This may be some of the most exciting (and controversial) news to come out of Panama City of late: construction has commenced on two new islands in the Panama Bay.
In 2008, I reported in International Living rumors the Panama government was considering this massive project. Reports two years ago estimated the investment would be close to $140 million; the new figure released days ago puts the entire cost at $300 million.
The new islands are being built off the coast, just across from the ritzy new neighborhood known as Punta Pacifica.
The original plan called for 138 buildings of up to three stories in height—but there’s no word yet on whether that figure has since been revised. We do know, however, that the project includes the construction of two new bridges—one to connect the islands or “sectors” to each other, and another connecting the new islands to the mainland.
Per Panama’s La Estrella, the easternmost island will be about 25 acres, while the westernmost island will be slightly smaller, at just over 21 acres in size. Local consortium Grupo Los Pueblos is driving the project with the help of Mexican construction company Ingenieros Civiles Asociados (ICA).
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