Not only is there a steady stream of investors, developers and multinationals (Hewlett-Packard, Procter and Gamble, Caterpillar) arriving in Panama to take advantage of the growing real estate and business opportunities within Panama, but the national government is investing millions of dollars in infrastructure improvements and upgrades.
Witness the Cinta Costera (Coastal Belt) that has now begun construction along Panama City’s waterfront. It will forever change the look and feel of the downtown area. With some 25 hectares of landfill creating huge areas of greenspace for walking and bicycle trails, public parks, marinas, parking spaces, pedestrian bridges, kiosks and other public spaces, this project will enhance enormously the quality of life in the city.
The Panama government has earmarked $85 million for the project as well as another $13 million for a sewage treatment facility to compliment the Panama Bay cleanup effort that began a few years ago.
Below are photos of the shoreline of Panama City as it will look after completion of the Cinta and one of the progress that has already been made. Notice how the once waterfront Balboa monument is slowly becoming an inland location. It will eventually be relocated to again take it rightful place along Panama City’s waterfront.
Posted on Tuesday, April 15th, 2008 at 1:01 pm
Filed under news and updates.
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