Panama, Sunday 25 of March of 2007
Panama will attract thousands of Latin investors in the next years.The metamorphosis of the city the real estate development raises a new urgent challenge of urban ordering for the authorities. For the next years it will have to invest about 2 billion dollars in improvements to the infrastructure. Víctor D. Torres vdagoberto@prensa.com
All species of the planet have a special relation with its immediate habitat. From the evolution of the cities, the human beings have identified themselves with their metropolitan surroundings, developing a complex symbiosis in which the city molds its inhabitants as much as they themselves change the large city. A booming real estate sector, Panama faces the challenges simultaneously to improve the territorial ordering that it looks for to solve the deficient road infrastructure and of basic services.
"We must define the city of the future towards year 2019 and that we cannot obtain it if there is no consensus between all the sectors", Juan Carlos Navarro, mayor of the district of Panama, during the forum "Panama 500" that was celebrated last week. But pretensions of country to turn city cosmopolitan as the emergent large cities of Singapur or Dubai are threatened the measurement that continues the rate of disordered growth, with streets in badly shape, a chaotic and obsolete massive transport. "We must take advantage of the experiences other countries and to make of Panama a city with much development, ordered for people", said the minister of House (MIVI) Balbina Herrera.
Boom without precedent In the last years, the real estate impact in Panama has been accelerated. In 2006, the construction registered the highest growth of any economic segment of the internal sector, raising 17,4% 665,7 million dollars. According to the Panamanian Association of Brokers and Promoters of Real estate, the real estate investment went off 25% to 2 thousand 775 million dollars. "the real estate development does not have precedents and the foreign and local investment will continue growing in the next years", assured architect Ignacio Mallol, who does not share the opinion of which the city has grown in disorder. "All my life have constructed with an urban planning of the Ministry of House". But all do not agree. Alliance Pro City was founded on 2006 indeed to express the citizen frustrations by the excesses of the construction. "quality of life with the dangerous saturation of our cities is destroyed", wrote one of its founders, architect Rodrigo Mejía-Andrión.
At least 100 buildings of more than 20 floors are programmed to be constructed in the next years in different points from the city and some already they are in execution, according to the company Prima Panama. Almost 11 thousand apartments will be available, mainly in Balboa Ave., Costa del Este and Punta Pacifica. The hundreds of projects of residential houses are added that are constructed in beach and mountain areas.
Fatal Attraction
The political problems in Venezuela, Colombia, Peru and Ecuador continue favoring immigration towards Panama. In next the four years it is hoped that thousands of Latin American buy more properties in the country, added to thousands of baby boomers of approximately 80 million that will look for second residences in the region. The migratory restrictions imposed by the United States for foreigners also have overturned the glance towards the country, fortified with the regional connections of hub of the Américas de Copa Airlines.
Poor infrastructure But, according to the MIVI, in the next years at least 2 billion dollars will be needed to renovate the systems of sewage system, potable water and electricity. "the State is not removing the greater benefit from the investment", said Raisa Banfield, member of Alliance Pro City. "it is leaving investors use as the existing infrastructure that was designed and planned in the ´50s". Banfield indicates the changes allowed in the zonifications, the gift of the land capital gain and the lack of reinvestment of the gain of the proprietors in infrastructure improvements.
Jaime Salas, municipal engineer of the district of Panama, thinks that it is the best moment to solve the infrastructure problem, which are backdated. There are samples of what the govt have been doing. The projects of cleaning of the bay of Panama, the coastal tape, the urban transport, the Panama-Colon highway and the systems of potable water conduction, are passages in the correct direction.
Panama will attract thousands of Latin investors in the next years.The metamorphosis of the city the real estate development raises a new urgent challenge of urban ordering for the authorities. For the next years it will have to invest about 2 billion dollars in improvements to the infrastructure. Víctor D. Torres vdagoberto@prensa.com
All species of the planet have a special relation with its immediate habitat. From the evolution of the cities, the human beings have identified themselves with their metropolitan surroundings, developing a complex symbiosis in which the city molds its inhabitants as much as they themselves change the large city. A booming real estate sector, Panama faces the challenges simultaneously to improve the territorial ordering that it looks for to solve the deficient road infrastructure and of basic services.
"We must define the city of the future towards year 2019 and that we cannot obtain it if there is no consensus between all the sectors", Juan Carlos Navarro, mayor of the district of Panama, during the forum "Panama 500" that was celebrated last week. But pretensions of country to turn city cosmopolitan as the emergent large cities of Singapur or Dubai are threatened the measurement that continues the rate of disordered growth, with streets in badly shape, a chaotic and obsolete massive transport. "We must take advantage of the experiences other countries and to make of Panama a city with much development, ordered for people", said the minister of House (MIVI) Balbina Herrera.
Boom without precedent In the last years, the real estate impact in Panama has been accelerated. In 2006, the construction registered the highest growth of any economic segment of the internal sector, raising 17,4% 665,7 million dollars. According to the Panamanian Association of Brokers and Promoters of Real estate, the real estate investment went off 25% to 2 thousand 775 million dollars. "the real estate development does not have precedents and the foreign and local investment will continue growing in the next years", assured architect Ignacio Mallol, who does not share the opinion of which the city has grown in disorder. "All my life have constructed with an urban planning of the Ministry of House". But all do not agree. Alliance Pro City was founded on 2006 indeed to express the citizen frustrations by the excesses of the construction. "quality of life with the dangerous saturation of our cities is destroyed", wrote one of its founders, architect Rodrigo Mejía-Andrión.
At least 100 buildings of more than 20 floors are programmed to be constructed in the next years in different points from the city and some already they are in execution, according to the company Prima Panama. Almost 11 thousand apartments will be available, mainly in Balboa Ave., Costa del Este and Punta Pacifica. The hundreds of projects of residential houses are added that are constructed in beach and mountain areas.
Fatal Attraction
The political problems in Venezuela, Colombia, Peru and Ecuador continue favoring immigration towards Panama. In next the four years it is hoped that thousands of Latin American buy more properties in the country, added to thousands of baby boomers of approximately 80 million that will look for second residences in the region. The migratory restrictions imposed by the United States for foreigners also have overturned the glance towards the country, fortified with the regional connections of hub of the Américas de Copa Airlines.
Poor infrastructure But, according to the MIVI, in the next years at least 2 billion dollars will be needed to renovate the systems of sewage system, potable water and electricity. "the State is not removing the greater benefit from the investment", said Raisa Banfield, member of Alliance Pro City. "it is leaving investors use as the existing infrastructure that was designed and planned in the ´50s". Banfield indicates the changes allowed in the zonifications, the gift of the land capital gain and the lack of reinvestment of the gain of the proprietors in infrastructure improvements.
Jaime Salas, municipal engineer of the district of Panama, thinks that it is the best moment to solve the infrastructure problem, which are backdated. There are samples of what the govt have been doing. The projects of cleaning of the bay of Panama, the coastal tape, the urban transport, the Panama-Colon highway and the systems of potable water conduction, are passages in the correct direction.
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