In the News from Panama

Panama City on Track for Beaches by 2022

The announcement that Panama City is moving forward with plans to create new sandy beaches was easily one of the most exciting news items of the last year. Public beaches at the foot of downtown would transform the waterfront and help Panama City take its place among the great beachfront cities of the world.

This week Panama’s mayor José Luis Fábrega provided some tantalizing clues that the project is moving forward. At the current pace, the beach recovery project could be completed by 2022, he told reporters.

“We are working with Sanitation of the Bay, Miambiente [Ministry of Environment] and, believe me, that by 2022, in the rhythm that we are working on and with the urgency that the Government of President [Laurentino] Cortizo has given to sanitation, we are going to be close to having bathing beaches,” he said, according to coverage in Newsroom Panama.

This is great news for the city and even better news for the real estate market. The addition of a stretch of beach in the city would boost property values throughout downtown and add a wonderful lifestyle amenity to the bay, which is already a jogger and biker paradise.

A public meeting on the beach proposal has been planned for May 11, Mayor Fábrega said. The project could cost as much s $120 million and connect with several other clean-up projects in the area, according to reports.