With just a month left before breaking ground, Donald Trump’s first signature development in Central America is quickly selling out. The announcement of the Trump Ocean Club International Hotel and Tower created a sensation in May when Mr Trump unveiled the plans for the 2.4 million square foot project, to be located in one of Panama City’s hottest new districts.
Featuring 500 condominium units and 300 hotel units, the 65-story waterfront tower design flares like a fully deployed sail over Punta Pacifica, Panama City, and competition is heating up for what remains of some of the most affordable Trump real estate in the world.
No expense has been spared to maintain the Trump standard of ultimate living. The luxurious multi-use project is estimated at $220 million, making it the largest real estate investment in Latin America. Clients will have use of a yacht and fishing club, a full-service spa with Turkish baths, international casino, business center, boutiques, restaurants within the complex, and an exclusive beach club set on Cantadora island, a 60-minute ferry ride away.
Construction is set to begin in November 2006 in collaboration with K Group Developers, headed by Roger Khafif, to be inaugurated in 2009.
The business magnate’s name is not the only allure – Panama is fast becoming one of the most sought-after destinations for investment, retirement and vacation real estate, matching low-cost living with modern amenities. Conde Nast, International Living and Modern Maturity have all ranked it among the best places in the world for real estate and retirement. The health care system is also attracting its fair share of health tourism, offering high-quality medical services at a fraction of North American prices.
Pristine beaches, political and economic stability and a rich incentive program for retirement and foreign investment have made Panama a clear favorite as a setting for this latest Trump venture.