Panama Pacifico International Business Zone and Housing Development

Howard Air Force base, once controlled and operational as a US Air Force base, is now in the hands of the Panamanian government. Since 2000, the government turned the air force base into a special economic zone. All buildings that were once used for housing air force families and personnel have since been converted into Panamanian homes. And the remaining buildings, plus newly constructed ones, are full of multinational companies like 3M and Dell. it

But it was only in the November 13, 2008; the official launch of the Project Panama Pacifico was  made open to the public. The government's vision was to create a place where investors from around the world could come together and create an tax incentive business zone.The UK based developer, London Regional, is guiding the project's development from start to finish after the government accepted their $750 million bid in 2007. The infrastructure and facilities of Panama Pacifico are of the highest international standards.

The air force base is now a balanced mixture of residential and business facilities over 3,000 acres of which half has been dedicated to remain undeveloped green space that will include parks and gardens.

Panama Pacifico still has many facilities that were once part of the US air force base that are slated for some sort of reuse, such as an airplane hanger, movie theather, parks, gold course and roads. The existing roads and buildings are also being restored and converted.

The government of Panama has turned the area into a special economic zone with extensive tax benefits and other incentives. The first phase of the project is complete which consists of an international business park spread over 58 acres.  It offers both commercial and industrial space tailored specifically to the use of multinational companies.

Once fully complete, Panama Pacifico is expected to create nearly 20,000 jobs, as well as provide apartments, homes, hotels, restaurants, schools, medical facilities and a commercial airport. 

Project Pacifico is creating a storm among real estate developers and other investors around the world. As the project becomes fully functional, it will surely become a huge attraction for doing business in Panama.

 Trump Panama Hotel and Condominiums Now Open - 31.08.2011 15:55