News

The opening this week of the casino in Trump Ocean Club is a big event for Panama City – and the Panama City real estate market.

The casino is the largest in Central America property market and it will cement the Trump as the entertainment center for Punta Pacifica. Casino operator Sun International, which is best known for its glamorous casinos in South Africa, targets a high-end clientele that will mix nicely with the Trump brand, attracting a new generation of international buyers and renters.

That’s why I’m proud to announce that Punta Pacifica Realty is opening a new boutique office in the Trump, providing investment, sales and property management consultation. We are bullish on the Trump, as we see a rise in sales and rentals over the last six months.

To help spread the news, we issued a press release to the international media a couple of days ago. You can read the press release here.

As we detail in the press release, Trump apartments are outperforming most of Panama City. Prices for a one-bedroom apartment in Trump have risen 13 percent in the last year to $3,450 a square meter, up from $3,050 a square meter a year ago. And Trump is selling approximately $6 million worth of apartments per month, according to data released by developer Newland Properties.

The casino is only going to help sales and rentals. The marketing efforts alone will display the Trump to a new audience, especially Sun’s wealthy clientele. Sun has set aside a dedicated floor just for its high rollers.

If you haven’t checked out the design of the casino, it’s very nicely done. The gaming area is tucked into the mezzanine level and there is a dedicated lobby for the casino, so there is little impact on the residences or other events at the Trump.

In every way the casino is a major step forward for the Trump and Punta Pacifica. Not only will hotel traffic increase, it should boost both rental activity and, in the long term, sales.

We’re ready for it. Our new office is located in the Trump shopping area. If you’re in the Trump, please stop by and say hello. We’re always happy to talk and share our insights about Punta Pacifica real estate.

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.