Buyers Live Trapped in Panama’s Naos Conflict – Families Bought Apartments Facing the Canal.
What began as the purchase of an apartment facing the Panama Canal ended up becoming, for dozens of owners, a battle to protect an asset they believed to be safe.
The Administrative Unit for Reverted Assets (UABR) administratively terminated the Naos Harbor contract after having previously seized 79 apartments in the complex due to the company’s debt to the State.
Homeowners at Naos Harbor Island on Panama’s Amador Causeway face an administrative and legal crisis. After the government rescinded the developer’s contract over unpaid debts, residents found themselves without property titles and discovered their units were seized by the state to recover back fees from the concessionaire.
The Conflict at Naos Island.
- Contract Cancellation: The Panamanian government’s Unidad Administrativa de Bienes Revertidos (UABR) cancelled the land and administration contract with the project developer.
- Seized Properties: Authorities impounded and restricted parts of the complex to recover long-standing financial debts owed by the original developer.
- Missing Titles: Many buyers who purchased luxury waterfront apartments overlooking the Panama Canal are left without legal deeds or clear ownership rights to their properties.
The termination of the Naos Harbour concession left dozens of owners in legal limbo. Some were linked to the seizures ordered by the State. What began as a move to an apartment across from the entrance to the Panama Canal ended up becoming, for dozens of buyers, a battle to protect an asset they believed was safe. The reality is different.
