Hello owner,
I’m writing to you today to provide an update on the construction of your new condo and development of the Surfside Community, in Playa Caracol, Panama.
As you will see below, the developer has reached some important milestones.
In addition, the path of progress continues its way down the coast from Panama City, towards Playa Caracol and the Surfside community.
Surfside Will be Working With HMS (Hospitality Management Solutions)
This render shows how Surfside could look upon completion. Surfside is true oceanfront real estate, residents can enjoy their morning coffee with a stroll along the beach.
Rental management for Surfside will come via a partnership with HMS, an international company with more than 12 years in the market and more than 25 years as part of a business group specialized in the administration of condominiums and hotel operations.
HMS is a specialist in tourism management and hotel real estate, and has a presence in the Dominican Republic, Panama and Mexico.
As leaders in their field, HMS currently manage more than 3000 properties and are involved with more than 50 projects throughout Latin America.
Developers Construction Update
Construction work at Surfside is on schedule, with the earliest deliveries set for the first quarter of 2024.
I’m happy to report that our Surfside remains on schedule.
We’re expecting the condos to be delivered before the end of October 2024.
This is in line with what we had hoped for. It gives RETA members the chance to take delivery of their new condos in time to enjoy Christmas on the beach. It also allows plenty of time to be ready for the Panamanian summer which starts towards the end of December and runs through until April.
I recently spoke to the developer who has advised me that the light walls have been completed up to level 700 and the wall stake outs have been laid up to level 400. The floors have also been completed up to level 400.
The next stage of work will be to finish the floors throughout the building and start work on installing the windows.
Surfside remains on schedule, and it is expected that the first of the condos will be finished as soon as September 2024.
Work on Surfside Amenities is Underway
As an owner at Surfside you will have access to all the hotel amenities.
Work is underway on the Sports Bar and Restaurant to be situated on the ground floor.
The aim is for both of them to be completed in the first quarter of 2024.
The first of the swimming pools is now complete. Both pools, along with other amenities such as the gym and sports bar have been designed to have ocean views.
The Surf Shack beach shop is expected to open around the same time. Residents will be able to rent surfboards and paddle boards, as well as purchase swimwear, sunscreen, and other beach essentials.
Tourism in Panama is Back at Pre-Pandemic Levels
Tocumen International Airport in Panama, is known as the “hub of the Americas”.
Tourism in Panama has bounced back strongly after the pandemic. The first quarter of 2023 saw 787,000 visitors arriving in Panama. At the time of writing, Panama is on track for more than 3 million visitors in 2023.
A record high.
The recently expanded Tocumen International Airport is a big part of this. More flights than ever before are landing in Panama and new routes are being added.
There’s optimism that Panama can follow in the path of Costa Rica in becoming a major tourist destination for North Americans and Europeans.
Like Costa Rica and Mexico, Panama boasts tropical Pacific and Caribbean beaches. Up in the mountains residents enjoy cooler, springtime temperatures. The array of biodiversity is wonderful.
As well as the spectacular countryside and beaches, Panama has something that no other Central American country has. A genuine metropolis, Panama City.
The bustling capital, with its international airport, city-wide Metro system and an abundance of restaurants and bars is on the way to becoming a global destination.
Panama Is Building New Infrastructure To Better Connect The Country
The new Metro line connecting Panama City with La Chorrera. Easing traffic congestion will make trips to surfside and the surrounding areas even more attractive.
Hit the road in Panama and you’ll see why people are getting excited about the country’s potential. New infrastructure is being built everywhere.
Construction is progressing on the long-awaited Linea-3 Metro line, connecting Panama City with La Chorrera, the satellite town not far from Playa Caracol.
It’s clear that the path of progress is sweeping down Panama’s Pacific coast, bringing new opportunities in its wake.
This new Metro route, which will terminate just a 25-minute drive from Surfside, will make it more convenient than ever before to visit Playa Caracol.
It will be easier than ever for folks to escape the urban jungle and relax on the stunning beaches in front of Surfside.
Best of all, it will be finished soon. The 21-mile monorail line is scheduled for completion in 2025.
According to Rafael Sabonge, the Public Works minister, progress is now more than 27% complete.
World Class Beaches Close to Panama City
The pristine beaches of Playa Caracol where the water is beautifully warm throughout the year.
In a tropical country like Panama a weekend at the beach is one of the country’s favorite pastimes.
It’s why the highway out of the city is bumper to bumper every Friday evening. To speed up this journey, work has started on expanding the Inter American highway, close to Panama City, from 6 lanes to 8.
This highway is the route to Surfside, and the new lanes will allow you and your renters to drive between Panama City and the beachside hotel suites more quickly and easily.
This is great news, because most people visiting Surfside will be driving from Panama City.
That’s all for now. Keep your eye out for my next update coming soon.
