Have you noticed the street that your investment property is being built on at the Punta Pacifica shoreline in Panama City? It’s a dead end street lined on both sides with huge multi-story residential properties…most of them under construction now. Tremendous investments in Panama City’s Pacific Oceanfront real estate are represented on that street. They look good.
Please put on your virtual reality helmet and take a look at the future of that little street…in oh, let’s say – five years. In that moment of vision into the future: it is a two lane blacktop road, lined with lots of very valuable automobiles all sitting in rows, one going each direction with their motors running, unable to move more than about five inches at a time, as all the elegantly dressed people in the back seats seethe. Did you happen to think about ease of access to your multi million dollar property, when you noted that street being represented as a dead end on the initial site plans? Or did you just think it looked good?
Hmm…what else was excluded from your overview? Did your considerations include utility set up for your investors? How about deals to keep the investor residents from standing in lines at the immigration office for a couple of hours a month to keep their visa viable? Do you plan to make introductions to Panamanian bankers, who aren’t willing to talk with just anyone; or reliable attorneys to help them to get settled in Panama legally, tax accountants that know how to answer their foreign resident questions? Is your plan good or does it just look good?
What about the Panamanian workers who will be building your Flying Sail, Mr. Trump? Will you be acting in agreement with current Latin American policy in which there would be no humane response to a worker falling to his death, off a building in progress? Under the current national agreements, your builder and developer team would owe his family nothing. Last year 27 construction workers died on the job…and their families lost not just the breadwinner of the family…they lost almost everything.
One who is only concerned about looking good would say…not my problem. Someone who’s interested in being good, will consider the issue from all sides and work on creating as an alternative, a workable compromise between the workers and the building management team; that treats them fairly, compensates them fairly, and insures them enough to support their family for at least a year…in the event of their death or severe injury. (By the statutes of your homeland, these are very conservative considerations.)
And that concept would give the workers the option of an employer not associated with hostile unions. Yeah, a lot of the innocent workers have been sucked into trade unions, but what they want is security for their families…can you and your building team, offer them that? Let’s talk about compromise being a good thing.
Here’s the challenge, Mr. Trump. Are you in the game to look good…or to be good?
Are you aware of what’s truly happening in the city that’s located about 9 degrees north of the equator and 80 degrees west of the prime meridian? The remarkable city where you’re building a theoretically profitable ‘Flying Sail’ on the edge of the Pacific Ocean? Are you willing to take on the responsibility that’s needed to make your project in Panama a true success…even if it’s not in your projections?
In considering your profit projections planned for the 2.6 million square feet being built at the edge of Panama Bay; is it relevant for you to think about the quality of life – of your investors? Not the profiteers, the people who actually want to live and/or work in your flying sail. Do you have some limited real responsibility for the human quality of life outside of the building you’re creating, as well as inside it? How about the quality of life of the people who are building your $260 million condo-hotel and mixed-use development building?
Let’s talk …about the comparisons between looking good and being good…
Bristol Hotel
Area Bancaria, Bella Vista
Located at the heart of the city, the Bristol Hotel is posh, five-star hotel that provides close access to the city’s business and entertainment districts. Fortunately, the food in the Bristol Hotel’s restaurant, the Barandas’ is usually excellent, because you’ll have to ‘dress’ to eat here. The restaurant’s focus is so elite, guests who are wearing shorts may not eat in their dining room, not even for lunch in this theoretically tropical destination.
Do ask when you make your meal reservations, to be sure they are NOT having an event in their meeting rooms; since there’s no acoustical separation between the restaurant and the Grand Colonial meeting room…with its capacity for entertaining 300 people. From personal experience, eating in the restaurant during an event is auditory torture, no matter how good the meal.
Business travelers can access the hotel’s 24-hour business center or avail themselves of spacious meeting rooms. Surprisingly the hotel even supplies personalized introductory cards for clients with their name and their hotel room’s direct phone number. All rooms come equipped with basic amenities including: high speed internet access for wired and wireless computers, fax, voice mail, cable TV, CD and DVD players.
The Bristol Hotel staff surprises many of their guests with their exceptional efforts to provide excellent services, therefore, it is considered one of Panama City’s finest hotels, even though it offers only 56 rooms at an average of $290 per night. The other section of the building is called Bristol Residences and is available for longer term luxury rentals.
On the shores of the Pacific Ocean; Panama City is bright, cosmopolitan, and fast moving. Distinctive casinos, bars and restaurants, great shopping, are in beautiful and historical Casco Viejo, the 17th century historical area in mid-renovation; or Panama Viejo, the 16th century Panamanian ruins, the Panama Canal, and the subtropical forest in a metropolitan park all add to the combination that make Panama City exceptional in Central America.
So what kind of lodging do you want in Panama City…? Do you prefer luxury lodging options with 600 thread count sheets and mimosa’s for breakfast? Or do you want median cost dwellings? Even economy travel digs in Panama are available with good food and good folks? They are all accessible! This site will group many of the Panama City lodging alternatives by cost and amenities.
Well you could rent a fully furnished $12 million dollar castle on Contadora Island or stay in spartan lodgings at a Hostel. What would you enjoy the most? Let’s look at the stars of the hospitality industry in Panama City. Until next time…
Altos del Maria heralds itself as “the perfect place to live surrounded by nature”. It is hidden in an unspoiled mountain setting, along a 14km paved road off the Pan American highway. Set in the Chame district, this mountain community is within easy driving distance of the Pacific coast beaches and amenities, and just 65 miles from Panama City. This is ideal for those seeking a home in the mountains, a holiday retreat or a permanent retirement home whilst staying within reach of city life.
Prices in real estate across Panama are steadily rising, particularly in well-known beauty spots such as Boquete, but Altos del Maria is still surprisingly affordable. The Sales Center, with its English and Spanish speaking staff, is very helpful for those interested in building their own home. There are still lots available in many beautiful locations around the development. If however, you wish to dispense with the waiting and hassle of self-build, there are also some resale properties available.
There are prices to suit all pockets, from a fully furnished home with 2 bedrooms, on a gently sloping lot, for just $140,000. At the other end of the scale is a newly completed luxury 3-bedroom home with studio for $500,000.
Most unusually, there is a 4000 sq ft. American-style home offering 3 bedrooms plus a bonus room for just $295,000 with some of the best views anywhere. The catch? This home is still only a shell, and estimated costs to complete would be a further $65,000. For the property developer, or those wanting their own choice of finish, this offers a great opportunity to build a dream home at a very affordable price.
Hotel Contadora is the largest of the inns on the island with 354 rooms, perched on the seashore near the airport end of the island. The property offers: two outdoor pools; three tennis courts; and a casino, in addition to beach activities. But I encourage you to consider other lodging on Isla Contadora, as this property is remodeled and upgraded.
There are a number of tough reviews on the hotel from previous guests. Some compliment the spacious accommodations. Other guests aren’t so complimentary; “We were directed to a building that was like a SLUM, and that is being kind. Air-conditioning was not working. Bathroom was dirty, and had no hot water. Sliding glass doors did not have locks and were kept closed by wooden sticks. Linens were ancient, with only two small, grungy bath towels.” Most of those things are maintenance issues, but it doesn’t sound like my idea of paradise holiday lodging. Is it yours?
One reviewer noted: “Service is very poor, rooms and facilities are in bad condition, the food sucks and no one warned us the water wasn’t safe for us-so we got ill from it, AND the hotel charged in advance for the whole trip.”
It appears the members of the management company have taken the messages from their guests to heart, and the buildings, restaurant, pool and grounds are getting an urgent update. This resort has great potential with right management, better upkeep and TLC. With the “New Contadora” flag on their new (Spanish only) website: http://www.hotelcontadora.com – maybe…it’s happening now.
Panama City has many apartments available for sale or to rent. As with any city, there are good areas to live in, and some less desirable neighborhoods to avoid. The most popular areas for Downtown residences include Punta Paitilla, Bella Vista, Obarrio, El Cangrejo and Marbella. If you are new to Panama City, it is always a good idea to rent first to try out the neighborhood before you buy.
As with many cities across the USA, there has been a great building frenzy in recent years, and this makes the skyline of Panama very distinctive, especially along the coastline bordering the City and Corridor Sur. From most apartments the views of the ocean and surrounding mountains are very beautiful. However, as new high-rise buildings continue to appear, the view may suddenly become rather more restricted in this no-zoning environment.
Most apartment buildings offer 24-hour security, parking and elevators. There may also be a swimming pool, social areas and exercise facilities. Many of these amenities will be included in the rent, along with water, trash removal and basic cable TV, but do check your lease agreement first. If you are on a low floor, then barred windows are essential for security.
Rental/lease agreements are an official government document. Regardless of the term, they are cancelable with 30 days written notice, an important fact to know if you are not satisfied with the home. A security deposit of one month’s rent is usually required and is deposited with a copy of the signed agreement with the Housing Ministry (MIVI). It will be returned once the tenant has satisfactorily vacated the property.
Vista Mar by its very name conjures up images of white Mediterranean-style homes tumbling down the hillside to a perfect blue sea. It epitomes the coastal town resorts of mainland Spain, but this Vista Mar is in Panama. Conveniently close to Panama City (56 miles away), Vista Mar is proving very popular with ex-Pats and local Panamanian holiday homeowners alike. Nearby Coronado offers a Bank, large El Rey supermarket, pharmacy, ferreteria (a what??) and a good choice of restaurants.
This real estate complex of condos and homes is situated on 700 acres of oceanfront resort. It is centered on the Vista Mar Golf and Country Club designed by world-renowned golf course architect, J. Michael Poellot. There is also a driving range, Vista Mar Golf School and Pro Shop and the surprisingly excellent “Terrazas del Mar” Restaurant, owned by resident expert of cuisine, Chef Pascal Finet.
The home sites are cleverly arranged up the hillside on terraces, giving each lot an ocean view. This simple but obvious concept maximizes the beautiful ocean views and sea breezes.
So if you are looking for a lovely community in which to retire, or just take life easy along the Pacific coast, take time to view this Panamanian real estate treasure.
One of the most beautiful parts of Panama is Bocas del Toro, which is situated on the Atlantic coast of Panama, close to the border with Costa Rica. This peaceful island community still has unspoiled beaches, crystal clear waters, palm trees and fruit trees in abundance. The islands are easily reached by several airlines into the International airport, or by road from David and then by ferry to Bocas Town on the Island of Colon. Bocas Town offers all the amenities and shops needed for a modern-day Robinson Crusoe, if that is your dream.
Travel between the island communities requires a private boat or water taxi. Several companies provide regular deliveries from Panama City to Bocas of foodstuffs, building supplies, books, furniture etc. Due to its large ex-pat population, English is widely spoken here.
Amazingly, lots are still available with water views for less than $100,000. If you prefer a turnkey property, there are many wooden chalet-style homes available for under $200,000, and in some cases that includes furniture. Generally these homes have 2 or more bedrooms, a living room, a modern fitted kitchen with appliances, and a terrace for outdoor living. Electricity and the Internet is generally available, however the water here is generally considered unsafe to drink.
Whether you are looking for a get-away vacation, or a long-term property investment, Bocas is a must-see. And think what a great address it would be, if you lived on “Red Frog Beach”!
