Of all the money invested, $97 million corresponds to non-residential projects.
According to the President of the Panamanian Chamber of Construction (Capac) commercial and real estate investments are continuing to grow to the west, even as far as Capira.
"He said there is already a captive population Arraiján and La Chorrera, and so now employers are focusing on commercial projects.
But beyond the million dollar investments, the president of Capac argues that there is an urgent need to expand the road infrastructure to expedite travel between the capital and the western area and vice versa.
The Panama Canal Authority (ACP) has already included $20 million in its budget next year for the design of a fourth bridge over the waterway", reported Prensa.com.
Across from the Bridge of the Americas, is Panama Pacifico project in which the firm London Regional has an investment program of $705 million over 40 years.
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Great interest is being taken in land and homes in areas near to the new Metro stops.
Real estate industry representatives agree on declaring areas where underground stations will be located "gold mines".
The price per square meter could rise to the same values or even higher as those currently paid on Avenida Balboa, the area considered the most expensive in Panama.
The construction of both residential and non-residential projects grew by 64.6% in the month of April.
A press release from the Ministry of Economy and Finance reads:
“The construction of projects, both residential and non-residential, grew by 64.6% in April, according to a report by the Office of Economic and Social Analysis at the Ministry of Economy and Finance.
The increase in residential real estate projects around the center of Panama City has doubled land prices in some areas in the space of five years.
The real estate boom experienced in Panama City can now be seen in the prices of residential projects in areas previously considered as "suburbs" where residential real estate developments are priced at over $80,000.
In the last three years loans for the construction sector increased by 427%.
Statistics of the Superintendency of Banks of Panama (SBP) reveal that between January and May 2013, $2.509 billion more has been provided than in 2011, when the amount of loans processed was $587 million.