DONALD TRUMP can't be wrong, can he? Trump has fallen so much in love with Panama that he is building a $220 Million, 65 story (2.4 Million square foot) hotel/condo monoliths called the Trump Ocean Club International Hotel & Tower in a posh Panama City neighborhood. Trump will build 500 luxury condominium units along with a 312-room hotel. This complex will include a casino, private beach club and a marina. Groundbreaking is scheduled around this Christmas with a completion date in 2009.
Why is Trump doing this in Panama of all places? In an April 24, 2006 press conference in New York, Donald Trump said his interest in Panama was sparked three years ago when his "Miss Universe" pageant was held in Panama. He saw that Panama city was "beautiful" and vowed he would develop there if the right opportunity came up. His project was "easily funded", noting that as many as seven "major financial institutions were fighting to put up money." He agreed that "Americans are coming in droves to Panama," due to it's political stability, low cost of living, low interest rates, and being located outside of any hurricane path. "It's great for baby boomers." Trump said, although the project will be marketed worldwide. The condominium units will start at $180,000 with unobstructed ocean views.
Panama is just beginning to realize a real estate boom!
Besides Trump, many international real estate investors are also discovering Panama.
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