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A few minutes from downtown Panama City, Panama Pacifico, one of the largest mixed-use developments in the region, continues to expand and attract companies from around the world.

In a recent interview,  the administrator of the Panama Pacifico Agency, Javier Suárez Pinzón, announced that the group is planning to invest another $50 million to help develop infrastructure to attract more international companies to the special economic zone.

“We are aligned with the master developer; we both understand the project’s potential and the importance of continuing to attract foreign investment and generate employment,” Suárez told Eco. “Panama Pacifico has a 40-year plan, extendable for another 40. We’re thinking big, with a vision for the future.”

The growth of Panama Pacifico is an important driver for the economy and the real estate industry. The international exposure generated by the development exposes Panama to millions of people around the world, and many of the international executives who live in Panama Pacifico eventually move up to homes in the city.

Developed by London & Regional Panama since 2007, the project is following a 40-year plan, and now is home to 400 active companies, generating around 10,000 jobs, in addition to 50 businesses, 8 educational centers, 2,500 homes, and an airport with 400,000 passengers annually, according to Eco. The development includes more than 600 acres of green areas, trails, and bike paths, making it a model for a sustainable, healthy mixed-use development.

“From the beginning, the master plan contemplated residential, offices, warehouses, and retail spaces,” Suárez said. “Now we’re gaining momentum in the industrial and logistics sectors, where we see greater employment potential.”

The new investments will focus on upgrading the water network and developing new warehouses to meet growing market demand. “Before, we had spaces of 3,000 or 5,000 square meters; now, companies are asking for 20,000 or 40,000 square meters,” he said.

Suárez says 30 to 50 new companies could establish operations in the region this year, taking advantage of tax incentives and government programs..

Suárez also discussed the possibility of moving the Albrook Airport to Panama Pacifico, a project he deemed viable and strategic for the country.

“The area is developed around the airport, and strengthening it as a logistics and commercial hub is key to attracting more investment,” he said.