Roberto Henriquez, Panama’s Minister of Economy and Finance, sent via his Twitter account – “Unemployment in Panama is at 5.6%, the lowest rate in 45 years. Together we will resolve the problems of health and education.” The unemployment rate in Panama continues to fall and in fact I don’t really trust this 5.6% number because I think in reality it’s even lower. Large business owners and employers will tell you they are having more and more problems finding qualified workers to fill the positions already available. Both the government and private entities are working hard to “train up” those Panamanians who are ready and willing to work, but who lack a skill set that would allow them to enter the labor market.
Like, a short course in welding and presto- there’s a new welder. In three years he will be a relatively experienced welder. The unprecedented growth in the Panamanian economy will continue to generate additional revenue for the government, which they can spend to fix the problems of health and education (but most likely won´t) mentioned by Minister Henriquez. And of course the headlines today are dominated by the issues of the killer antibiotic resistant bacteria in the Social Security hospital (health). Is Henriquez sounding presidential yet? He’s already running for president in 2014, although he has not formally announced the start of his campaign.
Let´s just hope a real president shows up this time and does his job.
REDUCED FOR QUICK SALE…ONLY $249,000!!!
Experience life in complete harmony with nature in your private spa-like mountain retreat at Altos de Cerro Azul. 360 square meters of construction includes 4 bedrooms, 5 baths open floor kitchen plan all situated on a multiple terraced 1640 square meter lot. This lovely property also includes a guest house.
http://www.twooceansproperties.com/real-estate-property-details.php?detail_id=1709
The rich also get flooded. These images are not from Las Mañanitas, Curundú or some suburb of San Miguelito, but rather from one of the most exclusive neighborhoods of Panama, Punta Pacifica, which flooded the heavy downpour that lashed the capital city. In this flood, classes were set aside, because the rich, poor and even billionaires were mixed, because the important thing was to get safely away from the place to try to save their cars, regardless of what brand they might be. This sector of the capital city was cut off for more than four hours in heavy rain that fell, no one could enter or leave. The street was flooded and cars such as Lexus, Porsche, Audi, BMW were under water up to their roofs, as were the older and broken down cars of the construction workers. Here both the boss and worker were victims of the weather. When the rain finally stopped, people were left with no other option than trying to use their wits to get out of the area. Some became Spider-Man, as they skillfully climbed on the fences of the luxury condominiums in order keep from getting their feet wet. Others simply took off their shoes and rolled up pants, and then jumped into the pond contaminated by sewage. The trucks of the buildings under construction in the area were the most logical solution so that people could leave the area. Some people who looked like “yeyesones” (rich yuppies) used them, since the issue was to get from one side to the other.
One who saw everything from a black colored Suburban was none other than the billionaire Ricardo Martinelli. With a smile he told the media: “I love Panama,” and was not stressed about what had happened, since he understood that was part of the bad weather. However, he was clear in stating the government had to solve this problem.
Those who did not witness all the fuss were the authorities who are supposed to deal with this kind of a situation. People threw themselves into the water without any kind of security in order to get to their homes. No government official appeared at the site from the Fire Department, the National Police, the Ministry of Public Works, or the Municipality of Panama City. Only two guys wearing shirts from the National Civil Protection System tried to pull out a Toyota Rav 4 that was stranded when he tried to cross the flooded area at high speed.
The victims were upset and worried, and demanded a response from the authorities to this situation. Those who complained most were the residents, who were eager to show they have paid much money to live in an exclusive area, but every time it rains, everything is flooded.
Panama is a really beautiful country. The people, the nature and the business opportunities are ideal, but one issue for the Europeans in general and especially the Germans is the lack of true, authentic German bread. Mr. Ulrich Schwark and Mr. Peter Stehling, the owners of the Two Oceans Group, had exactly this problem. And then a potential solution unexpectedly presented itself when someone listed a bakery for sale with their Two Oceans real estate group. The two men put their heads together, did the proper due diligence, and made the decision to purchase the business for themselves.
For starters, they hired an Austrian baker and a German pastry baker. The new owners made a substantial investment in the property itself to renovate the showroom to make it nice, and comfortable. Now more than a year has gone by, and they managed to secure the primary contract to supply bread products to all flights departing from the Tocumen International Airport. They create true and authentic German Rye bread, as well as cakes, cookies, and other specialty items that are simply impossible to find anywhere else. They now make Ray bread, Rye bread with nuts, a special 7 grain bread as well as different kind of Baguettes, such as Onion Baguettes, Italian Baguettes, and French Baguettes. For pastries they offer typical German sweets like “Bienenstich”, “Black forest Cake“, Cheese cakes and much more.
The bakery is called “The Bread Company” and is located in Plaza Paitilla. From Ave. Balboa, turn right at the Popeye’s restaurant, and The Bread Company will be located on your left hand side, in front of the Banco General.
A total of 710,403 visitors came to Panama in the first quarter of 2011, 9.4% more than the same period last year, representing an income of foreign currencies of $645 million dollars. The Department of Social and Economic Analysis of the Panamanian Ministry of Economy and Finance said in a statement that 70.5% of people admitted into Panamanian territory were tourists. He also indicated that the other 25.9% were cruise ship passengers and 3.6% hikers. According to the source, most visitors came from South America (37.2%) and North America (36.4%) and the rest (26.4%) came from Central America, West Indies and Europe. They also reported that from January to April 2011, hotel occupancy in Panama City was 68.6%.
Once again, the house formerly owned by the ex-dictator of Panama, Manuel Antonio Noriega, located on 72nd Street in the Altos del Golf neighborhood of San Francisco, failed to be sold at an auction. The public event held by the Ministry of Economy and Finance ended yesterday for the second time without bidders interested in buying the property, valued at $2.5 million dollars. According to Julio Berrio, one of Noriega’s lawyers, no one has wanted to participate in the auctions because no one wants to buy trouble. “That house was confiscated illegally by the state,” said Berrio, clarifying that Noriega bought it with a loan from the Social Security Fund (CSS). The lawyer said if Noriega’s house gets a new owner, he would legally intervene. The house, which sits on a plot of land measuring 3,245 square meter and which was purchased by Noriega for $68,000 dollars.
The Trump Panama Hotel and Residences are already open, and the Ocean Club Baylofts are already starting to receive their first residents. It’s an exciting time for the project. Here’s what we know: At $4.08/meter on the residence side, the monthly fees are significantly higher than any other building in Panama. Residents will receive free cable, free internet, free phone service, and free water. To our clients in places like Miami and Las Vegas, who are probably paying three times that amount now, it’s a bargain. And the 20 year property tax exoneration has been approved, meaning 0 property taxes for 20 years.
Beach Club on Isla Viveros is in construction. The Trump Panama catamaran will be running daily non-stops from Panama City to the beach club, and the fare will be free to residents and hotel guests, the costs of which are included in the monthly maintenance. Beach club memberships are a one time fee and will be due once the club is ready.
Rental demand is still strong in the City as multinationals continue to relocate from countries like Venezuela, Colombia, Salvador, United States, Canada, and Mexico.
Hotel Occupancy year round is still averaging 70% plus in Panama City
They will see increased competition from large operators like Hilton and Hard Rock, both of whom will have fully operating hotels in 2012 and rates may come down a bit.
Trump still does not have a casino operator, so don’t expect the Casino to be up and running until the 4th quarter of this year at the very earliest
We are being told the beach club is going to be ready by December, so plan on January/February of 2012. Good news is, it doesn’t take very long to build what they have planned out there
What has happened in Trump Ocean Club and what happens in every single project in Panama is the following: prices in the building always experience a temporary dip just before the building is delivered from sellers who cannot close.
Our agents have personally toured the Trump project as recently as last week and can tell you that ZERO quality concerns are going to bring this building’s values down. They have put in some of the best material money can by, and the finish-quality of the work exceeds the best buildings in Panama.
Prime Comercial Lot for Sale in Ancon: approved for 1,200m² construction, 22 parkings and just 200m from ACP and Balboa Harbour. Come to see a rare find in one of Panama’s most desired location!!!
This is a great opportunity to purchase a lot with pre-approval for an office in Ancon. It´s very rare to find any commercial possibilities this close to Balboa Harbour.
Atractivo Lote comercial a la Venta en Ancón: aprovada para1,200 m² construcción, 22 estacionamientos, a 200m de la ACP y Puerto de Balboa. Ven a ver este hallazgo en uno de los lugares más deseados de la Ciudad de Panamá. Atrévase a soñar en grande!!!
Esta es una excelente oportunidad para comprar un lote pre-aprobado para una oficina en Ancon. Es muy raro encontrar posibilidades comerciales tan cerca de Balboa Harbour.
Functional and luxurious apartments in Balboa Avenue. Close to everything that you need with breath taking views. Must see
THE BUILDING:
- 31 stories
- only 119 owners
- All apartments are convertible into two bedroom apartments
- The apartments will range from 101 m2 to 131 m2 . Three of these will have ocean front view while the other two, a panoramic city view.
- One parking space per apartment
- Three high speed passenger elevator
- 24 hour security
- Water reserve tank with pumping system
- Full auxiliary power generator
- Floor to ceiling height of 9 feet
- Parking area for visitors
THE APARTMENT:
- Apartments A, C, D and E have balconies.
- Master bedroom with full bath and walk-in closet
- Living room, dining room, open kitchen and laundry room area
- Guest bathroom with shower
- Kitchen with natural gas hook, imported ceramic tiles and granite counter top
- Imported ceramic floor
- Connection for cable TV
SOCIAL AREA:
- Two levels of social area
- Level 30: infinity swimming pool looking to the ocean, sun deck, jacuzzi, roofed terrace, party room and baths
- Level 31: Gym, game room and baths
Funcionales apartamentos en Avenida Balboa. Cerca de todo lo que usted necesita con vistas espectaculares. No se pierda esta oportunidad.
Ahora mismo hay una oferta en los apartamentos que miran hacia la ciudad a un precio que no se repetira.
Aproveche mientras dura esta oferta.
Spectacular apartment with ocean views, only 2 apartments per floor, it has 156 m2 of construction, 3 large bedrooms, 3.5 bathrooms, kitchen, living room, bedroom and bathroom, balcony.
Espectacular apartamento con vista al mar, solo 2 apartamentos por piso, el mismo cuenta con 156 mts2 de construcción, 3 amplias recámaras, 3.5 baños, cocina, sala-comedor, cuarto y baño de empleada, balcón.