Construction Update from Ocean Club Residences
This render from the developer shows the stunning infinity pool with views of Panama City, that owners at Ocean Club Residences will be able to enjoy.
Great news! The construction team has broken ground at Ocean Club Residences.
The team are now digging the foundations, something that will take several weeks.
Located in the Bay of Panama, Ocean Club Residence owners like you will own in one of the most exclusive locations in Latin America.
Once the foundations have been completed, the construction team will focus on waterproofing, before installing the underground utilities and then backfilling the area around the foundations.
The topsoil has been cleared away, and the construction team are digging the foundations.
Ocean Club Residences remains on schedule, and the expected delivery date is the second half of 2027.
Once the foundations are complete the team will move on to waterproofing and installing underground utilities.
Ocean Reef Looks Amazing
A member of the Smart Money Homes team was at Ocean Reef recently. He sent me some photos, and as you can see below, the community looks incredible.
The Wellness Center is the temporary site of the Ocean Reef restaurant, Blu.
And there’s plenty of work going on throughout Ocean Reef.
Construction of the Yacht Club will begin soon, and equipment needed to dig the foundations is in place. When completed the Yacht Club will include a bar and restaurant, and it will be one of the most prestigious clubs of its kind in Latin America.
Work will begin soon on the Yacht Club, which will be the final location for Blu restaurant. This high-end restaurant is exclusively for Ocean Reef owners and their guests.
The Wellness Center and pool are complete. As an owner at Ocean Club Residences, you’ll have access.
The pool at the wellness center has incredible views of Panama City.
Ocean Reef is the most exclusive address in Panama, and there are very few condos still available. But exclusivity isn’t the only factor fueling demand…the quality of workmanship here is simply incredible.
And it’s what you can expect as an owner in Ocean Club Residences.
For an example of this workmanship, you only have to look at the five-star amenities that owners, including RETA members, enjoy in the nearby community of Seascape enjoy.
Owners in Seascape have access to a private cinema, ocean-view pool, massage room, gym, and co-working space. All built with the finest materials and craftsmanship.
Seascape owners can screen movies in their own private cinema room.
Everything in Ocean Reef is built to these exacting standards. Your condo at Ocean Club Residences will be the same.
Seascape, with its ocean-view pool and 5-Star amenities, has been built to the highest standard. Just like Ocean Club Residences will be.
Panama Named as Best Leisure Destination in Latin and South America
Panama has been named “Best Leisure Destination” in Latin and South America three years in a row. Image source: iStock
Panama has been named “Best Leisure Destination” in Latin and South America for the third consecutive year by Global Traveler magazine’s Leisure Lifestyle Awards. The country was recognized for its culture, biodiversity, and architecture, beating out destinations like Bogota and Buenos Aires.
Global Traveler highlighted activities such as hiking, gastronomy, water sports, and indigenous community visits.
Global Traveler, a U.S. publication with over 500,000 readers, conducted a survey from July 2023 to March 2024 to determine winners in various leisure, luxury, and lifestyle travel categories.
Panama to Build New Railway Connecting the Country
The $4 billion rail project is another example of Panama’s Path of Progress.
The Panamanian government has proposed a rail project connecting Panama City to David, the capital of Chiriquí province.
Plans for the new railway call for a 243-mile route which would reduce travel time between Panama City and David from six hours by car to two and a half hours by train.
President José Raúl Mulino, who took office in July 2024, has made this $4 billion project a priority of his administration.
The rail line is expected to improve transportation efficiency, reduce reliance on cars, and stimulate economic growth.
Panama Seeks to Encourage More Tourists with Stopover Plans
The Stop Over program hopes to encourage passengers passing through Panama International Airport to spend some time in Panama. Image source: iStock
Panama manages 31% of Latin America’s air connections, with Tocumen International Airport handling 17.8 million passengers in 2023. But nearly three quarters of these passengers are transfers who don’t leave the airport.
Panama’s Copa Airlines in collaboration with the Panamanian Government, aims to attract over 150,000 tourists to Panama in 2024 through its Stop Over program, which allows transit passengers to visit Panama as a “free” second destination. From 2019 to 2022, the program attracted 320,000 visitors, with 120,000 in 2023 alone.
Passengers with layovers in Panama City on Copa Airlines flights are eligible to participate and can extend their layover for up to seven days without incurring additional airfare costs.
To encourage visitors to explore Panama, the program often includes special rates on hotels, tours, and attractions.
And Panama City continues to attract new routes. In June, Copa launched three new routes: Raleigh-Durham in the U.S., Florianópolis, Brazil and Tulum, Mexico.
That’s all for me from now. I’ll be writing again soon with another update from Ocean Club Residences.
In the meantime, if you have any questions about your condo, the Smart Money Homes team and I are here to help.
Email us at info@smartmoneyhomes.com and we’ll get back to you with the answer.
Yours sincerely,
Viviana Diaz
Chief Real Estate Advisor with Smart Money Homes
