Panama: $37 million Tourism Project

The development will cover an area of some 6.86 hectares, and will include a circular two-story restaurant (which will be run as a concession), a cobbled square, sports courts, a bicycle path and parking areas.

"The structure, which will be opposite the Seafood Market, has two objectives, in accordance with the environmental impact assessment (IEA) of the project, which has already been approved: namely to improve the operation of the new multipurpose wharf (which opened as part of the second phase of the coastal strip development), and to create a public space to enhance and modernize the site.

The study, prepared by U.S. consulting firm Louis Berger, states that the project will be located just on the margin of the coastal strip on Balboa Avenue, at the 30th Street East exit," reads an article on Prensa.com.
According to information received via email from representatives from the MOP, the project is due to be completed in the second half of 2013.

Source: Prensa.com

More on this topic

Expansion in Panama´s Coastal Highway

October 2010

With an underground tunnel which would connect Avenida Balboa and Avenida de los Poetas the third phase of the coastal strip would be completed.

"In the project statement, published yesterday in Panama Compra, the Ministry of Public Works (MOP) said that 'the studies resulted in solving the interconnection with an underpass and a tunnel which would go under the area of El Chorrillo," published Prensa.com.

$10.4 Million for Panama's Coastal Belt

September 2009

The Legislative Assembly's Budget Commission green-lighted an additional credit for building the second phase of the project known as 'Cinta Costera'.

A total of $52 million are needed to complete the second phase of this initiative, which will run from "the Shellfish Market to 'Plaza 2 de Enero' on East 9th Street in San Felipe", reported local newspaper Prensa.

Panama: Expansion of Coastal Strip Continues

July 2011

The Electoral Tribunal has declared invalid a measure to conduct a referendum to decide on the project.

The construction of the third phase of the coastal strip will continue on the schedule initially established, explained the Minister for Public Works, Federico Suarez.

$52 Million for Expanding "Coastal Belt"

August 2009

Panama's government authorized the project through an amendment to the contract with company Odebrecth S.A.

After the extension, the "Coastal Belt" (Cinta Costera) will reach the old part of the city (Casco Antiguo), a few meters from the "Palacio de las Garzas", the governmental residence of the President.