Panama Investor Blog

Decameron Hotel bought by Caribbean Properties Group LLC

Rumor has it that Caribbean Properties Group has bought controlling interest (85%) in the Decameron Hotel at Costa Blanca for $146 million. With Major Shareholders of CPG being Goldman Sachs they should be well capitalized for expansion and future growth.

    About Caribbean Property Group (CPG)

    CPG is focused on making investments in primary real estate assets in the Caribbean and Central America. The company owns approximately $2 billion in real estate assets in Puerto Rico, including 5.8 million square feet of retail space, 2.2 million square feet of warehouse space and 300,000 square feet of office space. CPG also owns two major hotel-casinos, both in San Juan. CPG, along with joint venture partners, focuses on acquiring income-producing, fixed real estate assets in the Caribbean and Central America across four platforms--hotel, retail, office and industrial.

The Rumor mill

This new category will deal with rumors. I usually don't post unconfirmed rumors, but the nature of Panama does not make it too easy to verify them. Almost daily I receive unconfirmed reports that can have an affect on investment if they are true. I will post them from time to time with my comments and a reliability factor based on the source. Lets start with these.

Rumor has it that a group of Panamanian businessmen have purchased the Delta gas station, the global bank building and the lot next to Boquete Country Inn (Downtown Boquete) in order to construct a large hotel. If true this will greatly enlarge hotel capacity and be welcome news for restaurant and tour operators in the area. More brings more! Reliability factor 70%

Rumor has it that the Red Frog Beach project in Bocas Del Toro is working through environmental and financial issues and will be back on line soon. For more information you can look at this homeowner blog at RF. http://redfrogians.blogspot.com/       Reliability factor 85%

Rumor are flying that Mel Gibson was in Boca Chica last week looking at property. I can confirm this as I was present when he and his group came in by helicopter. Reliability factor 100%

Rumor has it that a large development is being planned for the Fillipe Rodriquez farm in Boca Chica. Previously being developed under the name Playa Grande, the new project is backed by a Chinese group. Reliability factor 80%

Jack Nicolas golf course design team was rumored to be in town to make an assessment of the Boca Chica project. Reliability factor 100%

Rumor has it that Valle Escondido Phase II may be put on indefinite hold.
Reliability factor 100%

Rumor has it that Saul Fhaska will be forced to shorten the ICE tower to 80 stories from the lofty 104 previously promoted and sold due to technical reasons. If true this will be a blow to many who bought apartments in the building slated to be the tallest in Latin America and especially those with penthouses. Reliability factor 70%

It has been reported in the press that the Panamanian government is planning to implement a yellow fever inoculation requirement for all visitors to the country. If true this would be disastrous for the countries tourism sector and its booming construction industry. I have not heard of any cases of yellow fever, but the powers that be are apparently concerned about an outbreak if these rumors are to be taken seriously. Rumor has it that there are emergency meetings between various ministers to stop the health ministry from implementing this latest regulation.  Reliability factor 90%