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.
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The Administrative Unit of Reverted Properties has announced the sale of Plot PS01-5 in Altos de Batele, on the Pacific coast, at approximately $38 million.
The land is located just minutes from Panama City, south of the entrance to the Canal, near the Panama Pacífico Special Development Zone.
Up until August, $41 million was registered from the sale of reverted real estate and it is estimated that by the end of the year, the amount will rise to $80 million.
The money was obtained from the auction of properties that were returned to the country as part of the fulfillment of the Torrijos-Carter treaty signed in 1977.
The Administrative Unit of Reverted Properties expects to auction 87 properties this year, with reference prices ranging from between $150,000 and $47 million.
Two of the properties which are soon to be auctioned are located in Llanos de Curundú, three in Margarita, two in Gamboa, two in Los Santos Province, one in Farfán and three in Veracruz.
The Ministry of Economy and Finance of Panama will auction land plots No. PS01-08 (167,260 m2) and No. PS01-06 (178,080 m2).
PUBLIC GOODS AUCTION No. 22-2013, FIRST CALL FOR SALE THE GRANT OF LAND POLIGONO No. PS01-06, ground area of 178,076.18 MTS2, LOCATED IN THE SECTOR OF ALTOS DE BATELE, Township of VERACRUZ, ARRAIJAN DISTRICT, PROVINCE PANAMA, mixed-use urban center, ESTIMATED VALUE B/.40, 268,366.58.