Ivanka Trump hails Panama's booming real estate market
(offplanpropertyexchange.com) The developer behind one of the grandest real estate schemes in Central America and the Caribbean has revealed demand is outstripping supply at the project.
Ivanka Trump of American firm Trump Organisation sung the praises of Panama, where the company is developing the Trump Ocean Club luxury real estate scheme.
She told the Latin business chronicle Panama is now one of the strongest real estate markets in the world, and was attracting investment from across the Americas.
Trump Ocean Club is a 70-storey condo and hotel scheme set to open next year and just one of a number of investment projects springing up across the country.
Quoted by the Latin Business Chronicle, Miss Trump said: “Panama is one of the strongest, if not the strongest, real estate market. Our biggest problem is not having enough inventory. We only have a small per cent of the building left.”
Miss Trump is executive vice president of development and acquisitions at Trump Organisation and is the daughter of property mogul Donald Trump.
Trump Ocean Club is being built in Punta Pacfica, Panama City, and will exceed a $400 million investment, according to Trump Organisation.
Condo homes include one to two bedroom units and the curving tower project also features a yacht club, casino and spa on-site.
Central American and Caribbean real estate is continuing to attract investment from upmarket buyers as other markets falter, with states like Barbados still seeing price rises in some areas.
