The Contract for the Naos Harbour Island in Amador has Been Terminated by Panama
Panama’s government officially rescinded the development, lease, and investment contract for Naos Harbour Island Inc. on the Amador Causeway. The State’s decision follows a comprehensive review of concessions in the area and was published as Resolution No. MEF-RES-2026-1134 by the Unidad Administrativa de Bienes Revertidos (UABR). The measure is the first known termination within the review of Amador’s concessions. The decision comes amid a dispute over a multimillion-dollar debt. The Naos Harbour project occupies concessioned land along the Amador Causeway, where the government is currently evaluating existing contracts and their obligations. The termination of the Naos Harbour Island contract is tied to the following specific details:
- The Cause: The government cited systemic contract breaches and significant debt for unpaid basic rent, with UABR estimating the company’s delinquent payments at roughly $10 million out of a total $12 million across Amador projects.
- The Developer’s Stance: Representatives for Naos Harbour Island dispute the UABR’s math, acknowledging only about $4 million in debt and citing disagreements over economic obligations and a rejected payment-in-kind.
- Current Status: The company has rejected the administrative termination and is currently challenging the State’s action in the Supreme Court
This move marks the first major administrative cancellation within an ongoing broader State review of troubled, delayed, or non-compliant tourism concessions across the Amador Causeway.
The evaluation of the Amador causeway concessions produced its first administrative decision: the State terminated the development, lease and investment contract of Naos Harbour Island Inc., alleging breaches. The deputy director of the UABR, Gilberto Alemán, confirmed that, “in defense of the interests of the State”, the institution administratively resolved the termination of a contract due to non-compliance.
