Panama: Real Estate Investment and Reverted Areas

Of the 137 000 hectares of property along the route of the Canal that was returned to the Panamanian State, only about 4,600 still need to be sold or let, according to the Reverted Property Management Partnership’s (UABR in Spanish) inventory taken in October 2011.

Previous sales or grants of the reverted areas have lead to important developments, such as the City of Knowledge in Clayton, various neighborhoods, Albrook Mall, the Amador tourist area, the Panama Pacific Special Economic Area (Howard), the airport, investments in ports and logistics, developments in Rodman etc. These have signified $127 million for the Panamanian State in contributions to the Trust Fund for Development, along with another $270 million previously collected from the same source by the Inter-oceanic Region Authority (ARI in Spanish) – a total of $400 million.

An article on Capital.com.pa details the current administration of the UABR’s proposals for the best use of the remaining reverted areas.

Source: Capital.com.pa

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