News

Development Bank of Latin America and the Caribbean (CAF) continues to grow its presence in Panama with the recent announcement of a $491 million deal to fund the construction, expansion, and modernization of sanitation infrastructure throughout the country.

If you haven’t heard of CAF, they are a regional player promoting sustainable development and integration. They’ve been involved in Panama for years, but their profile took a big leap forward last year when the group announced plans to build a new six-story regional headquarters in the heart of Obarrio, the financial district.

The headquarters building will catalyze a new “superblock,” designed to promote walkability and social interaction in the district. It will be a game-changer, and the real estate community is closely following its progress.

PPR is working on MOVA by B&B Italia, a beautiful new development next door to CAF’s new headquarters building. MOVA will offer 285 high-end condominiums in a three-building complex that will take full advantage of the new neighborhood vibe, with a mix of residential, commercial, and hospitality space. Mova is designed around nature and wellness, with interiors created by B&B Italia, the Italian firm known for its iconic contemporary designs.

Now CAF news is real estate news, and the latest announcement is another sign that CAF plans to influence the future of Panama. The investment will “improve the quality of life of Panamanians through a comprehensive strengthening of sanitation in the country, promoting public health and environmental sustainability,” according to a company statement. The financing specifically targets Panama’s growing Western provinces, to protect the beautiful natural environments.

The Ministry of Health will administer the Panama Sanitation System Improvement and Expansion Program, which is estimated to benefit approximately 1.25 million Panamanians directly. Indirect benefits are expected to “reach the entire population that depends on the surrounding aquatic ecosystems, as well as key economic sectors such as tourism and fishing, which will result in a general improvement for the nation,” the company said.

 “With this new operation, we ensure the progress of key projects for public health and the decontamination of rivers and coasts, promoting the sustainable development of the country,” said Sergio Díaz-Granados, CEO of CAF.