The new Trump Ocean Club in Panama is expected to set the bar for luxury real estate in the Panama market. The project will be the largest Trump resort when completed with over a thousand units, 8 restaurants, a marina and a casino. See the following article by Panama realtor Kent Davis for more on this.
In a town of almost two million people and over 200 high rise buildings, there is bound to be a stark contrast between the low and high end of the real estate market. The buildings considered “high end” in Panama can be counted on two hands, but the quality of construction in this upper segment of the market varies tremendously. In fact, construction standards and the quality of completed inventory have declined in the last three years as developers have scrambled to deliver finished product to meet international demand. Anyone looking at the $400,000 and up price range needs to know that not all luxury buildings are created equal.
Trump Ocean Club Panama is, inarguably, the highest end of the luxury real estate market in Panama. The amenities are what you would expect from a 5 star Trump resort, the building layout takes full advantage of direct ocean views, and the project’s unique apartment floor plans are unrivaled. But the property stands out, in our eyes, for a far less talked about reason: Quality of Construction.
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Quality of construction is the most defining characteristic in the Panama City real estate market and a lot is at stake with Trump Panama. The resort is Trump’s largest in the world and boasts a total of 1,006 units, six swimming pools, 8 restaurants marina, and a casino. The project is one of the first high rises visible from the highway entering the city and is already the defining building of Panama City’s Punta Pacifica neighborhood. With such high visibility though comes the responsibility of delivering a quality product, and this stage of construction is the make or break point.
So why do we like Trump so much? Because any day of the week you can see the jobsite crawling with as many as 1,000 skilled workers, all being managed by one of the largest names in Latin American construction, Opcorp Arsesa (which is subsequently then overseen by the Trump build team). Weekly, at least one of our agents can walk the jobsite and confirm that what is being built in this spot will truly be a solid, well constructed building.
High quality and skilled labor are evident throughout the jobsite where become visible the little things; things like symmetrical brick work, smooth concrete finishing, drains installed correctly, etc. Other details like a clean jobsite and an orderly supply room, taken by themselves may not mean much, but considered together and in the context of a massive construction project can only mean one thing: this building is going to be the exception to the rule. This building will define luxury in Panama and set the bar higher than it’s ever been set before.
With the myriad of projects being built in Panama City, we believe Trump Ocean Club will stand the test of time and remain one of the nicest buildings ever built in Panama. As unbiased spectators to Panama City’s real estate ventures, some buildings make the grade and others fall embarrassingly short. In terms of true international quality, Trump Panama is exactly what our clients search for in a high-end product.
Kent Davis is the Founder of Panama Equity, a boutique real estate agency in the Republic of Panama. He is currently researching Trump Panama for an investment report to be published later this year, and is the author of the highly-controversial expose Blood On The Streets, Everything That’s Wrong With Panama Real Estate Agents And Why I’m One Of Them.
