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MIVI - Panama Pacifico Special Economic Area Development - Panama City - Project Profile

Synopsis
"MIVI - Panama Pacifico Special Economic Area Development - Panama City - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.

The "MIVI - Panama Pacifico Special Economic Area Development - Panama City - Project Profile" is part of Timetric's database of 82,000+ construction projects. Our database includes a 10+ year archive of completed projects, full coverage of all global projects with a value greater than $25 million and key contact details for project managers, owners, consultants, contractors and bidders.

Summary
Ministerio de Vivienda, Panama announced plans to develop the Panama Pacifico Special Economic Area Development project in Panama City, Panama.

The project involves the construction of commercial spaces over one million of land, 20,000 residential units including apartments and houses, retail centers, office buildings, hotels, schools, places of worship, parks and recreational areas, internal infrastructure, water and sanitary systems, pumping stations, electric substations, communications systems, transmission lines, parking places, golf course and other related infrastructure.

The project is the development of a special economic zone including residential township along with green places like park and others over 2,500ha of land.

The land received SEZ status in 2005 and within two years a private master developer was selected. In July, 2007 London & Regional Panama (LRP), a subsidiary of London & Regional Properties (L&R), a global private real estate development firm, won the bid for the 40-year concession for this project.

Qatari Diar is appointed as developer on the project.

L&R committed to invest a minimum of US$408 million over the first eight years of the project, of which US$20 million was paid up front, and a minimum of US$100 million for each eight-year period afterward for this project.

Atkins was the conceptual designer and overall masterplanner for this project. Hargreaves Associates was the landscape architecture and urban planners and designers are Ware Malcomb, MVE Pacific and Perkins+Will. The main general contractors for this project are Constructora Cali S.A, MECO and others. Group Montenegro works as the flex buildings general contractor for this project.

Construction works are underway. Some parts of this project has been completed and the overall project will be completed in 2023.

Scope
Panama Pacifico Special Economic Area Development project involves the construction of special economic area for mixed use development on 2,500ha of land in Panama City, Panama

The US$1,228 million project includes the following:

1. Construction of commercial spaces over 1,000,000m2 area

2. Construction of retail centers

3. Construction of office buildings

4. Construction of hotels

5. Construction of 20,000 residential units

6. Construction of schools

7. Construction of places of worship

8. Construction of parks and recreational amenities

9. Construction of a golf course

10. Construction of internal infrastructure

11. Construction of water and sanitation systems

12. Construction of pumping stations

13. Construction of electric substations

14. Laying electric transmission lines

15. Construction of communications systems

16. Construction of parking places

17. Construction of other related infrastructure

Reasons To Buy
• Gain insight into the project.

• Monitor the latest project developments.

• Identify key project contacts.

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MIVI - Panama Pacifico Special Economic Area Development - Panama City - Project Profile
Published By :Timetric
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