Gorgeous Land in El Valle for Development $185,000 (Only $0.80 a meter!!)

Listing Info:

Price:  $185,000
Business:  Land for Development
Property Type:  Commercial
MLS® Num:  25 Ha El Valle development
Status:  Active

Why Panama?:

Infrastructure projects in Panama equivalent to $8 trillion USD! This is roughly 50% of the entire Panamanian economy, it’s a lot of money for this small country. Among these are: The Panama Canal expansion $5.2 billion; Modernizing the Public Transportation system; The Metro (rail) $1.5 billion investment ; The Metro bus systems $269 million; New Panama Convention and Exhibition Center; Several new International Airports (just few Km away from 60% of properties bought and sold; Centenario bridge and 6 lane highway $104 million; The Infrastructure investment plan also includes $210 million for a 15km extension of the Madden-Colón highway to provide an effective road link between the country’s principal cities of Panama and Colón;

The extension of the Cinta Costera highway, which runs parallel to the Pacific coastline in Panama City is a $352 million project that will help reduce commute time in one of the city’s most congested areas; The extension of the North Corridor Highway is a 10km, $112 million extension project that will help workers from the eastern sector of Panama participate in the metropolitan labor market; New health care facilities across the country. These will include 5 new hospitals in key geographical locations (Darien, Colón, Los Santos, Veraguas and Chiriqui) at an investment of $358.2 million; Sanitation of the bay $538 Million; Improvement to Tocument Internation Airport of $100 Million;

In 2007, the Panama Canal Railway Company, operator of a 47-mile railway running adjacent to the Panama Canal and linking the Pacific and Atlantic coasts of Panama, issued $100 million in senior secured notes due in 2026; The Panama City bay Cinta Costera, or “Coastal Belt,” began construction of a park, plazas and improved vehicle traffic control on the congested Avenida Balboa (Panama City bay’s main avenue) in 2007. Formally dedicated in June of 2009, the project is called “Cinta Costera y Nueva Vialidad”(Coastal Strip and New Roadway System).

Avenida Balboa was widened with more vehicle lanes and entry and exit ramps at its busiest areas. This project includes 7 km of pedestrian walkways, 3.5 km of bicycle paths, and 6 pedestrian overpasses to access the Cinta Costera from different parts of Avenida Balboa. A total of $189.1 million will be spent on this project when it finishes with the Casco Viejo extension;

The Cinta Costera is now being expanded into the popular tourist area “Casco Viejo” (Old Town). Casco Viejo’s French and Spanish colonial era architecture will be preserved and made easily accessible for vehicles and pedestrians by relieving the current vehicle traffic congestion. This $52 million project; Panama City will have a new $1.5 billion subway system along with a new $500 million public bus system. The first line for the subway system will run from the Albrook transport terminal to the Los Andes neighbourhood which measures 14 kilometres. Major streets will be connected by Line 1 including Transistmica, Via España and Justo Arosemana Avenues. The first line will include 7 km of tunnels and 6.3 km of viaducts. It will include 16 stations (11 underground and 5 elevated ones) 100 meters long. Line 1 is expected to be completed in 2013;