The new finance minister, Frank de Lima, remarking on the possibility of building in the area of the former U.S. Embassy on Avenida Balboa, said at a press conference, "... personally I think that this land could be better used. "
"The minister announced that he will meet this week with the architect Ignacio Mallol, with whom the State has commissioned more than $7 million in development plans. He will also meet with the Minister of Health, Franklin Vergara, to analyze whether the new cancer hospital , which has already been assigned land in Chivo Chivo, near the future city hospital can be built in the area of the former embassy.
Regarding the disappearance of the historic building, he said "either way it will be demolished, whether it is replaced by a hospital or a financial tower", reported Prensa.com
Source: Prensa.com
More on this topic
November 2010
The Ministry of Economy awarded company Mallol & Mallol the design of the project.
Official awarding could be delayed due to the filing of a complaint with the Public Procurement Department by Pinzón Lozano & Asociados.
"Pinzón Lozano & Asociados ensures that the commission´s report incurs into omissions and arbitrary decisions while implementing approved parameters." He further claims that the Mallol consortium's proposal does not meet the statutory minimum requirements", reported an article in Prensa.com.
October 2011
Panama's government has suspended the controversial construction of the tower and transferred the land to the Ministry of Health who announced that a new Children's Hospital will be built there.
This was confirmed by Economy Minister Frank de Lima, putting an end and the controversy that had triggered the construction of the Financial Tower on Balboa Avenue.
November 2010
Of the 6 participants in the bidding for the $ 8 million project, Mallol & Mallol, obtained the highest score.
With 94 points out of a total of 100, the company overtook the firm Pinzón & Lozano by 10 points. In third place with 72 points was consortium Kobi, Karp, FIMS & Sum.
July 2011
The Ministry of Economy is seeking alliances with private companies to build the project via a public tender.
Minister Alberto Vallarino told the press, "We hope to get interest from the private sector in this partnership with the government. We are probably going to choose the company that proposes the best share offer and value per square meter for the public entities who will buy the tower. "
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