Trump Ocean Club, Panama City – PANAMA

Panama Ocean Club
Panama City
Panama
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Bedrooms: 1
Bathrooms: 1
Property Type: Residential
Property Status: For Sale
Description:

Property Highlight

  • International Real Estate

Property Description

Unit 1 Lot # = 1921Unit Type = Hotel Condo Studio Floor
Locator = 19th
Floor Sq Feet = 517
Purchase Price = USD 295,000

Unit 2 Lot # = 2423Unit Type = Hotel Condo Studio Floor
Locator = 24th
Floor Sq Feet = 507
Purchase Price = USD 295,000

 

This particular unit is an especially great value considering that these units are currently be sold by the developers for $445,000! This is your chance to get your own spectacular unit at prices well below developer prices.

Located in the international hub that is Panama City, this project will usher in a new standard of elegance and architectural beauty that will rival or surpass even the most sophisticated destinations in the world, at a fraction of the cost! This unit can also be included in the hotel’s nightly rental program, so considering that the entire City of Panama regularly boasts occupancy rates of 80+%, this unit will also be a great way to accumulate regular income for the owner. Location- A privileged place with direct, fast, and easy access to the most important points of Panama, in just 10 minutes of the International Banking Center, 3 minutes of the better shopping Centers of the city, 2 minutes of the new Hospital John Hopkins and 15 minutes of the Tocumen International Airport.

TRUMP OCEAN CLUB PANAMA CONDOS PROJECT Trump Panama consists of approximately 186.000 mts2 (2 million sq ft.), and is located inside an artificial peninsula in the Bay of Panama, with a total of 14.000 mts2 (150,695 sq ft.) of land.

The use of the Project is predominantly residential with only 200 units of Condo Hotel. Also included as part of the Trump Plaza development is a Yatch Club & Pier, Beach Club, International Casino, Business Center, Wellness Spa, Gymnasium, Pool Deck, Gourmet Plaza, Boutique Shops and all the support services for a residential complex of this great magnitude.

Features and Amenities include: * Furnished * Appliances * Studio Room * Pool * Gym/Spa * Terrace * Cable TV * Ocean View Trump Ocean Club Panama Condo Hotel – Project Amenities * 70 Story Building * Condo Hotel – Studios And 1 Bedroom Units (Fully Furnished) * 8,069 Sq Foot Wellness Spa Featuring, Massage Rooms, Aquatic Areas, Cascading Baths, Yoga In Stress Free Environment. * Pool Deck * Boutiques & Shops * Gourmet Plaza * Yacht Club & Pier * Business Center * International Casino With Blackjack, Poker, Slot Machines, Roulette, and Nightly * 8 To 10 Restaurants * Private Yacht Charter * Yacht Pier With Refueling Facility * Jet Ski Rentals * Private Fishing Chatter * Private Beach Club With Bars, Beach, And Privacy Pools On Contadora Island (15K Mandatory One Time Membership Fee) * Airport Shuttle Even Vip Limos * Golf Course Shuttles And Possible Discount On Greens Fees * 9 1/2 Foot High Ceilings * Washer And Dryer In All Condo Units * Condo Hotel Units Will Be Fully Furnished Up To 4 Or 5 Star Standards. * Stainless Steel Appliances In Every Condo Unit * All Units Will Have Water Views * Grocery Delivery Services * Shuttle To Shopping Malls * Wi-Fi Internet Connection With Height Tech Concierge Service System * 4,400 Sq Foot State Of The Art Technology Business Center

The membership to Private Beach Club at Contadora Island is not included in the price above. The membership is USD 15,000 and will be sold separately on closing.

Economist.com is the online version of The Economist newspaper, an independent weekly international news and business publication offering clear reporting, commentary and analysis on world politics, business, finance, science & technology, culture, society and the arts.

GLITTER AND GRAFT
Jul 19th 2007

A country revamped as a service hub grows at Chinese rates

COMMUTER traffic crawls along Avenida Balboa, the coastal road that is
the spine of Panama City, slowed by thousands of new cars. In the
city’s wealthier districts restaurants are packed, and it is hard to
find a street without a skyscraper under construction. While some of
its neighbours in Central America struggle with commodity-based
economies, Panama is busy reinventing itself as a regional logistics
and services hub.

That was a position it enjoyed in the 1970s, when an offshore financial
industry briefly flourished. Then came the dark years of Manuel
Noriega, a thuggish strongman toppled by an American invasion in 1989.
Several undistinguished governments followed.

Several things have now come together to produce an extraordinary boom
in Panama. The economy will expand by 11% this year and by over 9% in
both 2008 and 2009, according to a forecast by LatinSource, a
consultancy. That is faster than anywhere else in Latin America.

The first was the transfer of sovereignty over the Panama Canal in
1999. Since then, the canal has been run as a Panamanian business,
rather than a branch of the United States’ federal bureaucracy.
President Martin Torrijos, who took office in 2004 (and whose father, a
military ruler, negotiated the canal handover in the 1970s), pushed
through a referendum last year which approved a $5.2 billion plan to
expand the canal, doubling its capacity and enabling it to take much
bigger ships. Work is due to start in August.

Other big projects are planned in the wake of the canal expansion.
Occidental Petroleum, in partnership with Qatar Petroleum, plans an oil
refinery, costing $7 billion, at Puerto Armuelles. A consortium led by
Hutchison Whampoa, a Hong Kong company, plans to turn Balboa into the
largest port in Latin America. China’s government-owned shipping
operator, COSCO, is competing to build a second mega-port on the
Pacific coast–even though Panama recognises Taiwan. Copa, a local
airline, aspires to turn Panama into an alternative regional hub for
travellers deterred by the security hassles of Miami airport.

The second factor is that Mr Torrijos’s government has been rather more
effective than its predecessors. He has cleaned up the public finances,
pushing through an unpopular reform of social security. He actively
courts foreign investors. He has negotiated a free-trade agreement with
the United States, which Panama hopes will soon be ratified by the
American Congress. But he also has close ties to other regional
leaders, including Cuba’s Raul Castro.

This week Spain’s prime minister, Jose Luis Rodriguez Zapatero, was the
latest foreign leader to drop by, with a coterie of businessmen in tow.
New foreign direct investment more than doubled in 2006 compared with
the previous year, accounting for 16% of GDP–a share that is twice as
big as in any other country in the region, according to the UN Economic
Commission for Latin America and the Caribbean.

The government has finally got around to developing the prime land
once occupied by American military bases in the former Canal Zone. The
UN is moving its regional headquarters into one; another will become a
technology park. Last week the government signed a contract with London
& Regional, a British property company, which plans to build housing
and industrial units at the former Howard Air Force base. Some of the
new housing is aimed at American retirees, who are flocking to Panama.
Donald Trump, an American property developer, is planning a 68-storey
hotel and resort.

But as the developers pile in, not everyone is cheering. Some worry
that the property bubble will soon burst. Others note that a weak
education system does not produce enough engineers or skilled workers.
Contractors are likely to import skilled labour from abroad. But with
40% of Panamanians still living in poverty, and unemployment at 8.6%
last year (though falling), that will not be popular.

A handful of families continue to control much of the country’s wealth
and benefit from cosy ties to government while most Panamanians
struggle to make ends meet. Mr Torrijos proposes to increase the
minimum wage of $300 a month. American diplomats worry that if the
benefits of growth don’t filter down, the resulting sense of injustice
could fuel political radicalisation.

A bigger, related, worry is corruption. Foreign firms are beginning to
complain that they are hampered by the informal links between
government and local business oligarchs. Sam Taliaferro, an American
who runs a property business catering to foreign retirees in Boquete, a
hill resort, says that corruption threatens to choke off foreign
investment. With three-dozen other investors, he has formed a group to
campaign against what he sees as the gouging of foreign firms.

Though Mr Torrijos’s government has a cleaner record than its
predecessors, it has not been scandal-free. An uncle of the president
controversially acquired vacant land, and went on to destroy protected
mangrove swamp without the necessary permit. It is hard to judge how
deep corruption goes, or how much of an impact it may have on foreign
investment. But if Panama’s boom is to propel it swiftly to
developed-country status over the next decade or so, it would help if
it rested on a stronger institutional foundation.

See this article with graphics and related items at http://economist.com/world/la/displaystory.cfm?story_id=9519426

Daniel Coombs ph. 407-247-6777 e.mail daniel@danielcoombsPA.com

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