Donald Trump
in Central America
Wednesday, December 7, 2011
A real estate company has filed a lawsuit against the developer for breach of contract.
The delicate situation faced by Newland International Properties Corp., developer of the Trump Ocean Club International Hotel & Tower complex, has been further complicated by a lawsuit filed by a customer, which adds to three other lawsuits filed by other five clients.
Wednesday, November 9, 2011
Holders of bonds issued by Newland International Properties Corp. are willing to become partners in the project because the developer does not have the necessary capital for the next repayment.
On November 15, Newland International Properties Corp., developer of Trump Ocean Club International Hotel & Tower, is due to pay $31 million in amortization of capital to holders of bonds issued to finance the Trump Ocean Club.
Thursday, October 20, 2011
A proposal has been presented to the bondholders to extend the term of the debt.
$220 million in bonds issued in 2007 to build a luxury apartment building called Trump Ocean Club, owned by tycoon Donald Trump, will be restructured before the next payment of debt, which is due on November 15.
Thursday, July 7, 2011
The structure of 284 meters, the highest in Latin America, was inaugurated on Wednesday in the presence of Donald Trump and President Ricardo Martinelli.
The Trump Ocean Club building required an investment of $430 million, and has a hotel, residential apartments, a 4,200 square meter convention center of, a spa, marina and a private beach island.
Wednesday, March 30, 2011
The Trump Corporation announced its interest in developing a project “even if it's small”, in the old quarters of Panama City (“Casco Antiguo” in Spanish).
The corporation owns the $430 million Trump Ocean Club, its first development in Latin America, and wants it to become a symbol for Panama and Central America.
Thursday, March 17, 2011
Fitch Downgrades Newland Int'l Prop, Corp.'S S220mm SR Secured Notes; Remains On Negative Watch
Fitch Ratings-Chicago-18 February 2011: Fitch Ratings has downgraded Newland International Properties, Corp.'s $220 million senior secured notes to 'Bsf' from 'B+sf'. The transaction remains on Rating Watch Negative due to continuing concerns over further delivery delays as well as to monitor buyers' willingness and ability to close on units upon delivery. Newland International Properties, Corp. (Newland) is developing Ihe Trump Ocean Club International Hotel & Tower (TOC). a multi-use lower located on the Punta Pacifica Peninsula in Panama City, Panama.
Thursday, February 24, 2011
The first Trump Hotel Collection of Latin America will open in Panama City in June 2011.
"The project required a $ 400 million investment, of which 220 million were obtained through a bond issuance held by Newland International Properties Corp. in 2007", reported Prensa.com.
Thursday, February 10, 2011
The square meter overlooking the ocean at the great buildings of Panama City is listed on values between $ 2,500 and $ 4,400.
The cost of living or to have an office in one of the skyscrapers built or which are under construction in Panama City, may seem too high for locals, but for corporate executives who know the price in London or Hong Kong, these prices look like bargains.
Tuesday, November 30, 2010
The building located on the Panama Bay is 70 stories high and will be the largest hotel in Latin America.
The hotel, the first in Latin America of the Trump Hotel Collection brand, has 369 rooms of between 48.8 and 145 square meters, a 929 square meter spa and about 1,500 square meters of events areas.
Friday, August 6, 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.
Six months after the first completed units were handed over to their new owners, the creation of the project that gave life to Trump Ocean Club and its sail-shaped tower is the subject of an interview by AméricaEconomía.com with the Panamanian developer, Roger Khafif, president of K-Group and Trump's partner in the project.
Thursday, April 22, 2010
The $400 million real estate project “Trump Ocean Club”, is slated to be ready by early 2011.
Roger Khafif, project leader, told AP that they have already completed 66 of the 70 stories of the tower, whose construction began on May 2007.
Thursday, April 2, 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.
Its opening is planned for August 2010. To date, some 90 thousand square meters have been constructed, 35% of the 265 thousand in total.
Friday, January 9, 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.
Fitch Ratings downgraded $220 million of debt on the Trump Ocean Club project in Panama City, warning price declines “could lead to higher than expected default rates for existing buyers.”
Wednesday, August 6, 2008
Donald Trump's company Trump Entertainment is planning on opening it's first gaming facility outside of the United States on the Pacific Ocean in Panama City.
The casino will be part of the Trump Ocean Club hotel and condominium complex currently under construction, and will likely open to coincide with the condo in either 2009 or 2010.
Wednesday, July 16, 2008
Almost 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.
The 70-story development is now under construction at Punta Pacífica.
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