Veracruz, located approximately 25 minutes from Panama City is known for its beaches, on which there are small sized ranch style restaurants where you can get fried fish for $3 to $5 and beers for $ 0.60
It is an economically attractive area in front of the site which was once the U.S. base Howard.
The properties opposite and overlooking the ocean which are located in Veracruz and Majagual are economically attractive as real estate investment for several reasons:
- The properties in this area of Panama offers beautiful ocean views and beaches at a distance of the city that can be traveled daily. The trip may take 25-30 minutes to downtown Panama City and only about 15-20 minutes to get to Balboa Panama, which has everything a person could want for daily life.
- The former U.S. Air Force base Howard which is located opposite the area of Majagual and Veracruz, and the former Rodman Naval Station recently received legislation to become a free zone for trade for the Pacific.
- Also, a resort area is being constructed on the road to Veracruz and Majagual, about 10 minutes from the current area of Majagual. The resort is being built by InterContinental Hotels Group (IHG), the largest hotel company in the world, global, and Empresas Bern, the largest operator group of hotels and tours in Panana.
The growth experienced in the area has led to the Unit of Reverted Properties to postpone the sale of lots in Amador and Sherman in order to update development plans anticipated in that area.
It's not just the projected fourth bridge over the canal and the convention center being built in Amador, but also the future Metro Line 3, which connects the east of the city with the districts of Arraijan, Capira, Chame, La Chorrera and San Carlos.
The Reverted Property Unit will be auctioning lots in August for residential or commercial development in Gamboa, Margarita, Davis and Espinar, in the Atlantic sector and in Farfan and Ancon on the Pacific.
From a statement issued by the Ministry of Economy and Finance:
Located Ramal Villa Lucre along Corredor Norte, next to the succesful Villa Lucre development at $180/M2 or $16.72/SF. Total area of property 12,613 m2 or 135,766.33 square feet (3.17 acres). The property has a frontage to the ramal of Villa...