Panama Pacifico Project
In 2008 the Panama Pacifico Project was just starting. The goal was to build an industrial and residential area in 410 acres of land where its proximity to Panama City, Panama, and unique tax incentives would attract many investors and people looking to call Panama home. A couple of years later and more than 300 businesses from diverse industries have established themselves there, giving jobs to more than seven thousand people.
The Panama Pacifico Area is one of the most important projects in Panama, which includes the development of an international business center, being the home to large multinational companies, being a premiere gated residence for its inhabitants, and serving as a home for the industry in general. The main objective of the Panama Pacifico is to attract foreign investments and create jobs in Panama all while being a safe, secure, and prestige residential area.
Panama Pacifico is strategically located at the southern entrance of the Panama Canal at the former Howard Air Base. This Special Economic Area is located in the heart of the world trade with direct access to the Pan-American Highway, connecting Panama with Central and North America, next to the port of Balboa in the Pacific Ocean, and only fifteen minutes from the center of Panama City.
The in-development master plan is designed to last 40 years starting in 2007 and both the Clinton Climate Initiative and the United Nations Organization for Industrial Development have given high praise to the establishment it for its logistical standpoint and gorgeous architectural designs.
Today, Panama Pacifico is made up of 400,000 square meters of logistics infrastructure built where companies such as 3M, FedEx, Dell, Caterpillar, Avon, Cemex, Lacoste, and Pepsico operate. 1,200 residential units have also been delivered, ranging from 64 square meters to more than 280. They are divided into six different real estate projects and although most already have residents, many are still available for rent, sale and pre-sale projects.
The way to purchase property in Panama Pacifico is ideal and unique, allowing buyers to have certain flexibilities. There are two very interesting elements in Panama Pacifico, one of them is that you have the possibility of buying stock immediately, and if the buyer does not possess the money in cash he can pay for the apartment in comfortable installments, without decapitalizing.
The Future of Panama Pacifico
In the future, the Panama Pacifico project will continue to keep growing. Three roads and mobility megaprojects will pass very close to it and will influence it immensely. This represents an opportunity for those who want to establish their home or their business as all these renovations that are currently being built will bring great traffic to the area.
Developing business infrastructure together with housing and services allows not only to promote the valuation of land and projects but to eliminate the chaos in real estate development, as it happens today in many cities in Latin America and offers opportunities to increase productivity for businesses.
The construction and overall design of Panama Pacifico marks a milestone for urban developments around the world and, until now, proves that it is possible to put aside the chaos that construction and housing developments prevail in many of the big cities. Panama Pacifico’s design has been praised by many renowned architectural groups and institutions for its ambition and overall layout.
The LED 3855 building of Panama Pacifico, designed by Laura Ríos, won the Magno Prize in the commercial category 3B in the Best Architecture Works Competition (MOA) by the Architects Association.
Likewise, the architect George Moreno obtained 3 awards in the categories Urban Scale 10, Institutional 5D and Single Family Residence 1D by the residential complex “Nativa” located in the Special Economic Area. This residential area obtained the recognition for its conception as residences, as a single-family home and for its Clubhouse.
This balance between high industry and quaint residential lifestyle is unique to the field of architecture. Besides promoting an important technological, logistic and innovative development, the Panama Pacifico is shaping the spirit of the actors that make up this community, a project that is designed with an avant-garde vision unique not only to Latin America but to the whole world.
If you’re interested in moving your business to Panama, we can assist you with a Panama corporation and international tax structure.
You’ll also find that a Panama Foundation is one of the most efficient asset protection structures around. It has a long history in Panama and is used by all high net worth locals, a major selling point for new residents. To compare a Panama Foundation with an offshore trust, see: Offshore Trust or Panama Foundation?
And Panama has one of the lowest cost residency programs out there. Simply invest $20,000 into one of the country’s green initiatives, and you get residency. Hold that for 5 years, and you can apply for citizenship. For more on this, see Best Panama Residency by Investment Program.
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