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Newest Additions
Apartment for sale in Punta Paitilla
$184,000
Rainforest Home with Spectacular Ocean Views
$0
Great apartment in the best location of Via Porras
$135,000
Apartment opportunity in Mandarin Bay
$330,000
Gated community
$0
Beautiful Beachfront Lot, Playa Rincon, Los Santos, Motivated Seller
$85,000
Titled Beachfront Lot, Playa El Uverito, Azuero Peninsula
$85,000
Hacienda La Perla ,Azuero Peninsula, Pedasi, Panama
$20,000,000
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Ivanka Trump: Panama Hottest Market
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Ivanka Trump, executive vice president of development and acquisitions at the Trump Organization has lots to say about Panama’s real estate market and the 70-story Trump Ocean Club building in Punta Pacifica.
“I have projects all over the world,” she says, “and Panama is one of the strongest, if not the strongest, real estate market. Our biggest problem is not having enough inventory. We only have a small percent of the building left.” She attributes the success to “a great government that really supports developers... I’m impressed with their forward thinking in bringing in new potential residents. I’m in New York and see this as ‘escape to Panama’. I never saw that five years ago.”
Trump Ocean Club is scheduled to open next year, offering a combination of condominiums, hotel, yacht club, restaurants, stores and a casino. “Given the global downturn, the fact that sales remain so robust is a testament to the product, the brand and Panama,” Trump says. The buyers are a mix of American, Canadian and Latin Americans, she says.
The Trump Ocean is being constructed in a market with plenty of luxury condominium offers, but Ivanka Trump believes it has been able to stand out thanks to its unique design and amenities, which include a private beach club at Isla Saboga in the Pearl Islands.
But the uniquely designed building is the main draw. “In terms of quality of construction it’s unlike anything Central America has seen,” she says. “It’s a beautiful building.” She especially singles out the pools and the large rooms and suites with all fixtures and amenities. “It’s a product that meets five star standard international levels,” Trump says.
So what does Ivanka Trump see as the reasons for Panama’s success? “It’s got a great government that really supports developers,” she says. “I’m impressed with their forward thinking in bringing in new potential residents. I’m in New York and see as “escape to Panama”. I never saw that five years ago.”
Panama also offers important tax incentives. “Some of the tax incentives are incredibly luring to international [investors], especially as we in America are being taxed to the hilt,” Trump says.
And then there’s Panama’s combination of urban modernity and rural beauty. “Panama is an exceptionally diverse and beautiful country, with an urban and well-established city in addition to gorgeous resort-type destinations,” she says.
The three-year old Punta Pacifica Hospital, affiliated with Johns Hopkins Medicine International, is also a big draw, Trump points out. It is located only a few minutes away from the Trump Ocean Club. And it doesn’t have the hurricanes of South Florida, while offering prices that are less expensive. “Panama is attracting a lot of baby boomers priced out of South Florida,” she says.
The Trump Ocean Club will be managed by the Trump Organization. “We’ll be in Panama for many years after the building is ready,” she says.
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Panama Economy Holding Up
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By Joachim Bambrud
Panama’s economy will be among the fastest-growing in Latin America this year despite the global crisis.
Panama will be one of the fastest-growing economies in Latin America this year thanks in large part to the $5.2 billion expansion of the Panama Canal, the solid fundamentals of its large international banking sector and its dollarized economy, experts say.
"Panama will do well because of the large investment projects that are under way, including a massive expansion of the Panama Canal," says Standard & Poor's credit analyst Joydeep Mukherji. "The Canal expansion, along with other investment projects planned by the government in other types of infrastructure, should sustain growth."
That prognosis is impressive in light of the fact that Panama is the country in Latin America that depends most on global trade, which is expected to see steep falls this year.
[ read more ]
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Panama on OECD
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The Organization for Economic Cooperation and Development (OECD) placed Panama on the list of “tax havens” that have pledged to make changes their fiscal policies.
In the category in which Panama appears also appear as “tax havens”, Monaco, Liechtenstein and Belgium, among others, and there is a subdivision called “financial centers” that include eight countries, including Austria, Switzerland and Guatemala.
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Grocery Shopping in Panama
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By Aimee Arnold - Living Made Simple
Shopping for groceries in Panama is quite an adventure and often requires visiting several stores in order to come across all the products on your shopping list. But the great news is that with a little effort and searching, just about every food product one could desire can be found here!
There are three main super markets: Riba Smith, Super 99 and Supermercado Rey. I shop at them all for various reasons. Riba Smith has the best imported pre-packaged frozen foods and fantastic produce. They have the best dairy selection in town. It’s the only place I’ve found to carry half & half, Yoplait brand yogurt and real butter.
Super 99 is my choice for household cleaning products. They also have a generous selection of imported food products and economically priced Tupperware containers and kitchen items.
The supermarket I shop at most is Supermercado Rey. They are good at capturing the market because of their strategic locations and their selection is usually sufficient. My family loves sharp cheddar, and at $4 or more for the name brands, it can get somewhat expensive. Rey carries a brand that is more economically priced.
Bulk-priced items are available at PriceSmart, like Costco and Sam’s Warehouse in the states.
For those moving from Europe or New York City, there are little specialty markets in Panama. At Deli Gourmet you can find all sorts of fancy vinegars and infused oils. They also have rare items like anchovy paste for making Caesar dressing. I find the best beef cuts at Meat’s Gourmet in Bella Vista. They carry the best selection of choice cuts and US imported ground beef.
When it comes to having guests over, Felipe Motta is my choice for finding great wine and spirits for the imported beers and specialty liquors.
For bread, the best in town is without a doubt Petit Paris. They have wonderful croissants, brioche, multi-grains and of course, French bread! Since they don’t use preservatives, most of their breads are best eaten same day. There is also a nice little bakery located in the City of Knowledge called Pan & Canela.
There is a “fruteria” or “fruit store” that I like to shop at called M/S Fruteria Mini-Max located in the Bal Harbor Plaza in Paitilla. The Mercado de Abastos is the biggest fruit and vegetable bazaar in Panama. It’s an experience that everyone should have at least once. And the same goes for the Mercado de Mariscos. It’s the top place in town to find truly fresh-caught seafood.
Last but not least is Organica. They offer a variety of wholesome and organic goods, and products for special dietary needs.
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New Mall Under Construction in Coronado
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The growth of Coronado and the surrounding Pacific beach communities is reaching new heights. A new strip mall is under construction at the turnoff to Playa Coronado from the Inter American Highway.
Coronado Mall will be completed in 2010 and will have 35 commercial spaces, 10 spaces for food court and a business center.
The three story structure will have 150 parking spaces in the main lot and 100 additional spots underground. It is located on the right hand side as one turns off the highway to the beach and there is already a McDonald’s open in an area which will incorporate with the rest of the project when it is completed.
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