La Prensa ran this story this morning and it states that an invitation has been made for the government of Panama to participate in the real estate show in Spain. It is not made clear whether the government as accepted the offer. If they did, it would be the first time the government would participate in a promotion of real estate that I am aware of and a sign that things are not goingvery well in the real estate market. In the past the private sector has been the real estate promoter in various fairs around the world.
Panama has been invited as a guest country to participate in the real estate fair Barcelona Meeting Point, one of the most important in Spain, which has been held for 11 years.
The fair will give Panama the opportunity to present itself as a real estate investment option and perfect location for second homes. Organizers of the international event report already having had discussions with various parties involved in the Panamanian real estate sector, including the Presidencia de la República, the Instituto Panameño de Turismo (IPAT), and real estate associations.Panama will have a 2000-square-meter exhibition space at the fair, which last year attracted some 8,500 companies and 22,000 visitors.
Among the other countries participating in the fair in 2007 were Brazil, Turkey, United Arab Emirates, Hungary, Romania, Poland, Portugal, the Dominican Republic, Panama, Mexico, Netherlands, Germany, United Kingdom, United States, Argentina, Bulgaria, Nicaragua and Morocco.During the last two years Panama has run an intensive promotional campaign to attract foreign investment in all sectors of the national economy.
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