Panamas continuing building boom
IN THE MIDST of a Panama construction boom a few years ago, one real estate commentator quipped that Panama’s national bird the harpy, should be replaced by the crane which had an ever growing presence on the skyline.
With current and developing projects, Panama is once again proving a boom time for renters of construction equipment.
Residential developments, waterworks, a pier and shopping centers are some of the projects for which environmental impact studies were submitted in Panama in June.
A report “Construction Projects in Panama – June 2015”, prepared by the Business Intelligence unit at CentralAmericaData.COM, contains a detailed list of major construction projects for which environmental impact studies (EIS) were presented to the National Environmental Authority (ANAM)
In the area of residential development, the company Sociedad Urbanizadora del Caribe SA submitted an EIS for a project called Urbanización Santa Sofía, to be developed in the east sector of the Capital District, in an area measuring 54 hectares. The study indicates that the residential area will be divided into 1,656 lots and areas for easements, infrastructure and equipment. The estimated investment by the developer is $64.5 million.
Jardines de la Espinoza is another residential development aims to construct 1,390 single-family homes on one level and a shopping center with 40 stores in front of the residential area. The company Grupo Espiova La Chorrera S.A. indicted in the EIA that the project will be built in the district of La Chorrera, province of Herrera. The estimated investment is $55 million.
The Ministry of Public Works presented an EIA for canalization of the Changuinola River and dredging of the river Berma in Changuinola, Bocas de Toro. The work will require an investment of $10.5 million.
