Trump hails brisk sales of Panama Ocean ClubAlmost 80 percent of Trump Ocean Club in Panama has already been sold – two years before the development is due for completion – announced Donald Trump Jr., vice-president of the Trump Organization.Wednesday, July 16, 2008 ![]() The 70-story development is now under construction at Punta Pacífica. "Panama is a much more mature market than I had thought," Trump Jr. said. And he added an interesting detail: When the development first went on sale, 80 percent of the purchasers were from the United States; now 80 percent of them come from elsewhere. Source: Prensa.com Trump project in Panama downgradedJanuary 2009 The Fitch assessment provides a glimpse into the way the financial community is reevaluating even well performing developments in the wake of the credit crunch. Trump Ocean Club's Reasons for Being in PanamaAugust 2010 Growth and economic stability, legal security, fiscal incentives, liberal immigration policies, the 2006-2008 real estate boom and the fact that hurricanes avoid it. 35% of the Trump Ocean Club Already BuiltApril 2009 Its promoters claim that the decline in the pace of sales is not too much and that they have already sold 80% of the 1,010-unit project. Trump Ocean Club's Ratings DowngradedMarch 2011 Fitch Downgrades Newland Int'l Prop, Corp.'S S220mm SR Secured Notes; Remains On Negative Watch |
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