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A Second Private Island in the Bay of Panama

A Second Private Island in the Bay of Panama?

By in Blog with 0 Comments

Residents of Punta Pacifica and Paitilla have been curiously watching construction progress on the first of two private islands located just off the coast of downtown Panama City, Panama.

Last week, Dutch firm Royal Boskalis Westminster moved equipment in place to begin construction of the second artificial island in the project.

Pre-sales of Island 1 were brisk, and most of the lots for sale were purchased by friends and family of the developer and resold at a handsome profit to end users who plan on building private homes on the 25 acre waterfront gated community.

To date, most of the construction on the first island has been a handful of mutli-family low rise condo developments, the first of which is due for completion and delivery in the next few months.

The second island, which will measure 20 acres, is going to be connected to Island 1 and will feature a marina (between the two).

This project is ambitious to say the least but they pulled off construction of the first island, so who’s to say they can’t do it again on the second!

Panama Equity is currently working with the developers on presales of the lots on the second island and we also have a few resale opportunities in both the condos for sale on the island as well as one home site.

About The Author

Kent Davis, founder and Managing Director at Panama Equity real estate, has been widely quoted in publications such as Wall Street Journal, Time Magazine, The Miami Herald and the Financial Times for his unabashed views on the Panama real estate market. Panama Equity is regarded as one of the most active real estate agencies in Panama and Kent’s articles, reports, and market research projects have been syndicated by press agencies including Bloomberg and the Associated Press.   Connect with the Author via: Email | LinkedIn | Facebook | Google+

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