Ask anyone in Panama City to name the capital’s most iconic building, they will all point to the same sail-shaped tower on the Punta Pacifica waterfront. But they might call it by any one of a wide variety of names.
Many still call it the Trump Ocean Club, the name that it carried when it first opened in 2011, forever changing the dynamics of Panama’s real estate market. The Trump Ocean Club, or “TOC,” became part of the lexicon of the city–the best-known address in the region’s fastest-growing city–the default location for receptions and international events in the capital.
But that changed in March 2018, when the Trump name came off the building and new management took over the operation of the hotel. (The homeowners association had replaced Trump Management years earlier.)
For a very short time, during a transition period, the building was called The Bahia Grand Panama, a name that is already disappearing into history. In September 2018, JW Marriott, one of the most prestigious hotel brands in the world, took over the hotel operation, and, for many people, the tower will always be known as the JW Marriott, or simply the JW.
But the residential portion of the tower has its own identity (and own entrance). When referring to the residential building, many people call it the former Trump Tower or the former Trump Ocean Club or simply “the Trump.” People will know what building they’re talking about.
While this might seem like a small thing, the name question plays a big part of our daily lives, as the largest sales, rental, and property management firm in the building. We have a long and deep history with the Ocean Club, dating to the pre-construction days. The building is part of our blood and we’re always trying to make sure we’re using the name that works for most people.
Technically, the formal legal name is “PH TOC,” which doesn’t help anybody. But “TOC” is still part of the official name, so we like to call it The Ocean Club or TOC in our marketing and advertising materials.
Whatever you call it, the name doesn’t change the building’s role in the history of Panama City. The Ocean Club remains one of the biggest stars in the region’s property market. It established international standards of luxury in the city and paved the way for other international brands to invest in the capital, including YOO, Marriott, and Hard Rock.
Right now, the building is entering a new era, as Panama begins to reopen and investors begin to rethink their portfolios. There are some amazing opportunities to buy in this iconic building, at prices that only exist because of the pandemic.
Contact PPR now to learn more about how to invest in The Ocean Club… TOC… and become part of one Panama City’s landmark buildings!