Written by Webmaster, on Thursday, July 09 2009

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The project has been sold out since September of last year, but Philip James Realty currently has four units available at the same price the developer was selling them for when the project sold out nearly one year ago.  This offering will allow buyers to take advantage of both the significant appreciation which has occured in the local market over the last  year as well as potential rental returns exceeding 20%.   In fact, the project offers rental returns which, based on realistic predictions, exceed almost anything we have seen in Panama.  Best, the investment is completely hassle free with all management and operations in the very capable hands of H.I. Development, which manage high quality hotel chains such as Hilton and Crowne Plaza world-wide.

Offering large rooms, full kitchenettes, and large balconies, Central Park Suites are the perfect alternative for business and leisure travelers who want the comfort of a home-away-from home atmosphere with all the amenities of a hotel.  Located in the desirable El Dorado area, Central Park Suites boasts easy access to the expansion site of the Miraflores Locks, the new U.S. embassy, regional U.N. headquarters, and downtown Panama City - without the hassles of downtown Panama City traffic and congestion. The location also provides easy, traffic free access to Tocumen airport, is steps away from the National Metropolitan Park, and is right adjacent to the upscale shopping center known as Camino de Las Cruces.  The project is ideally situated to meet the ever increasing demands for hotel space in Panama City and the canal zone area.
 

In fact, the last 12 months have already seen hotel occupancy in Panama pushed to the limit, even before full scale expansion of the Panama Canal has begun.  Hotel occupancy, which has been pushing 80%  and even 90% at just about all of Panama's high and mid-level hotels, will continue to increase for the foreseeable future as tourism numbers continue to rise, major infrastructure and expansion projects enter their peak phases, multinationals continue their expansion into Panama, the Colon free trade zone continues its growth, and retirees continue to explore Panama for a lower cost retirement option.  
 

Multinationals which have already announced their moves to Panama include household names such as Caterpillar, Nabisco, Proctor and Gamble, and Dell.   In addition, Royal Caribbean will begin full operations of a cruise ship embarcation point in Panama offering seven day cruises beginning December 2008.  And then there is London & Regional Property's already approved bid to transform the 2,750 acre former Howard Air Force base near Panama City into a major commercial center and residential project - with significant focus on satisifying Panama's ever growing office, warehouse/distribution, logistics, inter-modal, media village, business park, manufacturing and call-centre real estate requirements.

Last update: Thursday, July 09 2009

Published in : Condo Sites, Condo Hotel

Keywords : Central Park Suites, condotels, condotel, condo hotels, condo hotel, condos in panama, condo in panama, rent condos in panama, condos, condo, hotels, hotel, rent condo in panama

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