Panama Is A Hotspot For Entrepreneurs

Panama Is A Hotspot For Entrepreneurs

“With its strategic location, stable economy, and supportive government policies, Panama is becoming a hotspot for entrepreneurs looking to start and grow their business,” continued the publication in a recent report.

In addition to these positive data points, it is widely recognized that Panama is rapidly attracting business because of:

• Modern infrastructure, including ports, airports, and highways, which capitalize on its strategic location and ability to easily reach markets in Mexico, Central and Latin America;
• The availability of funding from venture capital firms and investors looking for opportunities in a country with a solid government and US-pegged economy;
• A growing pool of highly skilled talent, including bi-lingual and educated professionals;
• The fastest and most reliable internet and digital connection in Central America and 25th in the world.

With this type of growth, it is challenging to balance supply and demand when it comes to providing residential and commercial options. To meet this steady growth, Empresas Bern is aggressively closing projects and preparing to deliver units for investors and residents while breaking ground on new projects. Two of the most exciting residential projects coming online are Nogal, in Costa del Este and PinoAlto in Boquete.

Nogal will offer residents a variety of amenities, including pools, a running track, social areas, a business center, 24-hour security, and on-site management.

A New Residential Tower

Nogal, a high-end building, will break ground on a residential tower providing one- and two-bedroom units ranging from 1,076 to 1,410 square feet for employees and trailing families associated with newly located companies, local professionals, digital nomads, and long-term residents.

Known for its open design concept, Nogal embraces the “greenness” of Costa del Este through floor-to-ceiling windows that allow abundant sunlight, wide balconies, and spacious living areas. Situated just steps from Costa del Este’s Central Park, it also has easy access to the TownCenter Mall, numerous restaurants, and a variety of grocery shopping, pharmacies, and banking options. The Johns Hopkins affiliated International Hospital, is within walking distance and is part of a medical complex offering various healthcare options, including world-class dental services, vision, and specialty services such as audiology, IVF, stem cell, and plastic surgery.

It’s All About The Food

“The thing I like most about living in Costa del Este,” Rita, an ex-pat from Germany, said, “are the options for food. I grew up in Europe, where we go to the market almost daily. Here you can walk to a Farmer’s Market for protein, a specialty grocery store for great produce, and an upscale wine store for imported cheeses and various wines. I also love my local ‘helper’ who lovingly cares for my child,” she continued laughing, “but I think it’s the food I’m most grateful for. I only have to drive to the central fish market, and everything else is right here, even freshly baked bread.”

The Foodie Specialty Produce Market in Costa del Esta is located in the TownCenter mall and carries fresh produce, fresh sandwiches and juices.

Rita looks forward to Empresas Bern completing the Nogal project because “it will give my family more space. We are living across the street now, but we’re anxious to be able to spread out a bit more. Initially, we thought we’d be here a couple of years, but when my husband’s employer, Nestle, gave us the option to stay, we jumped at the chance,” Rita continued.

And, Now Boquete!

While growth in Costa del Este continues rapidly, other parts of Panama have also seen a rise in needed residential options. Boquete, a town of 20,000 residents located in western Panama, has always been a darling of retiring ex-pats because of its year-round spring-like weather, but now, it is seeing demand for rental units in conjunction with increased tourism and interest.

Named regularly among “best of” lists are new eco-tourism spots and island getaways introduced in the last few years that have upped the interest in Boquete. With the advent of more tourists, a void of adequate long- and short-term rental options has increased in addition to ex-pats.

Nayara is an adults-only retreat located in Bocas del Toro, near Boquete, which, according to its glossy advertisements, “provides a Balinese-inspired escape.” Since not everyone can afford the all-inclusive $1,628 per-night price excluding taxes and fees, PinoAlto will soon offer more realistic options.

Inside The Boquete Country Club

To fill this void, Empresas Bern has recently broken ground on a multi-phased residential property, PinoAlto, featuring one-, two- and three-bedroom units, an on-site medical facility, and social areas inside the Boquete Country Club. These condo suites focus on leisure, community, and sports options, such as a golf course, equestrian stables, and tennis courts.

Once completed, PinoAlto will be a mountain escape adjacent to many of the world’s best coffee plantations, a bustling social and art scene, and festivals, including the flower festival, which highlights the orchid. Known as the Rolls Royce or the flower world, Boquete is home to numerous orchid varieties.

While Nogal is primarily designed for the homeowner, PinoAlto is structured for both the permanent ex-pat or retiree and tourists. On-site management will provide a turn-key option for a high Return on Investment (ROI) for the investor and will welcome tourists, ensuring a seamless transition between visitors. Management will also benefit the long-term resident with on-site security and hands-on assistance with packages and other needs.

PinoAlto embraces the lush rainforests and mountain views in Boquete.

It is an exciting time for Empresas Bern as projects are being completed and delivered, and now two residential projects are under construction. Please do not hesitate to contact the Sales Team for more information about real estate options and Panama’s continued growth.