La Playa Panama - Volume 12, January 2014 | Page 2

P. 2 - LA PLAYA

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JANUARY / ENERO 2014

Important Events of 2013 That Will Shape the New Year in Panama
By Liz Laroquette

A

s a consultant for real estate
investment, it’s imperative I
keep my thumb held tightly
upon the pulse of Panama. After all,
what happens here on a national
level has everything to do with the
movement of the real estate
market, including both my investments and my clients’.
This has been an exciting year for
Panama, the events of which are
setting the stage for an even
greater 2014. I look forward to
watching the New Year kick off with
an advantageous platform on which
Panama will continue to grow.
Panama Canal Expansion Nears
Completion
Panama’s revered Canal is
celebrating its 100th birthday in
2014- and the ongoing $5.25 billion
dollar expansion may as well be
considered its present. The expansion, which made epic strides in
2013, is considered one of the
greatest feats of engineering taking
place in the world today. Although
scheduled for completion in early
2015, anticipation for the consequential real estate boom will have
a significant impact on Panama’s
economy in 2014.
New International Airport for the
Gold Coast
The Rio Hato International Airport
was inaugurated this year, and us
here at the beach are already on
cloud nine. Located near the heart
of Pacific-based resorts and
residential
developments,
the
airport equals conveniences for
anyone visiting, living, or investing
in the beach. The newfound ability
to avoid the hodgepodge of
Panama City means Pacific-based
tourism and investment are sure to
grow in 2014.
Renovated Airports and New
International Flights

With over $200 million dollars
invested in the country’s airport
sector in 2013, connectivity in
Panama has never looked brighter.
Besides
thoroughly
modern
makeovers for Tocumen International and an airport near Pedasi,
travelers are now able to take direct
flights to Panama from more places
than ever before- including several
European countries and more U.S
airports. 2014 will be a good year
for tourism indeed.
Subway System in Panama City
Panama’s subway system has
made gigantic strides in 2013, with
several successful test runs and a
construction completion rate of
over 90%. Scheduled to open in
early 2014, the subway will serve to
alleviate much of the traffic congestion in Panama City. It will be
Central America’s first subway
system, placing Panama once
again ahead of the regional curve.
Royal Palm Beachfront Development Pre-Sale Commences
Royal Palm is the newest addition
to Empresas Bern’s iconic family of
luxury condominiums. Occupying
an absolute beachfront position in
Playa Gorgona, the double-tiered
development is the first of its kind in
Panama. With uniquely designed
floorplans and a vast array of
resort-style amenities and services,
Royal Palm is designed with the
investor and vacation homeowner
in mind. Pre-sale prices on units
are available for a limited time- visit
www.LizLarroquette.com/royalpalm for more information.
World Economic Forum Crowns
Panama
The 2012-2013 Competitiveness
Report defines Panama as having
the most competitive economy in
Central America, and the second
most competitive in Latin America
(after Chile.) Panama also received
some Spanish. Free copies are
distributed to restaurants, hotels and
popular locations across the beaches
from Punta Chame to Rio Hato and El
Valle.

ABOUT US
La Playa Community News is
published monthly in English with

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edition of www.playacommunity.com,
a community news, events and useful
information portal that receives
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prominent world rankings in
categories such as Strong Financial Markets, Soundness of Banks,
Port Infrastructure and Air Transport Facilities. Such high rankings
for Panama are sure to capture
further attention on the international
market.
More Added to Friendly Nations
Visa
This year, more countries were
added to Panama’s famous
Friendly Nations Visa, bringing the
total amount to 48. The visa allows
fast-track residency processes to
those hailing from places deemed
“friendly” to Panama. It has been a
monumental success, encouraging
many foreigners to relocate to
and/or invest in Panama- the
number of which is expected to
continue growing in 2014.
More Beach Security for the Gold
Coast
With Pacific-based tourism and
property investment expected to
really take off in 2014, the government has implemented heightened
security measures on the beach.
The most notable measures have
been taken in Coronado and
Gorgona, where police stations
have increased training, personnel,
police presence, and resources.
The security measures aim to bring
peace of mind to those looking to
live, visit, or invest in the beach.
New Schools in Panama
Four new institutions have opened
in Panama in 2013, namely the
Panama
Pacifico
Academy,
Boquete International School, The
Boston School, and the King’s
College British School of Panama.
These are in additio