Las Olas Construction Update
Work at Las Olas is progressing well.
The construction team has already advanced to the finishing stages in many parts of the community, working on floor coverings, common area coverings, and wall coverings.
This drone shot shows the existing swimming pool, which will be complemented by a new pool. Together, they will act as a focal point for the community.
Block enclosure (the main building walls) and lightweight enclosure (partition and dividing walls) is around 75% complete throughout Las Olas.
Electrical work started in December and civil infrastructure started in mid-January. Pool excavation started in the last week of January.
The construction team is making excellent progress. In parts of Las Olas, work is already underway on the finishes.
Block enclosure (the main building walls) and lightweight enclosure (partition and dividing walls) is around 75% complete throughout Las Olas.
Electrical work started in December and civil infrastructure started in mid-January. Pool excavation started in the last week of January.
The first batch of deliveries are expected to begin as soon as Q3, 2025.
Expected delivery times for the first group of condos are as follows:
- Tower Seven: Late August 2025
- Tower Six: Late September 2025
- Tower Three: Mid-October 2025
- Towers Four and Five: Early November 2025
Price Uplifts at Las Olas
RETA members who bought in Las Olas are already seeing five-figure price uplifts.
As I shared in the previous update, RETA members are already seeing price uplifts at Las Olas. For example…
- A condo available to RETA members for $254,600 was listed in November 2024 at $313,795. An uplift of $59,195.
- A condo available to RETA members at $288,800 was recently listed at $371,273. An uplift of $82,473.
- And a condo priced at $306,400 to RETA members was listed at $351,079. An uplift of $44,679.
Congratulations on getting in on this deal.
Here’s a reminder of some of the incredible developments that have been taking place at Playa Caracol over the past months.
- Margaritaville Beach Resort & Residences is coming to Playa Caracol – the brand attracts over 20 million visitors annually across its locations worldwide.
- Surfside Hotel is rebranding as a Radisson Hotel, putting Playa Caracol in front of over 600 million potential guests through Radisson’s loyalty program.
- A mini supermarket has now opened at Playa Caracol.
- The restaurant, gym, and pool bar at Radisson Hotel are all operational and available to all Playa Caracol owners. Including the Surf Shack, there are now three restaurants for owners and their guests to choose from.
Enjoy These Photos of Playa Caracol
The Radisson Hotel is open for business and looks absolutely stunning.
A team member recently visited Playa Caracol on a summer’s day in Panama.
As you will remember, Playa Caracol is right on a pristine beach with surfing, swimming, fishing, and whale-watching outside your front door.
Average daytime temperatures in this part of Panama hover around 85 to 88 F, while the Pacific waters stay invitingly warm at about 80 to 82 F year-round. You have perfect beach weather pretty much every day.
The stunning pool and jacuzzi at the Radisson Hotel (formerly Surfside). As an owner at Las Olas you get access to this and all the other amenities at Playa Caracol.
While North America bundles up for winter, Panama is enjoying perfect summer days. From December through April, you’ll find clear sunny skies and cooling trade winds. No wonder so many folks are swapping their snow boots for sandals and escaping to Panama!
At Playa Caracol you’ll have access to incredible amenities like pools, a spa, a gym, restaurants, a new mini supermarket… This is the beachside infinity pool at the Radisson Hotel.
Panama Prepares for its Mega Railway Project
Panama continues to roll out major infrastructure projects, including a new bridge over the Panama Canal and a major cross-country rail project that will stop close to Playa Caracol.
With Las Olas, you’re set to own in a country in the midst of an incredible multi-decade upswing. One sign of this are the incredible new infrastructure projects being rolled out across Panama.
Top of this list is Panama’s new rail project, which will run right across the country from Panama City to the border with Costa Rica.
The Railway Secretariat kicked off their first official team meeting on Monday, January 27. It was attended by Railway Secretary Henry Faarup, Panama’s President José Raúl Mulino, folks from Aecom (the experts overseeing the project), plus teams from the Land Authority and Environment Ministry.
President Mulino spoke to the significance of the project. “This train isn’t just our biggest project—it’s our most important one,” he announced. “It’s all about connecting the country and helping develop all those areas along the route.”
According to Railway Secretary Faarup, banks in South Korea and Europe are engaged in talks to offer funding, while banks in England have already signed a memorandum offering around $6 billion. Even the World Bank has expressed interest in backing the project.
This project demonstrates that Panama has the confidence and credit rating to think big. What’s more, international banks and investors are betting serious cash on Panama’s future.
The railway is just one of the big infrastructure projects Panama has undertaken over the past decade or so. Other major infrastructure projects include…
- An investment of around $920 million building Terminal 2 at Tocumen International Airport, officially inaugurated in 2019. Today Tocumen International is regarded as “The Hub of the Americas.”
- More than $4 billion invested in a city-wide Metro system in the capital. The Metro continues to be expanded and will soon connect Panama City with La Chorerra, a satellite town to the west of the city. This is expected to involve a further $2.5 billion investment.
- A third bridge over the Panama Canal (the Atlantic Bridge) was opened in 2019 costing approximately $680 million.
- A third set of locks at the Panama Canal was completed in 2016. This $5.25 billion dollar investment allowed super tankers and mega container ships known as Neo-Panamax vessels to pass through.
And as I say, there are other major projects underway. A coastal highway will provide faster travel between Panama City and nearby beaches, like Playa Caracol. A fourth bridge over the Panama Canal is around 40% complete.
A new artificial reservoir is being discussed, to ensure the Panama Canal has a reliable source of water during the dry season. Early estimates suggest this project will cost at least $2 billion.
Put all this investment together and it paints a picture of a country on an incredible upward trajectory.
El Valle de Antón Recognized by UN Tourism
El Valle de Antón is an easy drive from Playa Caracol and enjoys springlike weather all year.
Two of Panama’s most beautiful locations, El Valle de Antón and Portobelo, have been recognized by UNESCO as being among the world’s best rural tourism destinations.
El Valle de Antón, sometimes called Anton Valley, is nearby Playa Caracol.
The awards came from the UN Tourism’s “Best Tourism Villages” program, which started back in 2021 to boost rural tourism. In 2024, more than 260 destinations around the world applied, with just 55 making the cut. Panama grabbed two of these spots.
Jorge Correa from the ATP (Panama’s tourism authority) who was at the awards ceremony, said “This isn’t just about winning an award,” he said. “It shows how our communities are working hard to keep their identity, history, and natural beauty alive.”
El Valle de Antón is nestled in an extinct volcano crater, and at 2,000 feet, it enjoys springlike temperatures year-round. Whether you’re hiking the La India Dormida mountain, soaking in hot springs, exploring the Sunday market, or zip-lining through the jungle canopy, the mountain air keeps things fresh.
It’s the perfect weekend getaway, and as an owner at Playa Caracol, it’s right on your doorstep.
Panama Tourism Plans
Panama’s government wants to attract more tourists. Great news for owners at Playa Caracol, the best community on the nicest beach close to Panama City.
Panama’s new government is making moves to boost tourism.
The 2025-2029 Government Strategic Plan shows the government hopes to attract more than 1 million additional tourists annually.
This ambitious plan demonstrates just how serious Panama is about growing its tourism industry. By way of context, Panama had 2.4 million tourists throughout 2024. If Panama achieves its goal it would mean a 41.6% tourism increase.
Great news for owners at Playa Caracol who got in ahead of this trend.
The government plans to increase tourism by:
- Building new infrastructure and improving existing public services.
- Diversifying tourism with an emphasis on nature tourism, cultural tourism, rural tourism and agritourism. There will be further investment to strengthen medical tourism and traditional beach tourism.
- Promoting a sustainable tourism gameplan: New tourism initiatives will be created with the environment in mind.
The Strategic Plan will continue to focus on the StopOver program which offers free airport layovers in Panama City, with the goal of attracting more than 200,000 visitors annually.
Panama Tourism 2024 Roundup
Image Source: iStock. Panama City was named the Best Leisure Destination in Latin America and South America.
Panama City was named the Best Leisure Destination in Latin America and South America.
Here’s a snapshot of what made 2024 a special year for Panama’s flourishing tourism industry.
- Panama City was crowned the Best Leisure Destination in Latin America and South America by Global Traveler’s Leisure Lifestyle Awards.
- As I mentioned earlier, two of Panama’s hidden gems, Valle de Antón and Portobelo, caught the eye of the UN World Tourism Organization, earning spots among the world’s 55 best rural destinations.
- Tonosí, a beach town in Panama, made it into National Geographic’s prestigious 100 Nights of a Lifetime Visit Tonosí in August and September you can see tens of thousands of turtles hatching. It’s an incredible sight…but you don’t need to go to Tonosí to see turtles. They also nest along the beaches close to Playa Caracol.
Looking ahead, Panama’s stunning Chiriquí region, close to the border with Costa Rica, has been named one of Lonely Planet’s must-visit destinations for 2025.
Finally, the revamped Panama Stopover program was named one of the 10 Best Airline Stopover Programs for 2025 by Business Traveler. It’s estimated that around 150,000 tourists used the Stopover program in 2024.
That’s all from me. I’ll be sending a new update from Las Olas soon. In the meantime, remember that you can reach out to me and the team at info@smartmoneyhomes.com with any questions.
Yours sincerely,
Viviana
