In the News from Panama

Big Update on New Amador Cruise Port

The Panama government has officially put out a tender to find an operator for the new cruise ship terminal on the Amador Causeway, as work continues to move forward on the project.

This is another sign that the cruise port is about to become a reality and provide a big boost to the property market on Amador Causeway. As the representative of Naos Harbour Island, the beautiful waterfront development on Amador (where I live). The cruise port will help put Amador on the map and support more restaurants and shops and the luxury lifestyle on Amador.

The really big news from the recent announcement is that the cruise port is scheduled to open by the end of the year. Jorge Barakat Pitty, minister of maritime affairs and administrator of the Panama Maritime Authority, told Seatrade Cruise News he hopes that an operator will be selected to begin work by October, “with the first cruise ships expected on transit calls before year’s end.”

The tender is for a company to cover the operation and maintenance for the facility and is expected to be posted in the office government publication by the end of the month. Earlier this year, Barakat told the publication “more than 50 berthing requests have been received, most by Caribbean operators in conjunction with Panama Canal transits.”

That type of activity will make Amador a hub of tourist activity, exposing the beauty of the Causeway to people from all over North America. Work is also continuing on the largest convention center in Panama City and the Causeway is already benefiting from millions of dollars in government investment.

The cruise facility will be large enough to handle two ships of up to 380 meters (1,247 feet) at the same time, the publication says. While ships may start using the facility by the end of the year, the goal is for the $166 million first phase to complete in 2020 and ships to start using the facility as a home port for ships in 2021, “and a number of proposed itineraries have been developed to that end.”

In the industry, “home port” is an important designation, ensuring that travelers fly into Panama and likely stay for a few days before or after to explore. As a home port, Amador will attract visitors and cruise ship employees who want to stay for a while. We expect this to have a direct and very positive effect on the term rental occupancy for our Naos Harbour Island owners, many of whom are already taking advantage of the rental program. Naos’s incredible location directly on the Panama Canal and its proximity to both the cruise terminal and convention center makes it well positioned to benefit from the new developments.

The proposed routes include a 14-day South Pacific itinerary which is part of a recent deal between Panama and Chile to promote cruising, the publication reports.

Brian Kelly is PPR’s property manager for Naos Harbour Island.

Photo: Mallol Arquitectos Site.