A Spanish group has announced a new residential tower project to be build in Punta Pacifica starting in Mid 2006. This is another major project designed for the foriegn market and more specifically for the European market. Here is a machine translation of the article in Spanish.
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MADRID, Spain. More Spanish euros enter Panamanian skies, in the form of gigantic and futurist towers of hotels and apartments, along with a new Airline that will make direct flights from Madrid to Panama. From the Fair the International of Tourism of Spain, jerarcas of Spanish partnerships announced that they hope to ensure the success its multi-million investments in hotels and apartments of luxury, through a greater availability of airline seats to the country. On the one hand, the president of Group Enterprise Mall, Julio Noval Garci'a, confirmed Thursday that the project of the Lights of Panama, that was in danger of not being made by difficulties in the negotiation of lands, will begin in the middle of this year. The project will not be carried out in Avenue Balboa as initially it had been planned, but in Punta Pacific, near the new Multi-seat commercial center and will, according to Noval, a total investment that surpasses the 400 million dollars, over the next the three years.
Mall group anticipates that the city-planning complex, made up of a commercial center, a building of a thousand apartments and a hotel of 200 rooms, will be completed in 2009. The Mall Group will travel to Panama to complete details of the project, and unofficially it is spoken of a possible meeting with the president, Martín Torrijos. Julio Noval described to Panama like "a strategic site" for the market of second homes. He offered that the Los Faros de Panama will be first of a series of new investments in the country.
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