January 2010
Panama City, Panama

The Project that Will Put Colonial Panama on the Map

This area is about to see major change…and real estate owners here are likely to reap the rewards.

Dear Panama Insider,

It used to be that change in this area was rare. A new apartment building, a new restaurant or club, even a new coffee shop was a surprise. Today, I am finding it a bit harder to keep up. I walk to the my favorite plaza, and there's a new restaurant in the corner. A mini-mall is said to be under construction around the corner. There's even a new beauty salon...In a colonial enclave as small as this, these changes are big news.

Despite all this change, this sector retains an old-world charm. Stately trees frame monuments and provide shade for the many outdoor cafes. On any weekend night, tourists and fashionable locals grace the tables. They sip tannats and Chilean carménères, ordering gourmet ceviche or light seafood curries or tantalizing Portobello bruschette. But not all is elegance—a block over, five local boys kick around a soccer ball. Their audience sits on rusty folding chairs and at least one lady in the crowd has rollers in her hair.

Why are so many drawn to this area of contrasts? Most of the expats living here today will tell you the answer is a blend of different factors. The old cobblestone and brick roads, the French- and Spanish-colonial architecture, the local flavor…all these add to the appeal.

But your Panama Insider editors have been keeping close tabs on this area and projects that might speed or slow development here. We've reported on hotels and residential projects that will draw more visitors and add cache to the area, but this year we have something much bigger to report...

The big project we've been waiting for:

Late last year, Panama City saw the inauguration of …Click here to continue reading

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Thanks for reading, Panas.

Best regards,