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Newest Additions
Exclusive condo in great location
$0
2 Acre Bayside Parcel for Sale in Punta Chame
$820,000
$0
Spectacular oceanfront unit
$250,000
Brand New Condo by the Bay
$285,000
Sky Blue Tower
$0
115 hectares of lake front
$4,000,000
Newly constructed house close to the Beaches
$160,000
A corner of the highly appreciated Pedasi peninsula, with ocean front
$23,000,000
1/2 Acre Ocean Front Lot
$39,900
Approved Condo Hotel Project for Sale with private beach access
$2,600,000
Ideal property in the heart of Bella Vista, for demolishing and building a tower with bay view
$2,790,000
Duplex in Green Valley
$305,000
Excellent price for apartment in Costa del Este
$500,000
Great apartment in Costa del Este
$649,000
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Report on Panama as 2008 Draws to a Close
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By Bob Adams - retirementwave.com
On February 3rd of this year, I posted a commentary still here at the site [in the Members section] titled, "Looking Forward in Troubled Times". You can consider this to be an extension of that commentary. A few sentences from that commentary led to a greater membership response than anything else I have written. This is what I said.
If the recession deepens, as many expect, will Panama be a good place to live when it happens? I answer that question in my actions, not just words. I moved here, in part, four years ago because I was concerned that a global recession was on its way and that it could be pretty serious. I live here today and intend to continue to live here, in even larger part, for the same reason. Let me put it this way. If I am standing in the middle of the tracks, as I felt I was in the US, watching a huge freight train coming right at me, ever faster, ever closer, I may jump the in the wrong direction. I may not jump in time. I may feel some of the pain even if I clear the tracks. But I'm going to jump. I have no intention of staying in the center of the tracks. I believe I would have felt the same way had I been living in Canada, Europe or any "wealthy" nation. But neither was I going to jump into some kind of isolation, depriving myself of so much that makes life worth living. I'm not trying to hide. I don't think that is possible. I'm just trying to get out of the center of the tracks.
Well, folks, the train wreck is underway. It is a long train and we can expect to feel its impact for a long time to come, but more so in some parts of the world than others. By the time you have finished reading this, I trust you will understand what I mean by that, particularly in regards to Panama.
I am not going to get involved in a discussion of what or who was responsible for the current financial crisis. There are plenty of websites that will be delighted to share their thoughts on the topic in great detail. That is not my purpose or the purpose of this site. However, I will mention three very simple factors critical to understanding how so many nations got into this unfortunate mess.
1) Ignoring their own experience, intelligence, and simple common sense, many financial institutions handed out money foolishly and irresponsibly.
2) Ignoring their own experience, intelligence, and simple common sense, many consumers took it, just as foolishly and irresponsibly.
3) Ignoring their own experience, intelligence, and simple common sense, many governments did nothing to intervene, but facilitated this foolish and irresponsible behavior.
I suspect including that second item is going to lead to some angry emails, but, folks, we are all ultimately responsible for ourselves and we have to learn the very nasty lesson currently being taught to all of us.
[ more ]
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British company develops former US base in Panama
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PANAMA CITY, Panama (AP) — British company London & Regional Properties has begun transforming a former U.S. air base in Panama into a residential and commercial complex.
The $700 million Panama Pacific center will include 20,000 homes and 11 million square feet (1 million square meters) of commercial space. The 40-year project is expected to create 40,000 jobs.
President Martin Torrijos said Thursday at a ribbon-cutting ceremony that the project shows Panama can still attract foreign investment despite the global economic crisis.
Howard Air Base closed in 1999 as Panama took over control of the canal from the U.S.
Panama is in the midst of a real estate boom. Developments include Donald Trump's $400 million high-rise casino-hotel.
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Panama Government To Expand Airports in the Interior
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Internationalization is not limited to one single location and other sites are included in the plan, such as the Enrique Malek airport in the city of David that already receives flights originating from Costa Rica. At the moment the runway measures 2,100 meters in length, but the objective is to expand it to 3,000 meters which would improve the airport's capacity and allow for the landing of much larger aircraft.
What still remains to be decided on the part of governmental authorities is who will administer the infrastructure of the expanded airport, which at the moment is under the control of the government. Right now they are considering the possibility of either passing the airport to private hands, or to establish some kind of a mixed administration - both government and private business. COPA supports the business model being used in the Tocumen International Airport, saying it's the most efficient. Due to physical limitations there is no possibility of extending the airport at Bocas del Toro, but the flow of tourists could come in more directly through interconnections from the airport in David.
The island of Bocas receives the second greatest number of passengers in the interior every year, with 63,325 passengers last year, surpassed only by David with 122,940 passengers. PROJECTS The Master Plan includes the expansion of the air terminals in David, Kuna Yala, and the airport in the archipelago of Las Perlas. The Enrique Malek airport in the city of David is already receiving international flights. It is the airport receiving the most traffic in the interior of the country.
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Crisis? What Crisis?
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By Robert C. Booth
Despite the global crisis, Latin America continues to do well. And its fundamentals are stronger than ever.
The global financial crisis – while having an impact obviously – is not affecting Latin America with anywhere near the impact as it is in the United States, Europe and elsewhere. The headlines alone support our optimistic outlook about the region’s situation.
THE AIRLINE BUSINESS
Beginning with the airline business (I hate the word industry), the “model airlines” (our list of the four publicly traded airlines, Copa, LAN, TAM and GOL) – with the exception of GOL’s acquisition of Varig – are all reporting net profits and double digit margins (in some cases) in the first half of 2008. LAN…reported net income of $122 million with a net margin of 11.3 percent - and a nine month total net income of $260 million for an increase of 25 percent over the same period last year. And some U.S. carriers are also reporting profits in their Latin American operations, with the highest yield (in September of 16.1 cents per RPM) anywhere. And the airlines – both in the region and elsewhere – are all adding capacity within and to and from Latin America and the Caribbean. With LCCs, like JetBlue, Spirit, AirTran, Volaris, VivaAerobus – in Mexico, all adding capacity as they find the region provides them with the best opportunities for expansion. While “legacy” carriers from the United States, Europe and the region adding service all over the place, in many cases opening new O&D destinations in the United States.
[ more ]
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Booming Banks
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The banking center’s net accumulated assets until August 2008 amounted to US $824 million, an increase of 24.5% compared to the same period of the previous year, representing a return on average assets (ROAA) of 2.2% and a Withdrawl Average (ROAE) of 16.8%.
The main basis of funds that provide liquidity to the banking system comes from 57.6% of depositors and customers. Total deposits at the end of the third quarter amounted to US $20,428 million. Of this total, external interbank deposits increased by 40% over the past 12 months, going from US $5,891 million to US $8,280 million, according to data provided by the Superintendency of Banks.
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Construction boom continues
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| The Panamanian construction sector is keeping up an unbeatable pace. The value of permits approved between January and August 2008 amounted to US $1,104 million dollars, 52% more than the US $726.2 million recorded in the same period last year, according to the report of the major monthly economic indicators of the Comptroller’s Office.
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