I shall assume, if you’re reading this, you have been looking around Central America and/or, at least, Panama. Since 2005 the Panama real estate market has been in a “boom”. If you are interested in large or small; developed or undeveloped, private residence or resort/ marina ownership – I encourage you to read on.
Interestingly, everyone wants to be – first; meeting the local farmer or lawyer (since few real estate brokers existed) to “make a deal”. Well, by 2008 this was becoming more and more difficult. Being 2nd still wasn’t so bad, however,its simply not the same as being -“first”.
Well, the good news is the Province of Veraguas, particularly along the Pacific Coast in the area of Bahia Honda and all the islands in the area.
Not much has been heard from this area for a number of reasons. Accessibility, due to attention of available areas close-in to Panama City and as far from Panama City as the Azuero Peninsula. However I would guess the most important reason, was the fact of larger conglomerates, and consortiums have been acquiring larger tracts in the area – for future development – since 2004 and 2005.
Bahia Honda is close-in to the group of Pacific Islands, some already in various stages of development. Additionally the Government placed the waters of this coast in conservation and wildlife protection and National Parks. Prohibitions against Commercial Fishing, by example, as the Government encourages the area for Sport fishing and tourism.
Purchasers in the area reportedly, include the President of the Republic of Panama, Richardo Martinelli; the George W. Bush Family, Catalina Land Co (Paul Wolff of N.Y.); Bahia Honda LDC (Associated with Catilan, S.A.); Actor Mel Gibson and others in the film industry, to name just a few of the most well known investors.
We represent the ODESA Company, as their Administrator. The waterfront acreage they have is the most ideal location in the entire Bay. ODESA was locally formed to acquire the 182 acres of waterfront from five different Fincas or farms. Their acreage extends more than 3.5 kilometers of continuous shoreline ODESA processed the entire property with Panama Government Certifications and the Government offices are currently conveying title from the Republic of Panama
to ODESA; with the entire process being completed by this year end.
Current Price is $5,000,000.
BAHIA HONDA, joint development
HIDDEN BEAR DEVELOPMENT
(Oso Escondido Desarrollo,S.A. “ODESA”)
SEA IDOL INVESTMENTS
(Mar Idolo Inversiones, S.A. “MISA)
Property Managed by: Lane & Medina Panama Property Management.