A high end hotel and housing complex of 70 condos in Panama built overlooking the Pacific in the shape of a sail, will be the tallest construction in Latin America when it will be inaugurated on July 6 by owner, the American tycoon Donald Trump.
“You are in the tallest structure and major project in Latin America, with 284 meters of elevation,” professed with pride Frenchman Thierry Baurez, director of Marketing of the ‘Trump Ocean Club International Hotel & Tower, “as personnel carried out the final highlights.
This is actually the very first hotel in Latin America for the Trump chain. In North America the company has a number of hotels in cities which includes New York, Las Vegas and Chicago, and another being built in Toronto (Canada).
“Trump Ocean Club International Hotel & Tower is Trump’s very first challenge outside of North America,” acknowledged Eric Trump, son of the magnate, on a tour with journalists.
By means of an investiture in excess of $ 400 million, the property will have 37 elevators, health spa, pools, marina, modern casino, shopping centers, dining establishments, an island with a privately owned beachfront club, art displays and a meeting center of 4,200 square meters.
As of the beginning of 2011, ‘The Point’ in Panama City is the tallest building in Latin America at 67 floors and 266 meters, surpassing by 20 meters the ‘Ocean Two’ which finished a few weeks prior.
For years, Mexico’s “Torre Mayor” held the crown as tallest building in Latin America at 225 meters.
The current tallest building on Earth is the ‘Burj Dubai’ in Dubai, United Arab Emirates, reaching 828 meters (163 floors), that opened in 2010.
The Trump hotel, was developed by the Colombian architectural business Arias Serna Saravia, additionally possesses 47 ‘suites’, a veranda in excess of 900 square meters with a swimming pool area oriented towards the ocean, exceptional butler service and two colossal statues by the Colombian sculptor Fernando Botero .
“In a lobby as tremendous as this a Botero sculpture fits properly” expresses Baurez, who also reports they have “sold” beyond 85% of units in the complex, 80% to people from other countries at prices between 250,000 and million dollars.
Among the many anticipated invited guests for the inauguration are artists and possibly even a head of state boasted Baurez, yet he did not divulge any names.
“We are enthusiastic to introduce innovative things here, which have never been in the Panamanian sector,” expressed the son of Donald Trump.
The recent real estate boom has developed the capital of Panama to a ‘mini Dubai’, said a foreign businessman, making reference to Dubai, part of the rich United Arab Emirates on the Persian Gulf, which happens to be well known for its skyscrapers and massive buildings.
The lowest priced hotel room will cost higher than $ 300 per night at the hotel, and once totally in business, will likely operatewith a thousand employees.
“This is our first step inside the Latin American market, that we believe will likely be a significant and robust marketplace for us in the near future,” stated Trump.
His father, 64, sparked the enmity of a handful of Panamanians in March when he was quoted saying in an interview that the United States “stupidly”, gave away “for nothing”, the Panama Canal, in which ended in him being announced persona ‘non grata ‘ by the mayor of Panama City and drew denigration from Panamanian President Ricardo Martinelli.
The real estate entrepreneur and TV figure a short time ago said that due to his “passion” for business, he will not begin a bid for the 2012 presidential election, ceasing months of speculation.
Scott Hancock writes for the Panama Explorer, more resources for Panama Bienes Raices market.
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