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In the News from Panama

New Law Will Protect Panama City Wetlands

More than 200,000 hectares of wetlands around Panama City will be preserved under terms of a new law that went into effect last week. Construction is banned in the marshes and it is illegal to disturb the vegetation.

You don’t have to be an environmentalist to hail this as good news for Panama City – and the real estate market. The capital’s natural beauty is one of its primary attractions and any measure that protects the landscape will provide a long term benefit for everyone. And it will generate a premium for choice locations that take full advantage of that beauty, such as Punta Pacifica.

The muddy mangroves create an important ecological sanctuary for a wide variety of wildlife, including more than 1 million North American shorebirds that migrate each year to the Bay of Panama. The waters are also part of a delicate eco-system that feeds the surrounding area.

Panama often gets a bad rap for its environmental protection, but that’s changing. The recent opening of the Frank Gehry-designed biodiversity museum and these types of environmental initiatives are a sure sign that the government sees eco-friendly projects as good business.

 

Duncan McGowan is president of Punta Pacifica Realty, a Panama real estate agency focused on Punta Pacifica, the exclusive neighborhood of 18 towers perched on the edge of the Pacific Ocean.

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