Panama Real Estate Blog

Panama seen as human trafficking depot

The US State Department of Trafficking of Persons has called on Panama to do more in eradicating and combating human trafficking, despite the fact that Panama has already imposed significant legislation in fighting these tragic events and occurrences. The main areas of the problem seemed to be on the borders of Costa Rica and Colombia, where human traffickers can cross undetected. The main victims of this human trafficking are said to be woman and children, who are trafficked for the purpose of sexual exploitation.

The victims of such human trafficking, are of both domestic and international origin, and include children, from indigenous populations that are forced into prostitution in the Darien province, by their parents, with international victims including adult woman from Columbia,  Dominican Republic and surrounding Latin American countries. It is claimed that some of them come voluntarily, but all later forced into prostitution. Panama used to have what was known as the alternadora visa, which allowed foreign woman to enter the country and work as companions or prostitutes, however the Martin Torrijos administration eliminated this type of visa and significantly changed the Penal Code to impose greater punishment upon human trafficking individuals that were caught.

Unfortunately issues such as the global economic crisis, as well as the promise of a better life contribute to the issue of human trafficking, and many individuals fall for false promises made by the people involved in this human trafficking. This issue remains an ongoing fight for countries across the world.

National police to patrol Panama University

Necessary steps that have to be implemented at the University of Panama include the assistance of the national police to ensure student security and safety. This has come about due to an increase in theft and mugging, on the University’s campus. Unfortunately the students are seen as easy targets, with the criminals blending into the student life and taking advantage of solitary students. The presence of the national police is hoped to deter such criminal activity and occurrences.

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Paitilla Suburb, Panama City

One of the finest and most well developed suburbs in Panama City. The suburb of Paitilla has numerous and well developed infrastructure, whilst retaining the Panama charm and commitment to green areas and parks. The area is fully equipped with easy access to all types of stores, such as supermarkets, restaurants and convenience stores; whilst quick access to nearby clinics and hospitals ensure peace of mind.

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Contract for Canal to be announced soon

According to media reports, citing the ACP, the contract for the canal expansion may be awarded within this month. The main contract, over and above a variety of additional smaller contracts, is for the expansion of the canal so that the post Panamax ships may utilize the canal too, significantly increasing the traffic as well as the potential income of the canal.

Alberto Aleman, chief executive of the ACP furthermore downplayed reports that the $5.25 billion project might be put on hold, due to current global economic conditions. The three groups have applied for the contract include Bechtel Group Inc , in alliance with Taisei Corporation and Mitsubishi Corporation; Spain’s Grupo ACS and Sacyr Valle Hermoso SA and Italy’s Impregilo SpA.

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The ‘King of Pop’ has died. The singer Michael Jackson, 50 year old, suffered a cardiac arrest on Thursday in Los Angeles (USA). The coroner in the city, Fred Corral, confirmed the death of the legendary singer.

According to Los Angeles Times, the paramedics came to the house and confirmed that the star is not breathing. After being subjected to cardiopulmonary resuscitation, was taken to hospital at the University of California at Los Angeles (UCLA). He came to school in deep coma.

After the arrival of the star at the clinic, there was an “absolute chaos”, according to the website specializes in information about famous TMZ. “You have to save, you have to save him,” shouted the singer’s guests.

“He was unconscious when he was admitted and shortly after his death was confirmed,” Corral said the television network CNN. The manager of the medical-legal institute in Los Angeles said that the cause of death was unknown and that the autopsy will probably be held this Friday.

His relatives, including his brothers Jermaine, and La Toya, went to the hospital, according to CNN. TMZ collects images in their web as enter La Toya crying in the middle. Many fans also gathered outside the medical center, next to the media.

Fact-finding
The police department of Los Angeles has opened an investigation to clarify the circumstances in which there was the sudden death of the singer. Jackson officially died at 14:30 local time in California

As confirmed by Lt. Greg Stranka, who clarified that at 13 hours the artist was taken to hospital by a team of paramedics from his rented accommodation in the luxurious neighborhood of Bel Air’s display.

“At 16 hours the department of robberies and murders of police of Los Angeles was commissioned to handle the case,” said Stranka. The detective wanted to diminish the significance is the fact that the homicide unit that has gone to the house of the singer to start the investigation.

The official asked not to press ahead or events would assume that the police suspected that a crime had occurred. Neither wanted to make statements about how the body was found or whether there were elements that would suspect of a crime or a suicide by drugs.

The hypothesis of an overdose of pills, shuffled as a possible cause of the death of Jackson, especially after the counsel of family and personal friend of the artist, Brian Oxman, said he was concerned about the medicines consumed the ‘King of pop ‘.

Oxman suggested that Jackson has been surrounded by people who will ultimately have a negative impact, to ensure that Jackson’s family tried desperately to “take care” of the singer and musician who was well until recently.

Imminent return

Jackson was about to launch a series of concerts in London which involved returning to the stage.

In recent years there had been rumors about the health of the singer, away from public life in 2005 jumped from the scandal over his alleged child abuse, but the organizers of the concerts in March said that Jackson had passed a medical examination of over of four hours. The singer had three children.

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Expo Inmobiliaria 2009

One of Panama’s most well-known exhibitions and events is that of the Expo Inmobiliaria 2009, which provides a suitable opportunity for the real estate businesses and investors both with in Panama as well as from external or international sources to congregate and establish value added business relationships and possible business opportunities.

The exhibition will have a whole section dedicated to international real estate companies, and according to the organizers no less than a 1000 potential customers from overseas will be represented at the exhibition. In addition to this total of 15,000 visitors are expected at the exhibition, which runs from July 22nd until July 26th at the ATLAPA Convention Center.

The exhibition is being organized by the Panamanian Association of Real Estate Brokers and Promoters (ACOBIR), in conjunction with International Property Networks (IPN) and the Latin American Real Estate Investment Group (LAREI Group), under the auspices and support of the Panamanian Ministry of Housing, who has a special interest on the subject of social housing.

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Panama Canal expansion - and archaeologist’s dream

The recent unearthing of a set of fossil teeth, from the print Panama Canal earthworks has been described as belonging to what is classified as Anchitherium clarencei, a three toed browsing horse. The discovery has been claimed as one of the most complete fossils of a horse, uncovered at the site in the last century. Furthermore this discovery confirms two previous similar findings in the region, with the evidence supporting the theory of Bruce J McFadden, that the region was primarily dense forest and open woodland, where these animals roamed between 15 and 18 million years ago.

But finding furthermore extends the habitat of this forest dwelling animal from where previous evidence was uncovered, in Florida, South Dakota and Nebraska much further south to Panama, as per the recent findings.

The expansion of the Panama Canal has facilitated the work of geologists and paleontologists, who work in the area after blasting in an attempt to salvage, collect and map any fossil findings. This process has enabled the scientists to address many uncertainties in terms of the species that roamed the area millions of years ago.

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CEO of Canal Authority receives top industry award

The CEO of the Panama Canal Authority, Mr. Alberto Zubieta, has received the 32nd Annual Silver Bell Award from the Seaman’s Church Institute. The award was bestowed upon and presented to Mr. Zubieta in an awards ceremony in New York City on the 11th June, in line with acknowledging an individual’s commitment and dedication towards the maritime industry and merchant mariners.

Zubieta was awarded the prestigious Silver Bell Award for specific contributions in managing the strategic waterway, the transition period during the handover of the Panama Canal, from the US to Panama, as well as his facilitation and vision in the implementation of the Panama Canal Expansion project and related infrastructural changes and maintenance.

The expansion project includes the addition of a new set of locks, to cater for the post panamax ships, otherwise known as the capsize ships, and in the process will effectively double the Canal capacity in addition to allowing the passage of the longer and wider ships. The project is scheduled for completion by 2014, with an estimated cost of $5,25 billion.

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Panama Real Estate

Panama real estate has experienced one of the greatest booms in real estate sales and developments in history, and no wonder as the economy, the climate and the setting lends itself to one of the most beautiful places in the world.

Both from an investment perspective, with regards to a second or retirement home, Panama real estate offers one the opportunity of diversifying your investment portfolio, within a secure and well established market, complete with legal framework specifically designed for the protection of foreign investment and foreign investment capital.

There are a number of specific areas where Panama real estate is easily accessible and obtainable, depending on your desired objective with regards to the actual real estate itself. If you are considering a more corporate targeted Panama real estate investment, then the Panama City locale would be a great place to seek investment. However if you are seeking a retirement home investment for yourself, then the Panama real estate opportunities that would be recommended would be those away from the hustle and bustle of the city life, such as the areas of Boquete, Bocas del Toro, and Coronado to name a few.

The infrastructure provided by the government has made Panama real estate as attractive and as valued as it is today, this is due to many reasons, as confirmed by the economic analysts who continually and consistently provide favorable ratings of the country. Factors that affect you as an investor in Panama real estate include the fact that the economy is a dollar based economy that functions primarily within the services sector. Although this may not mean much, but an example would be that the economy does not get as affected as other world economies, by issues such as financial slowdowns and recessions.

Panama real estate provides the option of choosing form a variety of settings from the Caribbean sea to the Pacific Ocean, or even the highlands in the province of Chiriqui; where the climate has been likened to that of the European summers. The highlands offer one the chance to get away from the coastal humidity, with a well set up and cared for infrastructure catering to the needs of all residents.

The future of Panama real estate lies in the positive steps of infrastructure development that the government and private institutions have taken, issues such as the Panama Canal expansion program, the construction of no less than two oil refineries and the development of large office, retail and residential developments in various centers provides an extremely positive outlook for both the infrastructure of Panama, as well as the value of Panama real estate.

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Boquete Real Estate Benefits

Boquete is located in Panama, and more specifically in the province of Chiriqui, and more correctly in the highlands of this province. This has a direct issue on considering Boquete real estate, which will be dealt with a little later on. Panama has experienced a real estate boom and many of the prices have increased, however a number of value added deals still remain in areas such as this.

Boquete real estate offers and holds a number of benefits over real estate located elsewhere in Panama. This ranges from the location and setting of the Boquete real estate to that of the infrastructure and the cost of living within this area and community.

The fact that Boquete real estate is situated in the highlands of Chiriqui is one of the main reasons why this area has become so popular. The area is slightly elevated and therefore one is not subject to the high humidity levels as found in or on the coastal plans of this tropical paradise. The climate has been described as similar to the Swiss Alps, with a gentle coolness, yet it has very temperate weather conditions that do not get too hot or too cold.

The infrastructure of the region is another factor that adds to the attraction and value of Boquete real estate. Many projects and initiatives have been undertaken and completed to establish this area as one of the best areas in Panama, in terms of amenities and infrastructural networks. This includes amenities such as clinics, pharmacies, shops and so forth. This has added to many people’s decisions of making the area their first choice in both retirement living and second home purchasing.

Boquete real estate is surrounded by beautiful scenery, as well as flower and coffee plantations. This area is ideal for the cultivation of coffee and flowers, which makes the setting idyllic and one might even say heavenly. Located not too far is the peak of the dormant volcano of Baru, which adds to the picturesque setting of this Boquete real estate.

Although there has been significant price progression in terms of the market place pertaining to real estate, Boquete lags behind areas such as Panama City, as it is essentially a different type of market catering to a different clientele. Boquete real estate offers one a calm, tranquil and relaxed environment away from the city life. Besides the lower pricing, another issue that has made Boquete real estate so popular with the residents and investors is the cost of living, which is substantially reduced if one compares it to that of the United States and comparable economies.

The country of Panama is stable in terms of both economy and politics, it has a large number of developments that are scheduled to begin, so therefore growth will continue and development is ensured. The currency is the United States dollar, and therefore areas and investments in Panama, such as Boquete real estate offer a truly value added opportunity for those seeking to retire there or invest in property available in this area.

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US style in Azuero

Bonnie Birker, who was a Peace Corps volunteer in Panama almost 40 years ago returned to Panama to operate their very own bed and breakfast in the beautiful seaside village of El Puerto. The village is only a few minutes away from where she served for two years in a real community development as a Peace Corps volunteer. Her Bed & Breakfast is a named after the village, Casa Del Puerto.

Bonnie, who originally hails from Iowa spent most of their working career in Washington DC, and was delighted to return to Panama after such a long absence, quoting that the locals clearly remembered her from her stint in Panama in the late 1960s. Bonnie’s work in Panama, back then included educating and helping housewives to obtain access to clean running water and nutrition. She was welcomed back by the community and is now fully integrated into the community.

The Bed & Breakfast is literally on the beach and provides a panoramic view of the ocean. The accommodations are well appointed and reasonably priced, complete with hammocks on the front porch, where one can relax and marvel at the beautiful scenery. The decor of the establishment is mostly centered on the traditional folklore of the people of the region, and includes a collection of diablico sucio masks, one of which is over 40 years old and which travelled back to the United States with Bonnie and then again back to Panama.

The area is well known for Pollera dress, which has been a tradition for more than 100 years within the region. El Puerto offers three restaurants all closely situated to Bonnie’s place, mostly offering the seafood delicacies that are so popular in the area. Bonnie’s intentions are to increase the size of the bed-and-breakfast from the current three rooms to contain seven rooms in total due to the overwhelming demand and popularity of Casa Del Puerto.

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