$50 million Residential Project in Panama


Source: central America data



A residential complex is to be built in a 6-hectare plot and will contain 416 apartments in 8 14-storey buildings within the development area of Costa Sur, in Juan Diaz, Panama.

On March 6 of this year San Marino Eco Development S.A. submitted to the Ministry of Environment an Environmental Impact Study (EIA) to develop a residential project aimed at the middle-upper middle class segment in the Juan Díaz district, District and province of Panama.

The EIA states that "...The project consists of the construction of 8 buildings on 14 levels (PB + 13) with a total of approximately 416 apartments, which will be built around a park / central social area with swimming pool, gardens, sports courts and other amenities. 

"... The project will have a system of internal streets, parking areas for residents and visitors, underground infrastructure (potable water systems, rainwater system, gas, sanitary system, electric) and wastewater treatment plant.  The San Marino Project is based on growing demand for housing solutions that meet the demands of both the local and foreign market resulting from the economic growth of the country, which requires the creation of comprehensive solutions that offer residents facilities and services in a safe and central environment."

The total investment amount is estimated at $50 million.