.1 million containers in 2007

These numbers are more than double the volume of 2006.  This can be attributed, in part, to Chinese demand for goods.

Maritime authority chief, Fernando Solorzano is now calling for accelerated infrastructure and planning in order to meet the increasing demands of the maritime industry.

Currently, Panama plans on spending about $1.6 billion for future maritime upgrades, and possible dealings with China. 

These will be beneficial attributes for further land development in Panama.  Visit us today at www.panama-land-for-sale.com to check out our latest land and property investment opportunities!

Panama Development Owner Wants Land Back

The News Herald published a story today by Jeremey Morrison regarding Bayou Park, located below 11th street in Panama City.

The land owner, Kenneth Brown, had originally deeded the property to Bay County for $1 in 1976. However, Brown is not pleased with the way the park is being used, claiming that it originally was designed as “a natural spot by the water’s edge where the community could gather.” Instead, he describes it has become “an unlawful activity location”.

Brown wants the park closed and the land returned to him, citing that it will “clean up the community”. The city planning commission will have the final say and will also determine the price if the land is to be returned to Brown.

What do you think? This blog is all about Panama land development. Visit us at www.panama-land-for-sale.com to see our list of properties available.

Panama Land For Sale - Special Deal for Land Investors!

www.panama-land-for-sale.com is offering a special for retirees, or those just wanting to invest or move to Panama….We want to make it worth your while.

We are running a special on our Vista Grande property development. Vista Grande is located about 1 hour, 15 minutes from Panama, and about 5 minutes from Colon. The development houses a dude ranch, birds, monkeys, rivers, beaches, and mountain views. The development is located about 3500 feet above sea level overlooking the Nombre de Dios.

With a $10,000 cash deposit, we will offer the first 30 lots for $40,000 each. The lots are normally priced at $69,000 – we are offering you a 42% savings!!!

Additionally, we are running a promotion where one of the first 20 investors – through a random drawing - will get a free lot at the Vista Grande site property. The free lot will be a 400 sq ft lot – 100 sq ft with ocean view, and 300 sq ft with mountain views.

If you are interested in land deals in Panama, contact the following:
In Panama, call Daryl Patrick at 65083350.
In the U.S., call Maria at 954.917.2332, or Shannon at 305.830.2625.

As always, you can use our contact form at www.panama-land-for-sale.com for more information.

Panama Cruises

Are you still tentative about experiencing Panama for the first time?

Think about a cruise!  Cruises enable their passengers to take advantage of a variety of activities and experience a number of different locations.  Taking a cruise on the Panama Canal, and traversing from the Atlantic ocean to the Pacific ocean, is a natural spectacle. 

By taking a cruise, you are able to enjoy your vacation to Panama – it takes away the concern of finding and arranging accommodations or setting up an itinerary.

Because of the work being done on The Panama Canal, the number of cruises to Panama is increasing.  Most cruises allow you to have access to 60 of the top beaches along the coasts as well as Colon’s world-class duty-free shopping

Let us know when you are thinking of visiting Panama – we want to convince you to move or retire here!  Visit our land deals at www.panama-land-for-sale.com for more information!

New Growth Announcements This Week....

This week, a couple of announcements were made that are sure to be beneficial for the country of Panama.  

First, next year, there will be a highway opened that connects Colon to Panama City.  This will provide a number of new jobs - most likely in the tourism trade - for locals in Colon.  There are also cruise lines that are signing up to use Colon as a base.  

Secondly, Chevron has announced that it plans to double its storage capacity at Las Minas, immediately outside of Colon.  The company has already invested $13 million in order to raise the capacity to over 2 million barrels at the facility, and future growth is anticipated.  The reasoning for the expansion is due to the increasing number of vessels utilizing the Panama Canal.  

These growth plans will do nothing but grant continued economic development and security to the area.  Are you thinking about retiring or moving to Panama?  Visit us at www.panama-land-for-sale.com to view our properties for sale and to read more information about living in Panama!

What to Do on the Weekends in Panama

At www.panama-land-for-sale.com, we are often asked by potential buyers what you can do on the weekends.  Aside from the beaches and casinos, our recommendation is to go down to Calle Uruguay. 

Calle Uruguay, particularly between Calles 48 and 49, has a multitude of popular clubs and restaurants.  The weekend begins on Thursday evening, and there are a number of happy hours that offer drink specials.  The TGI Fridays is a surprisingly popular spot for the young and single, and the popular clubs don’t get going until late hours and are open until early hours.

Are you thinking of moving to Panama?  Let us know!  Ask us about our current offers and check out our site at www.panama-land-for-sale.com