Panama Apartment prices a bit lower

INTERESTING ARTICLE IN TODAY'S LA PRENSA POINTS TO LOWER APARTMENT PRICES IN PANAMA BUT ITS NOT AS SIMPLE AS IT MAY SEEM INITIALLY IT WILL REQUIRE SOME WORK TO GET A GOOD DEAL, SEE ARTICLE BELOW AS PUBLISHED IN LA PRENSA TODAY.

Real Estate

Signs point to lower apartment prices

la prensa

Deals may be had on high-end apartments, but developers aren't saying so publicly.

There are signs that real estate prices in Panama are starting to decrease in some areas, but finding a deal may take some legwork.

"I would not say that prices have fallen, but there has been a decrease in the amount of customers," said Wilson Ruiz, vice president of the Panamanian Association of Brokers and Real Estate Developers.

The fall in demand has prompted deals to be made, but Wilson said that in many cases, developers have offered other perks, such as cruises, instead of lowering the price.

The Chamber of Commerce, Industries and Agriculture of Panama reported that the price per square meter in two of Panama City's most expensive areas, Avenida Balboa and San Francisco, dropped 20 percent and 15 percent respectively from 2008 to 2009.

Chamber official Manuel Ferreira said the information is based on data provided by real estate companies.

"The developers are willing to negotiate with clients depending on the size of the purchase, financing, and if the buyer has other strengths," Ferreira said.

La Prensa consulted the promoters of 12 building projects, whose residences are priced from $120,000 to $300,000, and found that only one has openly dropped its price, while four others said the price was open to negotiation.

Pine Hills in Albrook was selling units in April for $295,800, while the current price is $275,800. According to Procasa, the developer, the price drop was done to boost sales.

Apartments in the residential tower Quartier, in San Francisco, were being sold for $132,500, and the developer said that the lowest price it has accepted is $130,000 from a client who offered to put a 50 percent downpayment on the unit.

"They have made price adjustments, but is not radical," said Raúl Machado, director of May House, a company that provides property valuations. "There's an oversupply, but it is in apartments of more than $200,000."

Osvaldo Lau, a real estate consultant, remarked that "the developers are willing to lower the price, but are not saying so publicly."

Deforestation and Reforestation in Panama

With the global warming pandemic on everyone's mind, it is no surprise that everyone is turning to the worlds primary rainforest for help or answers.  With the recent release of the Planet Earth movie by the BBC  and the  Home Project Movie by Yann Arthus - Bertrand which you can watch free on youtube or visit their website http://www.home-2009.com
and with many website popping up around the world increasing awareness to our current global environmental crisis such as http://www.goodplanet.org/en/ no wonder everyone is becoming increasingly concerned with our all so sensitive mother earth.  Obviously the Amazon Region is what some call the "lung" of Planet Earth and with its ever increasing deforestation due to increasing developments no wonder so many concerned citizens and scientist alike are turning to other primary rainforests like Costa Rica or Panama.  CNN recently carried an interesting story in one of their fabulous Planet in Peril's edition on the Rainforest Clash in Panama which covers some of the problems we are all experiencing today in underdeveloped countries which are gifted with having such wonderful and diverse primary rainforest.  though the U.N. Food and Agriculture organization states that the rural workers migration toward cities may alleviate the amount of deforestation, it is still an increasing problem and concern for many. The U.N. also states that

"At least 25 percent of the area is being deforested, putting the rich biodiversity in jeopardy, the group said. Across the region, the United Nations says tropical rainforest land is still being lost at an alarming pace.

More than 7 million hectares of forests were destroyed globally each year between 2000 and 2005, the U.N."

With so much deforestation going on around the world and in pristine rainforest areas such as Panama what can one do?  In Panama, the government created a reforestation visa Law 24 of November 23rd, 1992, created incentives for reforestation activities in The Republic of Panama.  This created a huge interest among investors and retirees wishing to come live in Panama and obtain a visa in Panama.  We came across United Nature whom can provide residency in panama for a mere investment in reforestation of only $80,000 us dollars.  We have found that companies as these and incentives of this nature are creating an interest in private investors and companies to take an active role in reforestation projects.  With so many acres of land being wiped out for either cattle ranching, agriculture or real estate developments our primary forests which take years to reach maturity are wiped out in days!

It is time for each and everyone one of us to become aware that the global warming problem is NOW and that is happening at this very second and rapidly and we all must do something about it! We strongly believe that many citizens in the world know and are aware of what is happening to our earth but not many know what to do about it and continue to consume products packaged in plastic, buying toys and producs made of non biodegradeable and harmful to our earth.  It is time that each and every one of us take pride and concern for our environment and plant a tree or take some of our hard earned cash and instead of buying the latest suit or watch, invest it into our environment by purchasing a small parcel of land and reforesting it!  That is one way to be GREEN!

Santa Clara Residences Announces the Launch of their Website www.santaclarapty.com

Santa Clara Residences' management team is proud to announce the launching of its new website created by local panama web designers adestudio. The new Santa Clara Residence website truly captures the essence of this panama beachfront condo project. The natural beauty that surrounds Santa Clara is prominent on the website which includes sunsets, farallon island, seagulls and the ever so popular white sand and palm tree lined beaches.

Santa Clara Residences which is a Panama beach-front condominium project, is owned by local businessmen: Mr. Peter Vallarino (AIRCO), Mr. Rogelio Aleman (CUSA), Mr. Marco Schrem (MSG Properties) and Mr. Lucas Zarak, who is in charge of the administration and development of the Project.

The Location of the Santa Clara Residences is just 120 km (74 KM from Panama City) which is only 1 hour and 20 minute drive through the interamerican highway. Santa Clara Beach Residences will feature two luxurious towers of 23 floors each, both strategically positioned to allow for stunning pacific ocean views from all areas of the project.

The apartments at Santa Clara Residences are designed so that you can fully enjoy the breathtaking terraces in every apartment, most of which will include a private jacuzzi. The apartments will feature a floor to ceiling of 2.95 mts. which allows its residents to enjoy panoramic views of the Farallon Island and the beautiful blue Pacific Ocean.

The floor plans at Santa Clara Residences will include 94 mt2 1 bedroom + studio complete with 2 bathrooms and open kitchen, a 159 mt2 2 bedroom 2 bath layout with open kitchen and jacuzzi in the terrace, and 191 mt 2 4 bedroom 3 bath layout with jacuzzi in the terrace. There are also Jr Penthouses 208 sq meters that are 3 bedrooms 3 bath complete with jacuzzi in large terrace and also Jr Penthouses 244 sq meters that are 4 bedrooms 3 bth also with jacuzzi on large terrace.

Santa Clara Residences continues to show great demand in the Panama Real Estate market place with many local panamanians buying in this highly acclaimed panama beachfront condo project. For sales information contact panamarealtor@gmail.com at www.selectpanamarealestate.com or call us in the US at (305) 420.6840 or in Panama at (507) 302.7444

Agricultural Land in Panama "Rich in Demand"

With the costs of petroleum going down, the price of cement, steel and other construction materials tanking, the only commodities that have experienced in increase in price is food and gold.  The increase in food prices and the increase in agricultural incentives in panama has seen a recent upsurge in demand for agricultural land in Panama.  With many rich farmland throughout panama such as is the case in the cocle province just 1 hour away from panama city, the demand for land from locals as well as foreigners continue to rise.

In areas close to Penonome towards the hills in areas such as Tambo there is vast amounts of land being used for orange plantations, with over 1200 hectares of valencia oranges planted in this area.  There is also a new orange processing plant for "Panama's Best" orange juice and in the months of January we should see the plant very busy due to harvest season.  This areas rich and fertile soil is also very popular for the plantation of other products such as pepper plantations, vanilla plantations, coffee, bananas, and hardwood trees such as teak, mahogany and oak.

We spoke to panama real estate experts at panama-experts.com and they told us that recently they have seen an increase in demand for farms that have teak already planted due to the tax incentives that panama provides for teak investments and/or farmland.  Cattle raising is also very popular in these areas with land parcels with great forage planted on them and a plentiful amount of water from numerous rivers and brooks throught these areas.  There are other areas in this province that are also very popular for farming and rural residential developments projects such as is the case in la pintada and Miraflores where there is a rural residential project with larger than acre lots with a "hobby farm" feel and the Palmar river running through the back.  These areas represent great retirement opportunities since land can be purchased as low as $4.00/meter for parcels with infrastructure such as access, electricity, water and even internet. 

Santa Clara Beach Residences Hosts Cocktail Reception

On Wednesday December 10th Santa Clara Residences hosted a cocktail reception at their offices in Obarrio diagonal to the Trump Ocean Club sales offices. At the elegant cocktail reception you were greeted by the sales manager Lucas Zarak and other members of the development team including Rogelio Aleman, Peter Vallarino and others. Many existing clients that have already purchased at the Santa Clara Residences attended the reception.

The reception also attracted some local brokers including members of Templar, Select Panama Real Estate and even Fortune Realty of Miami. The turn out was quite good and the atmosphere was very friendly. It seems that the majority of the buyers of the project are predominantly local Panamanians though many US and Canadian clients have expressed interest in buying a condo at the Santa Clara Beach Residences as well as Europeans.

Santa Clara beach residences will be located in the beautiful Santa Clara Beach, right in front of Farallon Island. Neighboring the famous Playa Blanca home to the Decameron, soon to open Nikki Beach Club Residences, and future home of the Hard Rock Hotel Panama. The location promises to a quiet and relaxing getaway just 1 hour 20 minutes from Panama city but close enough to nightlife, restaurants, casinos and some local grocery stores as is the case with the Rey Supermarket in Coronado.

The project consists of 2 towers "Amanecer & Atardecer" which translate to Sunrise and Sunset towers and the typical units will be:

* 1 Bed, 93.50m2 (includes 25m2 terrace)
* 2 Bed, 158.50m2 (includes 30m2 terrace)-Corner unit
* 3 Bed, 191m2 (includes 35m2 terrace)-Corner uni

Additional units also available are:

* 115.50m2 (1 Bed + Studio),
* 123.50m2 (1 Bed + Studio),
* 185.50m2 (2 Bed + Studio)
* Junior penthouses of 208m2 and 244m2
* Penthouses of 392m2, 411m2, 459m2

The project will have all the modern amenities you would normally find in a city project including gym/spa, infinity pool, underground parking, kids park and a piano bar which promises to be its main attraction. If you are interested in obtaining more information on the Santa Clara Beach Residences contact Select Panama Real Estate in Panama at (507) 302.7444 or e-mail them for a brochure at selectpanama@gmail.com

One Candidate in Panama seems to be Gaining Ground

Only one Candidate Mr. Ricardo Martinelli of the Cambio Democratic (democratic change) party seems to be gaining ground while the others Balbina Herrera, Juan Carlos Varela and Guillermo Endara seem to be loosing impulse. In an article today in the Panorama section of La Prensa based on recent surveys by Unimer it states that Ricardo Martinelli has gained up to a 60% strength in impulse from recent campaign efforts, whereas Balbina Herrera has a 50% impulse, Juan Carlos Varela a 45% and Guillermo Endara a 35%.

68% of the interviewed said that for them it is very important in selecting a presidential candidate for whom they will support in the 2009 panama elections. On May 3 2009 the panamanian people will be able to vote for their presidential hopefuls to lead their country from September 2009 til 2014 a five year term.

for more information visit la prensa in the panorama section page 10A.

Panama Next Hotspot by CNBC

This recent press release by CNBC is labling panama as the next hotspot. Enjoying a healthy economy panama will be the site of not only an expanded Panama Canal but also home to a Hard Rock Hotel Panama, Marriott, Radisson, and Le Méridien as well as Donald Trump, whose 65-story Trump Ocean Club is slated to open in 2010

read the whole article at:

Next: Hotspot

Panama’s 
shopping forecast

Panama’s image and fortunes are bound to the canal that slices through it, a 80km feat of partly French, largely US engineering linking the Atlantic and Pacific, lucratively facilitating 5% of the world’s trade. For 75 years, the canal and a 15km buffer zone were administered by the US as recompense for their efforts. Since regaining control in 1999, this southernmost Central American republic, with a population of 3.3 million, has undergone an energetic transformation. Panama Canal, once at risk of being bypassed by the new generation of super-sized container ships, is undergoing a €4.6bn expansion, and the confidence inspired by the project has been a catalyst for development across all key sectors. 


After announcing the expansion in 2006, GDP growth rose to 11.2%, outstripping China, and making Panama not only the fastest-growing Latin American economy, but, according to the IMF, one of the fastest-growing in the world. Now that growth has proven to be sustainable, Panama is firmly on the radar of European investors.


Expansion, allowing for double the current capacity, is expected to bring in an additional €10bn or so in direct revenue during the first 11 years following completion in 2014. “It’s estimated that even during construction the canal project is adding an additional 1% to GDP annually, benefitting a wide range of areas,” adds Judith Gold of IMF.


It’s also a boost to related industries – multimodal logistics, exports, free zones (the Colón Free Zone is already the second largest in the world) and ports (Hong Kong’s Hutchison Whampoa intends Balboa to be the largest in Latin America by 2010), and two new passenger terminals have been opened to accommodate a vast and growing luxury cruise and mega-yacht industry. 


Panama City, home to the largest concentration of international banks in Latin America, continues to grow in importance as a financial hub. “The financial centre has quickly responded to new opportunities.” says Carl-Fredrik Nordström of the Autoridad de Turismo Panamá. “Currently the Panamanian banking sector has US$14bn [€11.2bn] in market liquidity and has attracted significant new investment.” This trend will continue if the planned integrated Central American Stock Exchange resolves regulatory issues and begins operating next year.


The stock exchange idea is modeled on the integrated Scandinavian model and has been funded by the Inter-American Development Bank. Designed to increase trading volume and lure foreign investors and companies, it will offer a single trading platform for Panama, Costa Rica and El Salvador, according to the chairman of Panama’s stock exchange Ricardo Arango.


Political and fiscal stability and the mood of confidence has triggered a construction frenzy, mainly luxury tower blocks in and along the coast around the capital catering to an upwardly mobile local market as well as an influx of North American buyers. Hotel development is rampant after steady growth of 12.5% a year in tourism shot up to 30% in 2007, the biggest spike in visitor numbers in the Western hemisphere. And it’s not over. The World Travel and Tourism Council predicts revenue from tourism will double by 2018, hence the need for a further 8,000 rooms, 1,800 of which will be added in 2009–10. 


“Panama is emerging as one of the world’s hottest destinations for the jet-set crowd,” says Gary Sims of Nikki Beach Hotels, which has two projects underway. Marriott, Radisson, Hard Rock and Le Méridien have invested, as has Donald Trump, whose 65-story Trump Ocean Club opens in 2010. Prices are high and competition fierce for investment opportunities in Casco Viejo, the Havana-like colonial quarter of Panama City recently featured in the latest Bond installment, Quantum of Solace, and undergoing extensive restoration. 


The appeal of easily-accessible Panama to the US market is obvious. But, say analysts, an influx of tourism and foreign investment from Europe, Spain, Russia, and Turkey has fuelled this year’s growth. 


“Our global advertising and public relations campaign has helped spur on this growth” says Nordström. “This campaign, with increased effort towards the European market, was initiated last January, and looked to present Panama to Europeans really for the first time.”


European investors are now behind some of the top projects. The UK’s London & Regional Properties sealed one of the biggest development deals ever, acquiring the 1,112ha Howard Air Force Base with a plan to transform it into a €8bn business district the size of the City of London complete with retail and hotel facilities and 20,000 homes. 


“The current economic crisis may slow down the pace of growth but long-term projections remain highly positive,” adds Nordström. 


With controlled inflation, control of a vital shipping route and a service-based economy, Panama looks set to be largely immune to the vicissitudes of the global economy. Says IMF’s Gold: “It’s hard to forecast in the current climate, but the Economic Intelligence Unit predicts GDP growth of 9%–10% for Panama next year. So far, Panama hasn’t had the banking crises other countries have had; so far, so good."

Projects in Panama Laugh at Construction Norms

Seven projects in panama have been cited for not following the rules of construction and are making changes in the projects without previous permission. Those projects include Versalles I & II by Grupo Vivienda, Villad De Andalucia - Brupo Provivienda, Planta de Asfalto (Cement Plant), Metrol Mall and Plaza Valencia.

The fact that the ANAM (Environtmental Impact Authority) has insufficient personel to control these developers from breaking the rules was cited as the main problem. This article was published in Nov. 17th of La Prensa, you can access it on this Link, or read it in spanish below:

Siete obras están bajo la lupa por violación de leyes

Las entidades correspondientes reconocen que no tienen personal suficiente para las inspecciones.
LA PRENSA/Carlos Lemos
RELLENO. Este es el tubo que dejó la Inmobiliaria San Fernando para que pase la quebrada de Ciudad Radial. Cuando llueve, el agua no puede correr de forma natural, se estanca y retorna a la barriada. 1119277
Canalización. Quebrada en la Rotonda de Villa Zaíta.
Shelmar Vásquez Sween
svasquez@prensa.com

Siete obras que se construyen entre las áreas de San Miguelito y la Vía Tocumen han burlado las normas de estudio hidrológico y de mitigación de impacto ambiental, debido a la falta de inspección de las autoridades.

Estas violaciones han alterado el curso de quebradas, ríos y sistemas de aguas pluviales que circulaban en estas áreas desde hace más de 40 años sin amenazar a las urbanizaciones a su alrededor.

Ahora la historia es otra. Los residentes de estas mismas comunidades viven con la zozobra de que en un abrir y cerrar de ojos puedan perder nuevamente sus bienes, incluso sus vidas, por el desbordamiento de estas corrientes de agua.

Rudy Nieto es morador de la barriada Ciudad Radial, que colinda con el proyecto de relleno que realiza la inmobiliaria San Fernando para construir un futuro centro comercial.

Bajo la amenaza de tirarse a la calle, Nieto y sus vecinos hicieron que las autoridades fueran a inspeccionar “el desastre” provocado por la promotora, y que hizo que sus casas quedaran bajo el agua hace unas semanas.

Detalló que los canales por donde corría la quebrada de la Radial, que pasaba por debajo del Corredor Sur hasta desembocar en un manglar, fueron obstruidos por la inmobiliaria, que construyó otra ruta para el paso del líquido.

El agua, ahora, para llegar al manglar tiene que pasar por una especie de embudo, que la constructora colocó a la orilla del Corredor Sur.

Es mucha agua para tan pequeña cavidad, según Nieto, por eso el agua se queda estancada, y cuando llueve el nivel sube en cuestión de minutos. Esto sin contar que los otros tubos que han colocado para guiar las corrientes hasta ese punto, están sucios, llenos de residuos de cemento, paja y demás basura.

“La inmobiliaria no ha hecho nada por arreglar este problema y mientras tanto nosotros tenemos que correr a subir muebles a las camas y mesas cuando cae cualquier aguacero”, indicó.

Casos similares

Salermo Aizpurúa, vocero de las comunidades de Altos de Plaza Tocumen, Las Acacias, Villas de Don Bosco y Villa Las Acacias ve con terror la forma como la Promotora Provivienda ha levantado tres obras cercanas a ellos: Villas de Andalucía y Versalles I y II.

Aquí la historia de Ciudad Radial se repite, pero con las aguas pluviales, que también pasaban por debajo del Corredor Sur y, ahora, no pueden hacerlo de forma fluida debido a la canalización inapropiada que ha realizado la constructora.

“Con un aguacero fuerte de 30 minutos, el agua queda a nivel del canal que la promotora hizo para que circulara. Entonces tenemos que esperar a que se desborde para que las autoridades hagan que se corrijan los malos trabajos que son visibles a los ojos de cualquiera”.

En tanto Maribel Royer, de la urbanización Rotonda de Villa Zaíta, ha liderado –en conjunto con sus vecinos y los de la comunidad de Villa Milagros– una lucha contra la constructora Casas de Panamá, que levanta detrás de sus residencias el proyecto Plaza Valencia.

Manifestó que han canalizado, con un tubo de 42 pulgadas, una quebrada que tiene más de 40 años de acompañarlos y en donde la gente se bañaba.

En estos momentos la quebrada se desborda cada vez que llueve, y tienen que ver “con tristeza” cómo un caudal cristalino se ha convertido en un lodazal.

“Las autoridades vienen, les dicen a los responsables del proyecto, frente a nosotros, lo que están haciendo mal y deben corregir. Pero pasa el tiempo, no hacen nada y nosotros seguimos con el problema, que ya va para un año”, se quejó la señora.

Royer agregó que otra prueba de que la promotora citada “hace lo que quiere, sin que nadie le ponga un alto” es que ha tomado unos 15 metros de servidumbre, para extender el relleno sobre el que construirá casas, llevándose por delante varios árboles frutales.

A todos estos proyectos, que ya están siendo investigados por la Autoridad del Ambiente (Anam) y el Ministerio de Obras Públicas, se suma el Proyecto Metro Mall de Grupo Roble, responsable de las inundaciones de Villas de San Antonio, y la planta de asfalto de Constructora Urbana, S.A. señalada por la Anam de atentar contra el medio ambiente.

En un recorrido que hizo este diario por los proyectos, se intentó obtener la reacción de los ingenieros responsables de las obras, y ninguno quiso emitir pronunciamiento alguno.

¿QUIÉN LOS FISCALIZA?
MODIFICACIÓN. Encauce de aguas pluviales que realizó la Inmobiliaria Provivienda en Don Bosco.
MANTENIMIENTO. La Anam ordenó limpiar los desagües a la empresa San Fernando.

El jefe de ingeniería municipal de San Miguelito, Eric Zapata, informó que antes de que ellos o el municipio capitalino otorguen un permiso de construcción a alguna promotora, esta debe presentar el plano aprobado por varias entidades estatales. Entre ellas: el Ministerio de Obras Públicas (MOP), Ministerio de Vivienda, Ministerio de Salud, Autoridad Nacional del Ambiente, Autoridad de Tránsito y Transporte Terrestre.

“Todos ellos dan fe de que el proyecto que se va a construir cumple con las normas establecidas”. Pero la realidad es que muchas promotoras empiezan obras evadiendo algunos de estos permisos o no se ajustan a lo que se les aprobó en los planos”.

Zapata admitió que hay que hacer inspecciones regulares, pero que no cuentan con el personal ni el equipo especializado para cubrir todos los proyectos.

Por su parte Jaime Salas, del Municipio capitalino, opinó que todas las entidades que dan su sello de aprobación deben inspeccionar los proyectos, y cuando encuentran una irregularidad, referirse al municipio correspondiente para proceder con la suspensión de la obra o las sanciones previstas.

El subdirector nacional de inspección del MOP, Camal Singh, dijo que los responsables de los proyectos mencionados han recibido órdenes de corregir las irregularidades encontradas en sus obras, y afirmó que estarán fiscalizándolos.

Además, apuntó que muchas de las fallas citadas se han generado por el dudoso estudio hidráulico que estas empresas realizan sobre el terreno que van a trabajar. “Quien diseña el proyecto tiene que prever situaciones que se pueden dar en el lugar. Nosotros tampoco contamos con suficiente personal para cubrir todo el país”, indicó.

Por su parte, Zapata reiteró que la aprobación de un plano no libera a los dueños del proyecto de la responsabilidad de cubrir cualquier falta en la que incurran.

Barack Obama Elected President of the US

Senator Barack Obama was elected the forty fourth president of the Unitedd states winning over John McCain in what seemed to be a landslide victory. With over 340 electoral votes Barack Obama won with over 3Million votes and with a narrow margin of popular votes. In a speech at grant park in Chicago the new president elect gave a glorious speech. The first Africa American to be elected president of the United States of America!

People gathered outside the white house, celebrated in Kenya, in time square and what seemed to be an incredible amount of excitement around the world. Obama walked out into Grant Park with his wife and two daughters to be received by hundreds of thousands of followers. John McCain gave a speech from the Biltmore hotel in Phoenix Arizona congratulating Senator Obama on his victory! Obama began his speech with "Is there anyone out there who still believes that something is not possible?" "Change has come to America" he recieved calls from Senator McCain and from President George Bush inviting him to the White house with his family so he can experience what life as a president holds for him.

With Oprah Winfrey in the public and Reverend Jesse Jackson, the 44th president of the United States gave an inspiring speech. We in Panama wish the new president elect Barack Obama the best and give him all the strength to take the US forward in what will be a long and arduous road.

Coastal villages face land grab

In the Miami Herald Section of La Prensa today it was published how coastal villages face land grab and how squatters are being asked to pack up and move on. Below the story as published in la Prensa.


Panama’s thriving real estate industry threatens long-term residents of coveted coastal regions.

Inhabitants of two beachfront villages allege that they were forcefully evicted by police.

maydée romero/la prensa

On Oct. 10, a court returned a land title to a Colón resident whose property was gifted to a developer by the Office of Land Registry at the Ministry of Economy and Finance

A wave of evictions has hit coastal communities across the country, picking up and scattering, in some cases, entire villages to make way for the flood of real estate and tourism developments.

The voices of distress rise up from both the Atlantic and Pacific coasts, where inhabitants and even some local authorities claim that developers are ignoring the possessory rights of long-established residents, according to attorney Guillermo Márquez Amado.

In the middle of the controversy is the National Program for Land Administration that is looking to carry out a widespread campaign to assign land titles.

Some of the displaced communities are getting organized to protest the initiative, which they say has backed them into a corner, with their lands being ceded to powerful companies on one side, and the cost of obtaining a land entitlement far from their reach on the other.

Donatilo Jiménez still wonders how the Office of Land Registry at the Ministry of Economy and Finance thought it could grant land in Cocuye, in the Santa Isabel region of the Colón province, that had belonged to his family for three generations to a developer.

Thanks to Jiménez’s perseverance, however, he was able to fight the government’s decision and reclaim his land as of Oct. 10 in a court ruling supported by the land administration program’s consultative council.

Though Jiménez was pleased by the outcome, he remains concerned about his ancestral land, which is coveted by several developers of tourism projects.

“We’re not opposed to [the projects], but if they think they claim not to know that we have a right to the land, we’re going to defend it,” he added.

“What happened to Donatilo can happen to any of us,” said Alfredo Reid, a resident of Santa Isabel.

While the Santa Isabel community is breathing a little easier for the moment, several indigenous communities in the archipelago of Bocas del Toro are on tenterhooks about their lands, after some 17 policemen allegedly showed up in the village of Cayo de Agua and tore down the homes of nearly 100 families, said Félix Sánchez, a resident of the area.

Six days later, the same savagery occurred in the coastal town of Playa El Toro and La Garita, in the Pedasí area of the Los Santos province. That day, a group of fishermen were preparing for their morning activities when heavy machinery arrived to demolish their houses, reported to Amada Caballero.

According to Caballero, the order was given by the land’s supposed owner, ignoring the fact that the land has been occupied by the current residents for more than 40 years.

Rebeca Díaz may not have been one of those evicted from their beachfront property in nearby Pocrí, but three years ago the land administration program assessed their 133 square meter lot for a fee of $165, before informing her that she would then owe $400 per square meter, a sum required to obtain a so-called “administrative title.”

César Carrasquilla, chairman of the program’s advisory council confirmed that his office has received several reports similar to Díaz’ case.

La Prensa’s attempts to contact Vice Minister of Economy and Finances Gisela Alvarez de Porras, and the land program’s technical coordinator, Rolando Armuelles, were unsuccessful.

For Panama Real Estate visit: http://selectpanamarealestate.com