The value for building permits in Panama grew 27% in 2013 in comparison to the previous year, according to official sources, and specialists consider that this industry sector will keep growing focusing on the construction of homes, hotels, and logistic developments.
36% of the investments in the construction industry in Panama are aimed at apartment and condo projects.
36% of the investments in the construction industry in Panama are aimed at apartment and condo projects.
In 2013’s third trimester, 55 buildings began construction totaling 1,539 apartments, according to official sources.
Second in line is the construction of individual homes with 14.3%.
Grupo Ashkenazi started in the real estate and construction business in the mid 90’s, with ambitious projects in Panama City, Colon, and in other parts of the country.
In Colon, it has built ample and comfortable warehouses in Coco Solito, an expanded area of the Colon Free Zone with wide streets, loading areas, mezzanine, warehouse area on the first and second floors, independent access entries, customs services, and area security. The construction area includes over 300 thousand square meters.
In Panama City and surrounding areas, the Group’s Real Estate and Construction division has developed various projects from home solutions to shopping malls.
Among its most ambitious projects is El Country gated community, which includes houses for mid/high income level families and is located in the Altos de Panama neighborhood. This residential project stands out from the rest for its quality building and comfortable and modern styles. It has various types of residence models and the construction area comprises of approximately 93 thousand square meters.
The City Tower building also stands out. It is an elegant apartment building located in the Punta Paitilla neighborhood, which includes various independent common areas, a panoramic swimming pool, squash court and many other amenities. Its construction area covers 12 thousand square meters approximately.
In the San Francisco area of the city there is the Country Club building, conveniently located and with many amenities for its residents.
In Altos de Panama another residential project is currently under construction, created to provide comfort and safety in a closed and protected environment that is much appreciated by its future residents.
Grupo Ashkenazi has created a great variety of home solutions and commercial spaces with a more popular scope, such as Vista Hermosa Plaza, Las Piramides and the La Reina residential area.
Very aware of Panama City’s constant growth and the needs of those who live around it, Grupo Ashkenazi is building the Mega Mall shopping center in the 24 de Diciembre area, providing a wide array of comfortable and ample commercial spaces, most of which have already been sold or rented. Its construction area surpasses the 150 thousand square meter mark, and will provide a great amount of parking spaces for its client’s comfort.
Currently, Grupo Ashkenazi is planning new projects, one of which is Panatropolis, an ambitious development that includes 850 hectares next to the Tocumen International airport and the Corredor Sur highway.
