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In the News from Panama

Naos Event Draws Amador Property Investors

Punta Pacifica Realty hosted an invitation-only event for investors and select clients last weekend at Naos Harbour Island Residences and Marina, the waterfront development on the fast-growing Amador Causeway.

About 40 people attended the event2 (9), which was a friendly barbecue and mixer for potential buyers, as well as existing residents. PPR executives and the developer were on hand to discuss progress on Naos and the state of the real estate market, as well as the latest developments on Amador.

“It was a great chance for our friends and investors clients to see the beauty of the property and meet the current residents,” says PPR’s Brian Kelly, project manager for Naos. “Investors had the opportunity to talk with buyers who are already benefitting from the development.”

Located about 10 minutes from downtown, Naos is poised to take full advantage of the more than $300 million the Panama government has committed to making Amador the city’s next recreational and tourist destination. The first of three phases has already been completed, including three, six-story buildings9 (1)  with 122 ocean-view apartments. Stages in development include commercial spaces, more luxury residences and a 270-slip marina.

The PPR event was well-timed. In recent months, work has been continuing on the new Amador Convention Center, hike and bike trails and a reworking of the main road, which will be officially opened this weekend.

Interest in Amador property is also increasing, with investors spotting the Causeway as a chance to catch the next Panama City property boom.

“Prices are rising and the inventory of available units is dropping,” Kelly says. “Many of the best apartments are already sold.”

The party was hosted in PPR’s o10 (2)wn pool-side apartment. Attendees toured existing apartments and were shown the site of the marina planned for the property.

“Adults and kids alike had a great time,” Kelly says. “It was a fun day and a great chance for us to show off all the attributes of this beautiful development.”

 

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