Panama tower Trumps rivals

BY MARTY HOPE, CALGARY HERALD NOVEMBER 20, 2010

 

 

Panama is attracting Canadian snowbirds looking for a retirement property or second homes.

Why this particular Central American country?

The weather, obviously, is a factor, but there is also the fact it has some appealing financial benefits for people looking to retire there.

And Donald Trump being Donald Trump, he recognized the eye candy, financial and otherwise, that Panama represented.

The millionaire developer and celebrity TV personality (The Apprentice) has sunk more than $400 million into a sail-shaped, highrise luxury condo development to entice North American money to the region.

Trump says his interest in Panama started about five years ago when he held the Miss Universe pageant there.

"I'm excited to bring the prestige of the Trump Organization to this exceptional destination project," he says in a news release. "With this development, we will set a new standard of luxury in Panama."

Trump Ocean Club International Hotel and Tower Panama is the tallest building in Latin America and covers more real estate than any other development in the region, says Roger Khafif, president of Newland International Properties Corp.

It took more than three years to complete the project, which soars 70 storeys from the trendy Punta Pacifica area of Panama City and covers nearly three million square feet.

"This is the first time the Trump Organization has invested in real estate in Central America, highlighting the present level of confidence Mr. Trump has in Panama, our budding economy and our first-class developments," says Khafif.


Read more: http://www.calgaryherald.com/business/Panama+tower+Trumps+rivals/3860221/story.html#ixzz15qajgw1R

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Panama tower Trumps rivals