News

More than 100 investors and prospective buyers registered their interest in apartments in the Naos Harbour Island development during the recent ACOBIR Expo, one of the biggest annual real estate events in Panama City.

Naos is uniquely positioned to take advantage of the surge in activity on Amador Causeway, which is the midst of a $400 million government upgrade. From the expansion of the Frank Gehry-designed Biomuseo to a much-anticipated cruise ship home port, Amador has been making headlines in recent months.

In the picture left to right: Project Manager Brian Kelly, Inside Sales Representative Sabrina Blanco and Rental and Sales Specialist Luis Rivas.

“We had a much larger interest in Naos from the previous year at ACOBIR,” said Brian Kelly, PPR’s project manager for Naos Harbour Island. “People knew all about the Amador projects going on, especially the road construction that is going to finish up in a few weeks.”

ACOBIR is open to the public, but attracts investors from around the world, reflecting the growing interest in Panama. This year’s event included buyers from North America, China and India.

This was the second year PPR had a booth at the event, promoting Naos with a bilingual sales team. The first phase of Naos has been completed and people are living in the project, which offers 122 apartments in three towers with expansive views of the Pacific Ocean and entrance to the Panama Canal.

The location offers the quiet and beauty of island living, but it is only a 20-minute drive from all the amenities of downtown Panama City and Casco Viejo. The first two towers in Naos have been completed and people are living in the apartments; work is progressing on the third tower, with construction scheduled to start next year on a marina villa and 270-slip marina.

“Investors see the potential in Amador,” Kelly said. “There was tremendous interest in units that could be used part time, as well as rented short term, an option not available in the rest of Panama City.” There is a limited inventory of fully-titled apartments available in the project and prices are set to rise, Kelly says. Buyers at ACOBIR were particularly focused on 2- and 3-bedroom apartments, which offer flexibility and an attractive rental option. Advertised prices start at $270,000.

Many of the buyers were exploring the beauty of Amador for the first time. But even veterans of the property market were surprised by the pace of changes on the stretch of four islands, which is developing as a favorite recreational area for the city.

“When the new road finishes people will realize how easy it is to get in and out of the area, and they love the idea of still being inside the city, but far away from the noise and congestion,” Kelly said.

PPR is working with Naos Harbour Island Residences & Marina, the unique waterfront development on Amador, which will include a 270-slip marina. The first phase of 122 units has been completed and the best deals are going fast on the remaining units. Contact us or call us at + (507) 836-5991 for more information on the latest special pricing.