Second Attempt at ATLAPA Auction

SO FAR no interested parties have paid the deposit that enables them to bid for Panama's ATLAPA convention center in the next auction scheduled for Monday September 16.

The convention center is up for sale to help finance the construction of a new center in Amador.

Prensa.com reports: "Everything suggests that the story on that day will be no different. To date, no company has submitted the deposit required for participation in the auction which has a price tag of $124 million. "If there is no interest, the Public Procurement Act states that a third attempt can be made.

However, if the third attempt is reached, the price will be two-thirds of the reference price, which is $82 million. If still no results are forthcoming the ATP can auction the property for half the reference price ($62 million).

Panamanian businessmen have been concerned about the possible sale of the convention center, as the country would be left without a place to hold conferences in the city