By Sophia Banay for Forbes - Here’s a resolution you won’t mind making: Travel better this year. And we don’t just mean buy trip insurance and pack your toothbrush. Instead of resorting to the same, time-worn vacation spots, resolve to make 2007 a year you’ll remember because you visited a tropical butterfly park in Honduras, went hot air ballooning over Namibian sand dunes or got a two-hour marine mud massage at North Island resort in the Seychelles–not because you stayed with Gramps in Palm Beach again. According to the Washington-based Travel Industry Association of America, the international travel and tourism industry experienced strong growth in 2006, and additional expansion of 4.6% per year is expected over the next 10 years. Thanks to a stable economy, steady wage increases and the lack of any major recent terrorist attacks in popular vacation spots, Americans in particular have indulged their wanderlust. And in 2007, industry experts say the most popular trips will have one thing in common. “The emphasis really is on experiential travel,” says Misty Ewing, the director of public relations at Texas-based Virtuoso, a luxury travel network. “People are looking for more authentic experiences and ways to immerse themselves in local cultures. Now, I think that when people go on vacation, they really want to learn and know the destinations they’re visiting. They want to experience it to its fullest extent.”
Perhaps not surprisingly, eco-tourism is a big part of this trend. Ewing cites countries like Nicaragua, Guatemala and Panama, whose natural resources and wildlife put them front and center for American travelers in 2007. Of course, to offset the human impact of all that traffic, and preserve their rain forests and habitats, many of these countries have introduced resorts powered by sustainable energy and built with renewable resources. In Panama’s northern coast, for example, the Punta Caracol Acqua Lodge was built using local materials like clay, bamboo and wild cane, and solar panels and bio-digesters, which clean waste water, are located in each of the nine cabins.
Another big destination for 2007 is Laos, where a series of new luxury hotels is making old cities attractive to a new generation of travelers. “I just came back from Laos, and I was totally surprised at the quality of the accommodations,” says Pallavi Shah, founder of New York-based Our Personal Guest travel agency. “It’s different and laid back–what Vietnam was.” Shah visited Luang Prabang, Laos’ formal royal capital and a UNESCO World Heritage site since 1995, and observed local craftswomen working in textiles, silver and wood. The accommodations in Luang Prabang, however, are surprisingly modern: Shah recommends La Résidence Phou Vao, an Orient-Express resort with views over the surrounding mountains and rivers.
Once again this year, Forbes.com has compiled a list of where we want to go in 2007–and where you should, too. We spoke to industry experts and a few of our favorite globe trotters to find out what’s hot this year, from wine tasting in Argentina to dune surfing in Africa and everywhere in between. For each destination, we tell you where to go, what to do there and what a round-trip plane ticket from Manhattan will cost. (Note: Airfare reflects flights booked the second week of February from Manhattan to the country’s capital and were current as of press time.)
Bon voyage.
In Pictures: Our Top 10 Travel Destinations
Panama: Best Eco-Tourism - At Punta Caracol Acqua Lodge, built along the mile-long coral reef off the country’s coast, the nine cabins were built of local, sustainable materials like clay, bamboo and wild cane and incorporate renewable energy in the form of solar panels and bio-digesters, which clean waste water. And at Canopy Tower Ecolodge and Nature Observatory, guests stay in rooms at tree-top level, bird watching above the Soberanía National Park. From New York: $560 on United and COPA Panama
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News Blaze.com - Canopy tours can be an amazing addition to your family vacation to South and Central American destination such as Panama. If you are looking for an adventure travel experience you will never forget, nothing equals these Panama attractions. During these tours you will glide through the treetops, above the crystal clear rivers and ancient waterfalls that comprise the landscape of Panama. One great location to attempt canopy tours is Lago Gatun, the manmade lake that forms a large part of the Panama Canal. Lago Gatun is a large lake covering 164 square miles. With the creation of the lake many hilltops around the Panama Canal became islands. The biggest and best known of them is Barro Colorado Island, home of the world famous Smithsonian Tropical Research Institute. Melia Panama Canal, a luxury resort on the bank of Lago Gatun offers canopy tours of this amazing area. From their website www.MeliaPanamaCanal.com: Glide among the treetops on a zip-line crossing Gatun Lake. Two qualified guides accompany guests on all canopy tours and take adventurers through four zip-lines on Isla Bananas, crossing Gatun Lake and finishing right at the Meli Panama Canal pool. (more)
How it Works
A harness and an ultra-resistant steel cable are used to help you defy gravity as you take in the sites and soar through the trees of the Panama area.
Because of the fact that it is just you, a harness, and a cable it is important to make sure every safety precaution is taken. That is why qualified canopy tour operators like Melia Panama Canal are preferred. The equipment and the steel cables that canopy tours use can easily resist the size of any human. The harness supports 2,000 pounds and the cable, 10,000 pounds.
How to Prepare
It is suggested that you where long pants, a sweater, boots or any other type of closed shoe. You want to cover as much exposed skin as possible. Most tours will let you bring a child over six, but it is fair warning that a young child may change their mind once on the platform.
Overall canopy tours can be an amazing thing to share with your family on your tropical Panama vacation or anywhere else in Central and South America. Make sure you prepare and understand exactly what you are getting into before you take on the task, so that you can be assured a great experience.
(End Article)
Need A Guide?: Give me a call at (507) 399-4750, cell (507) 6614-0451 or email me at don@panama-guide.com
SOURCE: Don Winner @ Panama-guide.com
Someone recently asked a question about the Red Frog Beach Club in Bocas. Here’s a response posted to that question:
Posted by “Susan”
I have not heard any “dirt” on the developers of this project and have no reason to believe that they have done anything wrong.
However, I hope your brother is not even THINKING about buying into anything “sight unseen.” That is the height of stupidity. If he is, you should tie up him up and put him in a closet until the deprogrammers arrive.
The development at (not on, it cannot be ON Red Frog Beach, because the beach belongs to the government) is one of those very large, very ambitious, upscale “levittowns in Paradise.” I have watched those things start and start and start and ……for 12 years, first in Belize and now in Panama. They never turn out as promised, because those things just don’t work on small tropical islands. (And its a good thing that they don’t, usually… because the ecosystem cannot sustain huge consumption-oriented communities.)
The primary reason that these developments never turned out as planned is that the kind of people who want to live in Irvine soon find out that the Central American tropics are NOT IRVINE. The doctor and hospital are not down the road, there is no Saks Fifth Avenue, no theatre, no five star restaurants, no golf course, no five star hotels to guest visiting relatives and friends, and none of the other amenities that people who are drawn to “planned communities” are looking for. And there never will be. The business who would run the stores, marinas, medical centers, etc. don’t invest because there are not enough people living there to justify the investment and the people don’t move in because there are no amenities. And remember that things like yacht clubs and marinas require concessions and right now the government seems to be holding back on granting them, especially for big projects, while at the same time threatening fines on people who build before the concessions are actually awarded. There are two projects on the water in Bocas that have had stop orders issued in the past couple of weeks right now. Large projects like this are prime targets.
The project itself looks lovely. If you don’t mind buying into it, knowing that the marinas, restaurants, shops, medical centers, etc. etc. that are promised will never be built, its a nice place to live (or have a vaction home, if you can afford it.) The houses are seriously overpriced and not really built for the tropics, but if that’s your kind of thing, fine….And while I have not seen the CCR’s I will bet money that they are very very “controlling.” Why come all the way to Bocas if you want the homeowners association to run your life? You can do that in Irvine….
One issue that I really don’t know enough about to have an opinion of is that there is some controversy about the promximity of some of those big planned projects on Bastimentos to the marine park. It will probaby not ever come to anything but the government has been making noise about “expanding” the marine park for environmental reasons. I don’t know if this project is in that immediate area or not. But its something I would want to have a lawyer look into before buying in.>br>
Here’s the link to their web site: http://www.redfrogbeachclub.com/
Please note that as far as I know, the pics are mostly “concepts.” That means that nothing has been built yet. There ain’t no resort, no villas, no marina……
Their concept (to avoid the typical “they buy but don’t build” syndrome as in Isla Solarte) is that you must buy the house when you buy the land. In other words, they are using your money to finance their project. An investor should seriously investigate their financing because even with the best of intentions, those kinds of things sometimes go belly up because the developers spend your pre paid money for the basics and there is nothing left to build your dream home. That is not to say that these folks are dishonest or would deliberately do such a thing, but these kinds of leveraged deals often turn out that way. These people may have money up the wazoo but don’t assume that is the case.
(Further discussion about the RFBC)
In a message dated 11/24/2004 2:28:10 P.M. Eastern Standard Time, gekko@flex.com writes:
IS is lovely, but…..no water (catchment only) and the developer has his hand in EVERYTHING you do on “your” property. Also may be some ownership issues since most everything on the island is within governement limits of the high tide line. Mostly (if not all?) ROP rather than titled property.
In a message dated 11/24/2004 8:20:48 P.M. Eastern Standard Time, susanagg1@yahoo.co.uk writes:
I wouldn’t touch Isla Solarte (the planned community not the whole island) with a ten foot pole. There are a multiplicity of lawsuits against the developer for fraud. The CCR’s are, according to many unhappy buyers, oppressive and designed primarily to keep the developer’s hands in your pockets in perpetuity.
I don’t know that much about the Red Frog Beach development. I haven’t heard anything negative about the deals or the developers. I am not sure that all the amenities they are talking about (yacht clubs, restaurants, shops, medical centers, etc.) will ever come to fruition, they usually don’t on tropical islands, but on the other hand, they are rumored to have unlimited financial resources (which is what it would take to do all that stuff). It’s a pretty place, one of the nicest locations in the islands.
But the most important thing for you to decide is whether you want to live in a community where your freedom is drastically curtailed by CCR’s. Do you want someone telling you whether you can have pets, what kind and how many, whether you can put up a satellite dish, what color your house has to be, whether you can build a dock or not, etc. etc. etc. Personally, I couldn’t tolerate that. If I wanted to live in Irvine, I would live in Irvine. Little Irvines in Panama don’t cut it for me. But that’s me. Maybe you are different. But if you do, make damnh sure you read the CCR’s carefully before you sign on the dotted line. Don’t fall for the “we haven’t written them yet, but they will just be to protect the environment, so sign here” scam.
In a message dated 11/25/2004 9:05:39 A.M. Eastern Standard Time, jcarlson@cwpanama.net writes:
amen, susan…
let’s start with the basics - any contract (like, land sales on solarte and anywhere else in bocas del toro) written in panama for panama property must be in spanish…check it out…
i can’t quite believe that the clowns are still operating…i figured they’d go the way of mcmurrain any time…
bocas (and all the charlatanism) is a topic of major concern for the new government…
SOURCE: Don Winner @ Panama-guide.com
In a message dated 11/15/2004 3:45:56 PM GMT Standard Time, hslanham@aol.com writes:
Barb, We live in Altos del Maria. It is an hour and a half, more but not much less depending on traffic and the weather. In the start up stages of whatever you do here, you will have to go to the City once or twice a week. We usually go to Coronado about once a week as well for groceries and hardware and the restaurants.
About 85% of the owners here are Panamanians, and they are here on the weekends and holidays. Most of the ex-pats are from the states but so far I personally know owners from South Africa, UK, and Argentina as well.
.
The full-timers in Altos for the near future will be mostly ex-pats. Most of our Panamanian friends here are not quite ready for retirement. But this is where they plan to live when they do retire. There are only about 10 full-time households here at the moment. But many new houses are being built and even more are on the drawing board. .
.
There is quite a difference between life and the City and life in Altos. The biggest advantages for us are the cooler weather, the scenery, the lack of noise, the lack of traffic, and the space. The advantages of the City are the usual: entertainment, restaurants, shopping, and a closer ocean view if you live on the water. You might try renting in both places for awhile..
.
HLD
SOURCE: Don Winner @ Panama-guide.com
Last night I sat down to discuss the new Tucan Country Club & Resort that’s being built on the old Horoko golf course with Mr. Dinesh P. Vaswani, the Vice President of Marketing for the project.
First of all, by way of disclaimer, Dinesh decided to sponsor Panama Guide. You can see this and all donations to Panama Guide at any time. We list our sponsors to let everyone know who’s paying our bills, and to help you sort out the truth and bias.
That having been said, the Tucan development is positioned nicely. They plan to completely rebuild and redesign the old golf course. Personally, my first reaction was one of sorrow. I’ve played Horoko hundreds of times, and basically I’m going to miss the place.
But, as Dinesh correctly explained, there were some serious problems with the design and layout of the Horoko course. Drainage was terrible, for example. I remember (several times) hitting a drive on the 4th hole right into the middle of the fairway, and seeing the ball just disappear into the muck.
The guys that are rebuilding this golf course are the same ones that built the course at Summit. They’ve had the experience of building the Summit course, and five years experience managing the existing course once it was built. They are extending the existing Horoko course from a par 70 to a par 72, and are going to spend more than 4 million dollars to do it right. It looks and sounds like the golf course is going to be very nice and well done. And, it’s not just a tweak here and a tweak there. It’s a complete rebuild of the course.
They will be building three types of houses; stand-alone single family homes (”Villas”), townhomes, and condos. The smallest lots for the single family homes are about 500 meters in size and they range up to about 800 meters. In some areas, especially on hillsides with great views, they will build “Terrace Condo’s” which means they are basically built into the naturally occuring side of the hill slope to allow for better views and ventilation.
The best part about Tucan is that it’s just across the bridge from Panama City. Now, at one point in time I lived on Howard Air Force Base and had to drive across the bridge every day during rush hour to work on Albrook Air Force Base. Driving that bridge can be exciting, to say the least. If there’s an accident or some other problem, then traffic can back up pretty quickly.
But according to Dinesh, they are not primarily trying to sell their properties to younger people who would have to commute to work across the bridge every day. They are primarily designing Tucan as a retirement community, and expecting to sell to people who are not tied to a rush hour drive.
But even then, Tucan sits directly between the Bridge of the Americas and the new Centennial Bridge. With the completion of the new bridge (if they ever get the access roads done) residents will be able to use either bridge to get into Panama City.
The construction style, method, and materials will be “standard” for Panama. That means poured cement foundations, columns, and floors, with concrete block interior walls and stucco finish, with red tile roofs, quality interior floor tiles, and tiles on the walls in the bathrooms and kitchen.
The golf course will be a private course. That means that residents are required to buy a membership for $10,000 when they purchase their home, and then pay a $180 per month maintenance fee for the upkeep of the golf course. But, as a dues paying member and resident you can play all the golf you want with no greens fees or additional charges. So, if you’re a golfer, then this place is for you.
In addition to monthly dues for the Country Club, residents will have to pay a monthly maintenance fee of approximately $1.25 per meter of construction. So, if you’re in a 100 meter condo your monthly fee would be $125 per month. The bigger your house, the more you pay. That fee pays for your cable and high-speed internet connection, maintenance of the common areas, 24-hour security, fire and emergency monitoring, and full resident services for doing things like paying phone bills and the like. They are going to install their own satellite dish farm and will be providing stateside programming direct from the US, as well as high-speed Internet connections.
But what I like the most about the land is the view. There are several high points and hills where you can see the bay and Panama City, with breezes coming in off the ocean. I can remember lots of times, when playing at Horoko, that I would just sit on the top of the hill between #13 and #14, let other groups play through, and just enjoy the view. The land they are on is tucked up against the side of the jungle, and there are “critters” all over the place. Birds and cute stuff, sure, but also iguanas, snakes, and the cayman that used to live in the lake between the fairways on #3 and #4. The developers are taking an ecologically friendly approach, keeping all of the existing trees, and trying to blend in as best possible to preserve what they have.
There will be a total of 424 residences in the complex, all built around the par 72 golf course and a 100-room hotel and resort. They have not decided yet if they want to put a casino in the hotel, but they can qualify if they want to later.
In summary, Tucan looks like a pretty good development, backed by established and experienced management, a sound plan, realistic pricing, and a good location. As a matter of fact, I’m seriously considering plunking down myself for one of those terraced condos on that hill I like so much. I’ll let you know how that goes.
The rest of the material was provided to me by Dinesh for inclusion in this article. Enjoy.
“THE TUCAN COUNTRY CLUB & RESORT”
At the Panama Canal
GENERAL INFORMATION
The Tucan Country Club & Resort is a 180 acre private gated golf community with a wooded setting located a few minutes over the Bridge of the Americas from Panama City.
Persons wishing to purchase one of the 424 residences (consisting of Villa’s, Townhouses and Terrace Condo’s), must first make application for Membership to the Tucan Country Club, as Membership is mandatory and a pre-condition for purchase.
Purchase of a Terrace Condo includes lot and building. In the case of Villas, after lots selection, members must select a model, or can work with our architects to have one custom designed.
Terrace Condos and Model Villas are built and designed to the highest standards, and are delivered fully satisfaction guaranteed, and each member will be able to choose from a wide selection of interior finishes.
ECOLOGICAL CONSIDERATIONS:
The Developers are completing the required “Environmental Impact Study”, and the improvement and redesign of the 18-Hole Championship golf course to a par 72 PGA standard has been completed. The placement of the villas and terrace condominiums, also completed, has been integrated into the topography of the property.
PRE-SALE PERIOD:
The prices listed for the lots and houses are the “Pre-Sale” prices, and are thus discounted from the Base Prices by 20%.
The Pre-Sale Period officially commences October 1st, 2004. The Pre-Sale Period will be for four month’s or until the first 100 lots are sold, which ever comes first.
During the Pre-Sale period, the prices clients will be offered represent approximately a 20% discount on the price of the lot, house.
HOSPITALITY STRUCTURES IN THE PROJECT
1. Hotel
The Developers will build an initial 70 to 100-room hotel within the Club complex in the second year of development. Under the existing law in Panama, a hotel in this location with 50 rooms or more, would qualify for a casino license; no firm decision has been projected for this operation at the present time.
2. Club Membership:
Membership in the “Tucan Country Club & Resort” is limited to 600 Members, of which approximately 424 would be Residents of the Development (Membership is mandatory), at a cost of $10,000.00 and 176 non-residents. The cost for Non-Resident Membership will be $25,000.00 for Lifetime Membership.
All Memberships will be for the “lifetime” of the Member, and will automatically include his or her spouse and all children under 21 years of age.
3. Golf Clubhouse:
The Developers will construct a First Class Premier Clubhouse for Members and Guests, with full indoor and outdoor dining facilities, meeting rooms, activity rooms, Ball Room, Men’s Club, Woman’s Club, bars and social areas for events.
4. Shopping Center:
The Club Complex will include a Shopping arcade for the convenience of the Residents and guests, which will include services such as a Bank, laundry, pharmacy, beauty salon, Travel and Tourist Agency, Auto Rental, and gourmet Mini-Super, plus a “Mailboxes etc.,” type operation where residents can send and receive mail and packages.
5. Spa and Tennis Club:
The Club Complex will include a Spa with the most modern equipment, Steam and Sauna Rooms, Massage Rooms and Health Bar. A Tennis Club with indoor and outdoor clay courts will also be constructed.
6. Gymnasium:
A full service, State-of-the-art Gym will be on the premises located in the Spa Building, where Professional trainers will be on hand for safety and instruction.
MONTHLY FEES:
All Residents will pay a monthly Fee, depending on the size and location of their unit, which will include complete landscaping and Maintenance of the exterior of their Villa or Terrace Condo, cable and internet connection, Maintenance of the common areas, 24-hour security, fire and emergency connections, and full Resident Services for any and all administration of their unit, such as the payment of bills, telephone connections, etc.
All Members of the Country Club will pay monthly dues, separate and apart from any residential maintenance fees.
TAXES AND ADDITIONAL COSTS:
The Tucan Project is structured to qualify for no real estate or property tax to the buyer for twenty (20) years. Purchasers who apply for and qualify for “Pensionado” Status in the Republic of Panama will receive additional tax advantages.
All lots and residences are titled to an individual Panama Corporation, the shares of which are transferred to each owner upon completion of the purchase.
PURCHASING PROCEEDURES:
Clients wishing to purchase a residence at The Tucan Country Club & Resort must first qualify for Club Membership by completing a Membership Application and paying a $1000.00 Application Fee. If Membership is approved, this fee will be credited against the membership cost of $10,000.00 (if not approved for any reason, this fee is returned). Selection of residential unit location can be accomplished with the Membership Application for a 30 day reservation fee of an additional $1000.00.
Notice of Approval or Rejection of Membership will be provided in writing within 30 days to the Applicant. If approved, the applicant will then have 30 days to pay the balance ($9000.00) f the membership fee, as well as the required down payment on the residence selected.
Monthly Membership Fees will not commence until the Club is officially open, which is scheduled for January 2006. Monthly Resident Fees will not commence until the residential unit is complete.
++++++ 5 December 2004 - Recently a local online publication, The Panama News published this story about the Tucan Country Club & Resort. The story alleges financial ties and connections between the Tucan development and some characters who apparently (according to the Editor of the Panama News, Eric Jackson) have some colorful backgrounds.
I wrote an email to Dinesh about the story and allegations, and he sent me the following reply:
In a message dated 12/3/2004 8:56:21 PM GMT Standard Time, dpvaswani@hotmail.com writes:
Don,
As I mentioned to you on the phone, I did speak with Eric today to try to clear up some of these misconceptions he’s got. He asked me about this “infamous” person and I have informed him that this person has nothing to do with Tucan – he is not a shareholder, or director, or manager, or even janitor or anything else at Tucan.
So, who is Tucan?? Let me explain this all very clearly and in writing so that there is no further confusion:
Tucan Real Estate Holdings, Inc. is the Panama Corp that owns 100% of the Tucan Country Club & Resort. The Parent company of Tucan Real Estate Holdings is a Panama company called “Grupo V&V” which is the developer and constructor of Fort Espinar in Colon, as well as several other residential projects mostly in Colon – Residenciales San Judas, Residenciales Espinar, Altos de Espinar etc., They also have a major development here in Panama City called “Vista Real” a 4-tower Residential Apartment Complex over in Tumba Muerto. They are also the owners of the YMCA buildings in both Panama City and Colon.
Tucan is 100% financed by Grupo V&V, we have no outside shareholders, no outside investment, and we are not looking for any outside investors.
If anyone has questions as to who I am, well, as I mentioned to you Don, I am from New Jersey and have been living here in Panama for about 7 years. I am also the Executive Vice President and Director of Marketing for Tucan.
In regards to Move to Panama: As I mentioned to Eric, I have no formal arrangement with them. I am aware that they have information on their website about Tucan, and they have put this up WITH our permission, as our Sales Manager – Jorge (who you met) has made an arrangement to split his commissions with them if they send him referrals. Now, I have checked out the information that have posted and definitely it is very old information and no longer valid. I will get with them to update their information ASAP. However, I still don’t see where he got the link from Panama-guide to Move to Panama, or even Tucan’s website to Move to Panama – as we have no link with them.
Regarding the question of providing a corporation with the property, again this is an issue of old info mixing with new. Originally, we had planned to provide each property with a corporation already formed. The reasoning for this is simple – our main clientele are not locals or people who have been living in Panama for quite some time already and who know their way around. So we thought to do this just as an additional “value-added” service that we could provide.
However, in researching this with our attorneys (who are one of the oldest and most respected law firms in Panama – GALA), they have presented us with various different options – each with its own benefits and drawbacks, and so obviously each client would need to choose what option would suit him or her the best – be it a corporation, a trust, a foundation, or even individual title. So it just makes more sense to have each client do this on his or her own directly with the lawyers. Now, let me also add, Tucan clients are not required to work with our law firm, they are free to work with any lawyer or law firm they choose. Furthermore, if they do choose to work with our law firm, what they pay will be directly to the lawyers and Tucan does not get any “referral” or other fees from them – unlike with several other Panama developers.
The Isthmian: I have no idea why our add was removed from this site – possibly it’s because classified adds expire every 30 days and I suppose they will be removed if not renewed. However, if Okke did remove it, then I would also like to know why. In the meantime a new ad has been posted.
I hope this clears things up for you and for everyone else on this forum. If not, I am a very accessible person and can be reached anytime by phone or email so if anyone has any more questions or doubts, please feel free to contact me.
My Email: dpvaswani@tucancountryclubcom (mailto:dpvaswani@tucancountryclub.com) or dpvaswani@hotmail.com (mailto:dpvaswani@hotmail.com)
My Tel: +507-673-3466.
Regards,
Dinesh.
(7 December 2004 - Additional information provided in a response from Dinesh regarding the article that appeared in The Panama News)
In a message dated 12/7/2004 9:15:30 PM GMT Standard Time, dpvaswani@hotmail.com writes:
Don,
Re: Tucan…
I am attaching herewith a written statement of the facts with sincere hope that this will make clear once for all what is fact and what is fiction. I am copying Mr., Eric Jackson on this directly.
Best Regards,
Dinesh.
Dinesh P. Vaswani
Executive Vice President
Tucan Real Estate Holdings, Inc.
Tucan Country Club & Resort, Panama.
Calle Bruja, Cocoli,
Panama,
Rep. of Panama.
Tel: (Dir.) 507-673-3466
Off: 507-211-3472
Fax: 507-211-1308
E-Mail: dpvaswani@tucancountryclubcom
www.tucancountryclub.com
Tucan Real Estate Holdings, Inc.
Apdo. 242, Balboa Ancon, Panama, Rep. of Panama.
Tel: +507-211-3472 / Fax: +507-211-1308
December 07, 2004
To: Don Winner – Panama-Guide.com
Cc: Eric Jackson – The Panama News.com
From: Dinesh P. Vaswani
Executive Vice President – Tucan Real Estate Holdings, Inc.
In regards to the allegations recently made by Mr. Eric Jackson of The Panama News, I would like to further clarify the alleged involvement of one Mr. Gilbert Straub in the Tucan Country Club Project.
First of all, yes – I do personally know Gilbert Straub, and yes, I have had several discussions and meetings in the past with Mr. Straub regarding the sales and marketing for Tucan, however, no agreement was ever reached. But this was not the question asked to me by Mr. Jackson. He asked if Straub was a shareholder or partner in Tucan – which I replied that he is not. This is fact.
As for any “rumors” that Gilbert Straub is an investor, or has any other financial involvement in Tucan Real Estate Holdings, Inc., or in Tucan Country Club & Resort (TCCR), Inc. – either in front or behind the scenes is completely a distortion of the facts. I don’t know who Mr. Jackson’s sources are, but definitely they are misinformed.
As regards to the alleged history of Mr. Straub, this is all new to me. Whether it is true or false, I have no way of knowing. And besides, I was only about 7 months old at the time of the Watergate incident.
When asked about MovetoPanama.com, I clearly explained to Mr. Jackson that Tucan has no direct relationship with them, and I went on to further explain that I was aware they had information about Tucan on their website and this was a result of an understanding reached between our commission agent and the owners of MovetoPanama.com to split his commissions with them for sending him referrals, and frankly, I see no problem with this. However, when Mr. Jackson quoted some of the information available on MovetoPanama regarding Tucan, I realized the information was old and no longer valid which is why I had our commission agent contact them to update that information. Later I heard the allegations from members of PanamaForum that MovetoPanama engages in questionable business practices, and until this is further clarified, I have instructed our commission agent to request MovetoPanama to remove all information of Tucan from their website. Tucan has not and does not have any link to MovetoPanama from our website.
End of story!
Sincerely,
Dinesh.
SOURCE: Don Winner @ Panama-guide.com
If you’re considering renting or buying an apartment in Panama City, here’s a few things you should consider when making your decision.
In Panama City, location is everything. The first thing you should take the time to do is to learn the names of the different areas and neighborhoods of the city. Some areas are more expensive and favored over others, and usually for a reason. Most often it’s because they are closer to the city center or safer. Learn the differences between Paitilla, Marbella, El Carmen, El Cangrejo, Carrisquilla, San Francisco, etc.
Buy or Rent? If you’re just getting here and don’t know much about Panama, it’s always a good idea to rent first, for at least the first year you’re here. That will give you a little time to make sure you’re getting into a situation you’re comfortable with, and not spending a lot of money on something you’re hate later. So, rent first and buy later.
If you’ve already got some Panama time under your belt, then buying is always a better option than renting for obvious reasons. Right now there are new buildings going up like mushrooms, so it’s a buyers market with a lot of competition for not too many buyers. If you have some cash in hand then you are in an even stronger position and can negotiate a lower price.
Tax Incentives: There is a 20-year property tax exoneration on new properties being built, which means that if you buy into a new building you won’t have to pay property taxes for the first 20 years. Everyone knows this, and many people are now in the process of “jumping ship” from the apartment they bought ten or fifteen years ago, dumping them into the property market and buying up a new apartment in a brand new luxury condo building to remain tax-free. If you’re looking at an apartment in an older building, be sure to ask when it was built, and how much longer the apartment has before it will become tax liable. Ask your attorney to find out how much the taxes will be once you have to pay. Often, the taxes are not really that much per month (especially when compared to property taxes in the United States which often pay for the public school system) but it is an important consideration.
Monthly Maintenance (or Condo) fees: Every apartment in every building has to pay a monthly condo or maintenance fee. The building is managed by an administrator, and they building management is responsible for maintenance of the common areas, social areas, hallways, elevators, etc. Be aware that most often smaller buildings with fewer occupants have higher per capita maintenance fees. A friend of mine lives in a small building with only seven floors and two apartments per floor, for a total of fourteen apartments. The owners in that building (he rents) pay a whopping $200 per month in maintenance fees. When shopping for an apartment be sure to ask if there’s a formula that’s applied which charges maintenance fees based on the size of the apartment.
Many times there will be a monthly charge of like $0.80 cents per square meter of construction. So, a 100-meter apartment pays $80 per month, and the 250 meter penthouse pays $200 per month. Also, be sure to ask who manages the funds and the maintenance. Is there a condo association and do the owners of the property have control? Or, is it still a moneymaker for the builder? These are things you should know before buying in.
Noise: Panama City can be a fairly noisy place, with most of the noise coming from traffic and busses. I go with the “2 block rule.” That means, if you are at least two city blocks (as the bird flies) from a main street with bus traffic, you should be fine. I’ve been in apartments in the city that are right next to main streets like Calle 50 or Via Espana, and sometimes you literally have to yell at one another to be heard over the traffic noise.
Parking: How many parking spaces come with the apartment? Which ones are they (specifically)? Ask the owner or realtor to show them to you. Make sure they are clearly marked or painted as belonging to that apartment (“2A” or whatever.) The problem here is that often when someone moves out, the residents who still live there will make deals with the administration in the building and swap spots for a more favorable parking spot. Sometimes parking spots are hard to get into, require a smaller car or more maneuvering to be able to get in there, or what have you. The most common is one designated spot per apartment, sometimes two. The most expensive luxury buildings will have three or more. In some cases with new construction you can buy an additional parking spot (for a boat or whatever) before the building is actually constructed. And, if you’re buying in a new building, ask to take a look at the plans and make them tell you which parking spot is yours. Ask for the dimensions of the spots (how wide are they?) Are there any columns or other obstacles that will make it hard or impossible to park your Hummer?
Price Per Meter: One of the best ways to determine what kind of a deal you’re getting is to simply divide the selling price by the size of the apartment in meters. So, a 117 square meter apartment for $68,000 works out to $571 per meter. Obviously, you want to get the lowest price per meter you can find. Remember that all of the construction is just basic cement work, and if you can find an older, larger apartment for a really cheap price, you can spend a little to replace some tired flooring, redo the kitchens and bathrooms and paint, and for a small investment you’ve just “bumped” the real value of the place and made it much more pleasing and comfortable. And, the property taxes are based on the value, so if you pay a low price then the taxes will be lower as well. Get used to talking in “square meters” instead of “square feet.” Everything down here is in meters, and the sooner you make the mental adjustment the better off you’ll be. Figuring out the price per square meter is the best way to determine real overall value as a starting point. That will tell you how much you’re paying for the cement and construction.
Traffic Patterns: If you’re interested in a building, try leaving there at 7:45 AM and driving into the center of town. What’s the traffic like? Do you have a really popular intersection right in front of your building? Are there traffic lights or traffic cops to help things along? Or, is it almost impossible to get anywhere from there a certain times of the day. Also, try leaving from the center of the city and driving back to your apartment at 5:15 PM. Sometimes what can look like total traffic chaos actually flows pretty well. The only way to know for sure is to drive it.
Neighborhood Surprises: Look around for churches, clubs, businesses or whatever that might cause some inconveniences at certain times of the day, week, or year. There’s one popular church that I know of that causes local streets to become totally clogged and almost impassible every Sunday morning at 9:00 AM because so many people want to go to that service. Just be aware that there might be something in the area that can catch you off guard, so take a good look around.
Talk to the Guards, Maids, and Neighbors: The people who are most likely to tell you the truth about an area or an apartment are the people who work there and are not either an owner or real estate agent who is trying to make a sale. Come back to the property later, like in the early evening (after 6:00 PM but before the 8:00 PM shift change for the guards.) That way you’ll likely find the same guard on duty (who saw you come in with the real estate agent.) He will be more likely to give you straight answers about the building and area that its in. The same goes for the domestic help (maids) that are likely to be sitting out front gossiping at that hour. They can tell you if there are a lot of kids in the area, and what’s both good and bad about living in that particular building.
While this is not an all-inclusive list, hopefully it will serve as a starting point for things to consider. Please feel free to add comments or additions if I’ve left something out. Thanks.
SOURCE: Don Winner @ Panama-guide.com
The Green Park Apartments are currently under construction in Panma City. They caught my eye…
Unfortunately the website is in Spanish only. The builders are advertising hard in the local papers. It’s being sold as a completely private and closed residential complex with 24 hour security guards and controlled access. All cables are underground, there’s more than 5,000 square meters of green areas, parks, and sports facilities. Access roads are double wide with center islands and decorative lighting.
There are two buildings, #100 and #200. The buildings have power generators for the common areas (hallways and elevators) in case of power failure. There are two elevators per building, with a 1,000 square meter social area. The apartments are wired for Cable TV and Internet. All parking is covered, and there are parking spots for visitors.
The highest priced apartment described in the add was three bedrooms, two baths, 106 square meters from $389.00 per month (95% financed at 30 years, 2.5% interest.)
Note: These guys are not sponsoring Panama Guide. I just saw the add in the paper and though some of you might be interested.
The add was placed by Procasa and they can be contacted at 269-4577. The following was listed on their homepage for contact information: Tel: 507.269.4577, Fax: 507.223.2800, Emails: ventas@procasapanama.com, info@procasapanama.com
SOURCE: Don Winner @ Panama-guide.com
Last Friday night there was a construction accident at the construction site of the Brisas Del Carmen apartment project, one of the new apartment buildings that are being built in Panama City.
There are currently more than fifty different projects in various states and stages of completion. This one, called Brisas del Carmen in El Carmen, had a floor collapse (fail) during construction. Workers were pouring the cement for the 15th floor when the 14th floor broke and failed.
As you can see in the photo below, the construction crews support the new floor being poured on the floor below, and apparently they did not give the 14th floor enough time to set before subjecting it to the weight of the pour for the 15th floor. It simply failed under the weight.
The construction company spent the weekend trying to shore things up, but by Monday morning the word had gotten out and now they will have to tear things back down to find out what’s solid before they can continue with construction. Most importantly, safety officials are now on the site to make sure that no one gets hurt.
PELIGRO. EDIFICIO ESTUVO A PUNTO DE DESPLOMARSE.
Suspenden proyecto Brisas del Carmen
El proyecto está a cargo de la firma Pinzón Lozano & Asociados Arquitectos. Es un edificio de 15 pisos.
Unos 14 obreros casi pierden la vida. Los moradores que viven cerca del proyecto están atemorizados.
José González Pinilla jagonzalez@prensa.com
Los trabajos de construcción del edificio Brisas del Carmen, en el barrio El Carmen, fueron suspendidos ayer después que las losas del piso 14 y del 15 cedieran el pasado viernes.
José López, ingeniero encargado de la construcción, explicó que las infraestructuras no aguantaron el peso del concreto que habían vaciado. “La losa del piso 14 no soportó cuando la utilizamos para sostener el cajón armado que tiraría la losa del piso 15″, explicó.
López agregó que el sábado 12 decidieron suspender los trabajos por lo peligroso que representaba la losa quebrada.
Pero no fue hasta ayer que funcionarios de Ingeniería Municipal, el departamento de Seguridad Ocupacional del Ministerio de Trabajo y miembros del Sindicato de Trabajadores de la Construcción (SUNTRACS) hicieron un recorrido por el edificio para evaluar los daños, y ordenar a la empresa constructora, Pinzón Lozano & Asociados Arquitectos, detener por completo las labores.
El ingeniero López no pudo adelantar los detalles exactos de lo que pudo ser la causa principal que provocara que las losas cedieran.
“Se presume que pudo ser la pobre calidad del concreto, pero no podemos precisarlo por ahora”, agregó.
El director de Ingeniería Municipal, Jaime Salas, explicó que aún no pondrán las sanciones hasta que esté listo el informe que hace, desde ayer, el Centro Experimental de Ingeniería de la Universidad Tecnológica (CEI), para determinar las causas de las fallas.
Contiguo al edificio en construcción hay residencias que no superan los cincos pisos, lo que causó pánico a los moradores, explicó Salas.
En tanto, Juan Rocero, vocero del SUNTRACS, manifestó que en la construcción hay “mucha negligencia”, porque no cuenta con suficientes mallas de seguridad y las escaleras están desprotegidas.
Además, añadió, se puso en riesgo la vida de 14 obreros que trabajaban el día que ocurrió el hecho.
En tanto, López sostuvo que la empresa ha cumplido con todas las normas de seguridad que se exigen para realizar este tipo de proyectos.
El director de Ingeniería Municipal coincidió con el ingeniero. “El edificio mantiene toda su seguridad. Lo que vamos a inspeccionar ahora son las estructuras, para ver realmente cómo se han implementado las normas de construcción”, sostuvo el funcionario.
Last Friday night there was a construction accident at the construction site of the Brisas Del Carmen apartment project, one of the new apartment buildings that are being built in Panama City.
There are currently more than fifty different projects in various states and stages of completion. This one, called Brisas del Carmen in El Carmen, had a floor collapse (fail) during construction. Workers were pouring the cement for the 15th floor when the 14th floor broke and failed.
As you can see in the photo below, the construction crews support the new floor being poured on the floor below, and apparently they did not give the 14th floor enough time to set before subjecting it to the weight of the pour for the 15th floor. It simply failed under the weight.
The construction company spent the weekend trying to shore things up, but by Monday morning the word had gotten out and now they will have to tear things back down to find out what’s solid before they can continue with construction. Most importantly, safety officials are now on the site to make sure that no one gets hurt.
PELIGRO. EDIFICIO ESTUVO A PUNTO DE DESPLOMARSE.
Suspenden proyecto Brisas del Carmen
El proyecto está a cargo de la firma Pinzón Lozano & Asociados Arquitectos. Es un edificio de 15 pisos.
Unos 14 obreros casi pierden la vida. Los moradores que viven cerca del proyecto están atemorizados.
José González Pinilla jagonzalez@prensa.com
Los trabajos de construcción del edificio Brisas del Carmen, en el barrio El Carmen, fueron suspendidos ayer después que las losas del piso 14 y del 15 cedieran el pasado viernes.
José López, ingeniero encargado de la construcción, explicó que las infraestructuras no aguantaron el peso del concreto que habían vaciado. “La losa del piso 14 no soportó cuando la utilizamos para sostener el cajón armado que tiraría la losa del piso 15″, explicó.
López agregó que el sábado 12 decidieron suspender los trabajos por lo peligroso que representaba la losa quebrada.
Pero no fue hasta ayer que funcionarios de Ingeniería Municipal, el departamento de Seguridad Ocupacional del Ministerio de Trabajo y miembros del Sindicato de Trabajadores de la Construcción (SUNTRACS) hicieron un recorrido por el edificio para evaluar los daños, y ordenar a la empresa constructora, Pinzón Lozano & Asociados Arquitectos, detener por completo las labores.
El ingeniero López no pudo adelantar los detalles exactos de lo que pudo ser la causa principal que provocara que las losas cedieran.
“Se presume que pudo ser la pobre calidad del concreto, pero no podemos precisarlo por ahora”, agregó.
El director de Ingeniería Municipal, Jaime Salas, explicó que aún no pondrán las sanciones hasta que esté listo el informe que hace, desde ayer, el Centro Experimental de Ingeniería de la Universidad Tecnológica (CEI), para determinar las causas de las fallas.
Contiguo al edificio en construcción hay residencias que no superan los cincos pisos, lo que causó pánico a los moradores, explicó Salas.
En tanto, Juan Rocero, vocero del SUNTRACS, manifestó que en la construcción hay “mucha negligencia”, porque no cuenta con suficientes mallas de seguridad y las escaleras están desprotegidas.
Además, añadió, se puso en riesgo la vida de 14 obreros que trabajaban el día que ocurrió el hecho.
En tanto, López sostuvo que la empresa ha cumplido con todas las normas de seguridad que se exigen para realizar este tipo de proyectos.
El director de Ingeniería Municipal coincidió con el ingeniero. “El edificio mantiene toda su seguridad. Lo que vamos a inspeccionar ahora son las estructuras, para ver realmente cómo se han implementado las normas de construcción”, sostuvo el funcionario.
SOURCE: Don Winner @ Panama-guide.com
Your tax dollars at work — Here’s a fact sheet about buying land in Panama. Be aware that the Panamanian government is currently looking into all the ROP purchases in Bocas del Toro, to make sure they were all legal. I’ll go back and find the articles about that, but for now here’s the factsheet.
Please see below, on this very same topic, from U.S. Embassy, Panama.
CONS
UNITED STATES EMBASSY PANAMA
CONSULAR SECTION
CONSULAR INFORMATION SHEETS
E-Mail: Panama-ACS@state.gov
PURCHASING PROPERTY IN PANAMA: TITLED LAND, RIGHTS OF POSSESSION AND COMMODITY SPECULATIONS
INTRODUCTION AND SUMMARY. The following is general information on purchasing real estate in Panama. It is not to be construed as legal advice. The different categories of land make it imperative to engage professionals for more detailed information. Real estate laws on the mainland can be quite different than those on islands, coastal areas, and areas near national borders.
Generally, there are two very different ways to buy real estate: 1) the purchase of titled property, and 2) the purchase of rights of possession (derecho posesorio). Titled land, and the process of buying this, is similar in concept to that in the U.S., and land and deeds are duly recorded with the Public Registry (Registro Público). “Rights of possession” is an entirely different process, a kind of squatter’s or concession rights. For rights of possession on the mainland, it might be possible to convert this later to a titled property; on islands and coastal and border areas, it is much more difficult if not impossible. Many areas in and around Bocas del Toro, including beachfront and island properties, are government property, and cannot be owned, although there are very limited and complicated exceptions. One should not buy “non-adjudicable” lands (áreas inadjudicables) unless the purchase is from the Government of Panama. Ultimately, there is only one way to acquire property in Panama to the fullest extent of the law: titled land. Rights of possession is not titled land.
TITLED PROPERTIES: Panama has a reliable Public Registry system, and this office maintains a record of all titled properties throughout most of Panama. Information regarding titled properties is readily available through the Public Registry, and is a fairly routine process to undertake through due diligence on a lot or property (finca). Your attorney can issue you in writing an abstract title of the land, along with any and all liens, mortgages, covenants, encumbrances, maps, verification of tax payments and utility bills, special characteristics, ownership history, fence lines, encroachments, shared driveways, and registered surface area, and can verify that the person who is selling the property is the actual owner.
RIGHTS OF POSSESSION: Not all properties in Panama are of private domain and thus are not subject to Public Registry registration. Such properties are public property, and can rarely be owned or titled outright. In such cases, it might be possible to obtain “rights of possession,” a kind of squatter’s or concession rights, as an alternative to title, permitting one to acquire a right to possess based on the occupation and use of a certain area of land over time. (Think of trying to “buy” parts or all of the Grand Canyon, New York’s Central Park, or the Washington Mall. You obviously cannot. However, a U.S. rancher can buy grazing rights in a U.S. national park, a company can buy limited use of national lands for mining or drilling, and a company can gain a concession to build a restaurant within a national park. But none will ever hold title.) Much of the property in and around Bocas del Toro, beachfront properties, islands, and areas in rural, agricultural and special tourism zones, are government-owned. In some cases, titles are held by families from many generations back and obtaining rights of possession might be possible, but the buyer would still have to pay for the land when and if, he or she obtained the title. This is a risky method of acquiring real estate.
It is important that all properties undergo a title search before purchasing. There are potential conflicts in owning rights of possession. Properties can be subject to third-party and and/or conflicting claims of ownership, and the vagaries of Panamanian law and local politics. It might be possible that the original owner return to claim it, or the government could exercise its right to re-occupy it without compensation or warning. For titled property, no one can do this without following a condemnation process similar to that in the U.S., with the owner compensated for land and improvements. Rights of possession are handled and recorded by the Ministry of Agriculture’s Agrarian Reform Office, not the Public Registry.
Although Panama law allows nationals and foreigners to purchase titled property in many parts of Panama, it is important to note that Article 121 of the Panamanian tax code states that foreigners and Panama corporations with foreign ownership cannot purchase property located less than ten kilometers from borders, or on most islands. Although some have contested the constitutionality of this law, until this situation is resolved, buying such property remains a risk to foreign investors. Exercise caution of “Panamanian corporations” that appear to grant entitlement to such lands.
Another important difference between titled property and rights of possession is that the latter cannot be mortgaged. This makes sense: if you do not actually own the land (hold title), you cannot mortgage it. The buyer should ensure that the activity contemplated is allowed, that the construction is acceptable to the government, and that the award be extensive for a period of time suitable to the purchaser. The length of the transaction process for the possession rights transfer varies and can take months, depending on many factors, such as the date of recognition of these rights and the granting entity’s inspection, etc. Many land developers in these areas have already procured the rights of possession documents and transfer the ownership of them by means of the sale of a Panamanian corporation and its assets. Aside from the problems with this (stated above), be aware that corporations might have other businesses besides that related to the property, and there is no official registry of this.
LANDS IN NON-ADJUDICABLE AREAS (áreas inadjudicables or áreas insulares). These are lands that the government has set aside and are NOT subject to title or rights of possession.
CONTRACTS IN ENGLISH HOLD NO LEGAL WEIGHT IN PANAMA. All juridical processes in Panama are conducted in Spanish. For any real estate transaction in Panama, a contract written solely in English carries no legal weight, and is generally not recognized. All contracts for property must be in Spanish on a formal public deed, and signed before a public notary, in order to be legally enforceable and to be filed at the Public Registry.
GET PROFESSIONAL HELP. Buying real estate in a foreign country should not be guesswork. As when purchasing real estate in the U.S., common sense should be the guiding factor. Again, engaging a reputable attorney and licensed real estate broker is recommended. Even some Panama City-based real estate lawyers might not be fully familiar with such intricacies as land law in certain areas, e.g., Bocas del Toro.
Panama’s Bar Association and Supreme Court advise that the Supreme Court issues a “Certificate of Good Standing” to lawyers. The Court receives complaints about lawyers and decides whether to sanction them. This certification may be requested via fax or mail from the Panamanian Supreme Court from: Lic. Carlos Cuestas, Secretario General de la Corte Suprema de Justicia Organo Judicial, Calle Culebra, Edificio 236 and 237, Ancon, Panama, Republic of Panama. Tel: (507) 262-8358, Fax: (507) 262-2505. Note that such a certification is still no guarantee.
The Embassy also maintains a list of lawyers; write us at panama-acs@state.gov for the list. The Embassy assumes no responsibility for the professional ability or integrity of the persons or firms whose names appear on this list. They are, however, selected with care.
REAL ESTATE TRANSACTIONS IN PANAMA are usually done in two steps. The Promise to Purchase Agreement is a preliminary contract between the buyer and seller, and gives the buyer time to work out financing and due diligence before committing to buy. It also can be used to get the seller to meet certain commitments and conditions before the sale occurs, and list “contingencies” under which the buyer can be released from obligation to buy if questions are not resolved, or if hidden defects are later found. Only when the buyer is completely satisfied should the sale close. If the buyer is satisfied, a Purchase and Sale Agreement (or Contract) is made in the form of a public deed and registered at the Public Registry of Panama, at which time the buyer becomes the owner.
The safest way to pay is by an irrevocable letter of payment issued by a bank, contingent on receiving from the seller proper title to the property. The bank holding the funds issues the irrevocable letter of payment to the seller and pays it as soon as it is presented with the registered public deed transferring title to the buyer. The buyer often opens a bank account (or gets a mortgage) and then formally requests that the bank issue this letter, which is considered to be an appropriate form of payment. If the buyer does not obtain a mortgage, he pays the bank for this service.
Real estate agents normally get paid only when the sale closes. Contracts signed are legally binding documents, and you should ensure that you have read and understood them completely before signing. While a good real estate agent can help you through the steps of buying, he cannot provide you with legal advice; an attorney does that. Escrow and title insurance are not generally used or needed in Panama, as such functions are performed by the bank and Public Registry, as described.
COMMODITY SPECULATIONS: Commodity investments and speculations, such as for noni and teak require extreme caution. For these crops, proper growing climates and soil conditions are very specific. Teak is not native to Panama. Projections and assumptions about noni and teak involve highly uncertain factors such as availability, price, vagaries of season, changes in government, crop yields and quality. There are no guarantees.
SOURCE: Don Winner @ Panama-guide.com
