Construction of the two buildings which compose it started January 2009 and finished January 2010.
Several companies have stated their intention of participating in the project: 3M, Caterpillar, 3PL Panamericana, Bombasa Latinoamérica, Aggreko, Cable & Wireless, IP Leather, Singapore Technology Aerospace and Yermont Enterprises, among others.
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Construction of the first phase of the $70 million Howard, Panama-Pacific Project starts tomorrow.
London & Regional Panama, master developer of the Panama-Pacific Special Economic Area, will hold the official innaguration for construction start up.
The ceremony will be held on Thursday, November 13, 2008 at the former Howard Base.
$65 million have already been invested in the former Howard Air Base.
Henry Kardonski is the CEO of London & Regional Panamá, developer of the project. He assured that by the end of 2009, over $100 million will be invested, 15% of the targeted $705 million.
Work on the industrial business park is expected to be finished this month, with 10.000 m2 of office space and 21.000 m2 of warehouses.
The British company, London & Regional, is developing the project which would imply a $705 million investment over the next 40 years.
In an article in La Estrella de Panama, some of the characteristics of the project are described, which consists of a sustainable city with business parks, logistics, tourism and residential areas.
With an estimated investment of $14 million, the Coronado Mall will have 40 stores, 15 offices, a business center and food court with nine restaurants.
Claudio Valencia - manager of Haus, developer of the project - said that they hope to finish construction in December of next year so that the commercial center can begin operations in the summer of 2010.