The Ritz-Carlton hotel chain formally announced their commitment to an ultra-luxury, 80 villa private island project off the Pacific coast of Panama.
Phase one should be completed by 2016, and will include a 129 hectare nature reserve, as well as a private landing strip and boat marina. We have observed actual development of the island project since 2007, and according to our sources, over $25 million has already been invested.
Worldwide, Ritz-Carlton operates five of these types of ultra-luxury, off-the-beaten-path type projects, and Panama’s will be their first in the region.
Development plans and construction photographs were made available to Panama Equity just before the announcement, and what we saw marked a new precedent in high-end island communities here in Panama. From an execution standpoint, the development partners have the financial resources and local expertise to deliver what we believe will be a product that has seen pent-up demand from wealthy expatriates as well as local Panamanian families looking for a more private alternative to a beach property. As well as, of course, the Ritz-Carlton brand following.
To get more information on available lots and development progress, please contact us.
