March 2010
Panama City, Panama

Hands Down, the Most Exciting Area in Panama 

Image courtesy Panama Pacifico
Near the Pacific entrance to the Panama Canal and just off the PanAmerican highway, Panama Pacifico may well boast Panama's best location.

Dear Panama Insider,

You may think Panama is developing into a tourist Mecca…With all the media attention Panama has been getting lately, people must be coming in droves for the coconuty drinks, the pretty bikini-clad girls, the Caribbean beaches, the rainforest and more. Right? Well…only to a certain extent…

You see, Panama has long been known as a business destination. And it seems, no matter how the fledgling tourism industry grows and improves, Panama just can't shake the "business destination" stigma. But that may be a good thing for this country. After all, mega projects like the Panama Canal expansion, a $5 billion-plus endeavor, bring in all kinds of money. They lead to the creation of jobs and training opportunities. They essentially put Panama on the map.

And though nearly anyone you talk to will say they've heard about the Canal expansion, there's another project that may bring even greater change to Panama. With a total investment of $705 million dollars over the next 40 years, Panama Pacifico is being touted as a sustainable city that will boast 20,000 brand new residences and a million square meters of "green" commercial space.

Located in Howard, a former U.S. Air Force base, Panama Pacifico will be full-fledged city, complete with business parks, special logistic zones, and tourism areas that are expected to generate 40,000 jobs over the next forty years. In a city of scarcely 1.5 million, that's a lot of jobs. 

Construction began in Panama Pacifico in November 2008, and since then, its developers have been working to implement strategies for sustainable development by using renewable energy, reducing pollution, and protecting eco-habitats.

Nearly half of the "new city" will be set aside as green areas. Bicycle lanes and tree-lined sidewalks will give visitors and residents the option of walking and biking in the shade rather than driving. Business buildings in the community will be models of energy-efficient design—solar energy will provide lighting, while design features such as double-paned windows will help conserve energy. Green fingers and forest trails will help avoid the urban heat-island effect that plagues communities across the globe.

It's being called the biggest residential project in the world and Latin America's first green city. The business opportunities abound…oh, and it's a really nice place to live, too. Interested? Click the "current issue” button on the left to download your issue of Panama Insider.

Thanks for reading…

Best regards,

Jessica Ramesch,
Editor, Panama Insider