The Gorgona Lounge Plaza project is located in a picturesque area on the Pacific Ocean coast of Panama.
Panama is a small tropical country with several attractive qualities. The main benchmarks for the location of the project in this area were the following factors, made after conducting an in-depth analysis.
The region in which we propose the project to be built is in a dynamic growth stage of interest from both customers and investors.
Due to its geographical location, the region acquires specific importance in the tourist market. The growing policy of the government reinforces this on the development of international tourism in the region through the creation of various financial incentives for investment. This leads to the conclusion that the idea of the real estate development tourism industry is relevant and, if properly managed, profitable.
An analysis of nearby projects revealed that the region has a growing presence in the middle and high market segments, which, in turn, will lead to increased consumption of services at this level.
Panama has a major international airport, which is currently being expanded and modernized.
Direct flights from Panama are available to all major cities in the United States and the whole Americas within a 2-5 hour flight distance.
There are daily direct flights from Panama to some European capitals in an 8-10 hour flight and the number of these flights is growing every year. Major international airlines offer their service to these destinations.
Panama is one of the safest countries in the world, statistically having the same tourist safety coefficient as the U.S. and Canada.
Many tourists often write about it in their reviews, putting Panama in this sense far above other countries.
In Panama’s long history, there have never been major earthquakes, hurricanes, or tsunamis. This is due to Panama’s geographical location outside these critical zones.
The annual temperature range is between 26°C and 33°C and in the mountains between 18°C and 26°C.
Panama has a wide range of interesting tourist destinations and high-quality leisure activities for different tourism categories.
Taking into account the small size of the country, all these various destinations are situated in close areas, which allows wide use of them in a short period.
There is no time to be bored: Panama offers its beaches and mountains, its rainforests with a wealth of flora and fauna and the skyscrapers of the modern city, rich gastronomy, sports activities such as golf, fishing, surfing, diving and snorkeling, and an introduction to the history of Indians and the Caribbean of the Colonial Period.
A new biodiversity museum by the architect Frank Gehry, the greatest maestro of our time, has already been commissioned. This museum, in addition to its permanent and traveling exhibitions, intends to develop tourist programs and itineraries for a wide range of interests and tourists, to provide electronic information guides for those planning their itineraries, and to organize and coordinate ecological tours with high-level specialists.
In addition, there is a wide variety of other projects being prepared and implemented by the Panamanian government to continuously improve the quality of the tourism industry as one of the main sectors of the country’s economy.
Today’s Panama, as real estate experts say, reminds us of Florida from 20 years ago – it has the same attractive features with the lowest real estate prices. Not surprisingly, a lot of U.S. citizens buy apartments and houses in Panama, residences on the beach and in the mountains, all for much lower prices than what they sold their properties for in the U.S. and as more people discover the attractiveness of Panama, their properties will go up in value.
The tax policy of the state is very forgiving and offers tax exemptions for all citizens without exception on new properties for up to 20 years. For investors in tourist projects, new government incentives are constantly being developed, which include, in addition to real estate tax exemptions, also exemptions from taxes on equipment and products imported for the projects, as well as many others provided in the latest draft law “About tourism”.
Historically, in Panama, there are no restrictions on foreign nationals in the purchase of real estate. The rights of foreign citizens in this area are identical to the Constitution of Panama protecting the rights of the citizens of Panama.
Moreover, any foreign citizen who buys property in Panama for a certain amount has the right to obtain a Panamanian residence for himself and his family with all the privileges. Panama supports a multiple citizenship policy and allows all naturalized citizens to retain their previous citizenship.
The passport of a Panamanian citizen is very favorably received worldwide, as evidenced by the right to visa-free entry into almost all countries of the world.
The Government of Panama is constantly developing and improving its legislation to streamline the development business and in general make the best use of the urban structures of the city, which leads to the reduction of operational difficulties in the exploitation of the entire urban infrastructure and an increase in the interest of investors.
A vote of all citizens democratically elected Panama’s government and is currently pursuing an extensive program of infrastructure development unprecedented in the region and at a pace unparalleled in the region.
All sectors of the economy are involved and statistics show an annual steady increase in the well-being of Panamanians, which offers good prospects for domestic real estate and tourist sales.
The country’s transportation system is growing and being modernized at a tremendous pace, which leads to an increase in comfort and safety of movement for all citizens, including tourists.
In December 2013, the first line of the Panama Metro was put into operation.
Panama is a major commercial center. Tourists from many countries in the region prefer to do their shopping in Panama, where at the moment there are 6 major modern malls, in which most of the world’s brands are widely represented.
Investors and tourists find this a very convenient factor, as this coin is well known to everyone and has established itself as stable.
Retirees in Panama get discounts on airfare, medicine, restaurants, entertainment, hotels, and more.
Another convenience is to move all your property tax-free. Retirees can import a new car every 2 years without paying taxes.
All retirees have a discount on purchases at cafes, restaurants, and many stores. Obtaining a visa for pensioners has a simplified scheme.
Medical care in Panama is on par with the U.S., but much less expensive.
Most of Panama’s doctors have been specialized or trained in the U.S. The quality of medical equipment is at the same level as in the U.S. and prices are much lower.
In addition, given many high-category medical facilities, there is a very low workload, allowing for immediate service, even in cases requiring highly specialized specialists.
Panama has always been a place where people of different nationalities and cultures have historically lived without conflict. There are large diasporas from many American, European, and Asian countries that regularly hold festivals of national costumes, cuisine, and movies.
Some of the largest diasporas rooted in Panama are Greeks, French, Italians, Spanish, U.S., Argentines, Brazilians, and many others. Each of these nationalities has left its mark on the Panamanian nation’s character, personality, and diversity.
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