Panama Pacifico forges ahead

March 6, 2009

The Visitor/El Visitante

Work on the first four buildings of an International Business Park in the Panama Pacifico Special Economic Area (formerly Howard) on the west bank of the Panama Canal is well underway. This is just the first stop in a series of developments of the new master plan for the area including international standards for building. Among the four new areas currently under development, is the new International Business Park with two new buildings designed especially for companies’ handling light cargo. The new flex-office buildings are scheduled to be ready for occupation this year. The concept for the design, financing and development of the international area began when London & Regional Panama, S.A. were successful in winning the master development contract with the government of Panama in mid 2007.

International banker and entrepreneur Jaime Galinski and the UK firm of London and Regional Properties met during the two-and-a-half year selection process administered by the World Bank. The consortium was a contender against four other companies for the final selection of the master development contract for the area of the former Howard Air Force base.