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Panama's Construction Boom Continues- Construction and real estate update March 2014

Luxor Tower Panama

By in Blog with 4 Comments

Luxor Tower in Panama’s El Cangrejo neighborhood will be completed right around September 2011.  As a company, we have been watching this project with anticipation as it is Pacific Hills Developer’s first project in the El Cangrejo neighborhood.

A bit of background about the developer:  Pacific Hills is a Panamanian development group that’s been building in Panama since the mid 1980’s.  I’ve been inside six  of their nine projects and have been very impressed with the consistency of their workmanship and quality of materials. Vivendi is their most recent completed project (2010) and we’ve found both resale values and rental rates have stayed very high, even amidst the pricing correction here in Panama.

In short:  Pacific Hills knows their market and they build to that market.

Luxor Tower is sure to be a class act in a classy neighborhood, El Cangrejo.  If you are someone that likes to stay in shape, I can tell you first hand that Luxor will have one of the best lap pools in town.  I’ve stood in the concrete shell of the pool and it is definitely longer than 30m but not quite a full Olympic distance pool.  The gym space is spacious, and Power Club Gym is just a short walk down the hill.  They will have the requisite poolside bar area, saunas, and other amenities that are common in apartment buildings here.  And of course, the double height lobby which is sure to impress!

Luxor Tower features a handful of floor plans, including 1, 2 and 3 bedroom options ranging from just under $200,000 all the way up to a penthouse priced in at $650,000.  In short, something for everyone.

If you are a buyer that believes in the mantra of location, location, location, then you wont be disappointed with Luxor (see neighborhood link above).  If you are someone looking for curb appeal and high rental income, Luxor will be a solid option considering El Cangrejo is one of Panama’s most desired expat neighborhoods and the quality of construction and amenity list is very marketable.  And if you’re looking for a modern, comfortable, and more than anything affordable place to call home, Luxor’s your best bet for new construction in El Cangrejo.

To see what’s available for sale, follow the link below:

Luxor Tower Panama for sale

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+

4 Comments

  1. Luis Martínez says:

    Hola, estoy interesado en un apartamento de 229m2 o más. Agradecería me envíen información.

  2. ross montgomery says:

    This looks good, I may be able to look at when I come to Panama May 4-5….thanks–ross

    • Alain M. says:

      I doubt. Traffic at this corner is always congested. This buildig will have more than 300 cars. Just imagine how you will get out. Next to this project there is another one that make this place even worse.

      • Kent Davis says:

        Hello Alain, thanks for sharing your comments. I agree with you, traffic in this area is quite congested but the good news is that the structure they are building next to Luxor Tower 3 is going to be one of Panama’s first urban parking lots! The parking structure will connect Calle Alberto Navarro (where Bella Giana and Tosca de Duran are) to the street parallel in front of Machu Pichu.

        I’ve always thought that traffic would be much smoother if the municipalities started enforcing street side parking restrictions and it looks like this may be the first step.

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