New Parking for Panama City
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The Mayor of Panama this month gave the green light to start construction on three separate underground parking facilities which will provide 1,100 new parking spaces throughout the city.
The first phase is responsible for building 362 parking spaces in the Parque Porras followed by 449 in the Francisco Arias Paredes park located between Cuba and Peru Avenue. The development is a public/private venture and includes private investment of $ 14 million.
Meanwhile, Plaza Parking SA, at a cost of $ 7 million, will be building an additional 300 parking spaces in the Harry Strunz park, across the street from the Global Bank building.
Works are set to begin in February, although plans for the underground parking at Parque Urraca and in El Cangrejo are still on hold for the time being. The cost of parking, when completed, will be between three and four cents per minute.
Kent Davis, founder of Panama Equity Real Estate, is a leading expert in Panama’s competitive real estate market. Originally from Honolulu, Hawaii, he holds a Marketing Information Systems degree from James Madison University. After a successful corporate career managing multimillion-dollar inventories at Hajoca Corporation, Kent pursued his dream of living abroad, moving to Panama in 2007.
Driven by an entrepreneurial spirit, he established Panama Equity to connect buyers, sellers, and investors with Panama’s top properties. Known for his transparency, expertise, and market insights, Kent has helped hundreds navigate Panama’s real estate landscape. Fluent in Spanish, he frequently publishes market reports to empower clients with informed decisions.
Beyond real estate, Kent is passionate about Panama’s culture, landscapes, and surf-friendly beaches. He lives in Panama with his wife and three sons, embracing the vibrant lifestyle the country offers.
