This is a project that we will watch carefully as it has tremendous potential for Panama. Not just because of the super location and infrastructure, but because one of the largest European real estate companies is behind it. Now comes this article about the master plan approval including RESIDENTIAL Tourism of course.
Howard plans approved
London & Regional Properties will invest $405 million in its
development of the former military base.
2,750 acres to be used for business, residential, recreational and
educational purposes.
JIHAN RODRÍGUEZ/LA PRENSA
More big names/long term investments coming to Panama. Good for Panama.
Cheers.
Future Plans: The former Howard military base will be converted into a
"hub of world class business and commerce," with residential and
recreational areas as well.
The master plan for the development of the former Howard military base
has been approved by the Agencia del Área Económica Especial Panamá
Pacífico (AAEEPP). The plan was submitted by London & Regional
Properties (L&P), one of the biggest private property companies in
Europe.
L&P secured the development deal, one of the world´s largest, earlier
this year. The company will embark on its eight-year development
program beginning in early 2008. L&R hopes to position the former base
as a world class global investment, commercial and leisure destination.
The master plan envisions a variety of uses for the 2,750-acre site,
including a technology park, residential areas of varying density that
can accommodate some 20,000 homes, trade centers, hotels, a resort and a
golf course.
"What we are going to build is a hub of world class business and
commerce. And at the same time, a high-quality urban environment, which
maintains the character of a garden city, said a spokesperson.
The city will house mainly workers and executives of the companies
installed there, but that does not exclude the possibility that others
may be able to buy in to the area.
Some companies have been offered special incentives to set up shop in
the new Howard, including call centers, logistics services, high-tech
manufacturing, data centers and companies involved in aircraft
maintenance and repair.
