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A press release by PriceSmart of San Diego announced October 1, 2008 that they are acquiring property in Panama City, Panama for a new Warehouse Club. PriceSmart is moving one of its current operations in Panama City to the new location when it is finished in 2009. PriceSmart has and will keep four locations in Panama. PriceSmart sells low cost, high quality merchandise to Panama’s increasingly prosperous and growing middle class.

Panama Business, Investment, and Real Estate

Panama is an ideally located country for business. At the crossroads of the Americas, Panama’s Tocumen International Airport is a major air hub. The Panama Canal links Atlantic and Pacific bringing world trade to Panama’s door step. Panama has the highest per capita foreign investment in Latin America. Panama has a middle class that is increasing in numbers and per capita wealth. These factors have helped keep Panama’s economic growth close to 10 per cent per year for several years.

Panama real estate has been booming for several years. North Americans are generally aware that Panama is a great place to visit and a better place to retire. The high end real estate boom in Panama has had much to do with North Americans buying second home, vacation home and retirement homes in Panama. However, as credit problems in North America and throughout the world have flattened out the surging real estate prices in high end Panama real estate the major part of Panama business, investment and real estate continues to grow.

Panama’s economy is not dependent upon North American tourists and retirees even though Panama does a healthy business in tourism. Panama is tied economically into the economies of Central and South America with free trade agreements and the fact that 40% of Latin American container shipping passes through the Panama Canal. The Colon Free Zone has been receiving goods from around the world, repackaging, and reshipping to the Americas for sixty years. Panama is a medical referral destination for Latin America as many of Panama’s physicians are trained and certified in North America or Europe.

Panama City is about the become the site of Latin America’s first diamond exchange which is banking on the increasing wealth of Latin America’s middle class for its success. Panama mines copper and exports bananas. Panama has an oil pipeline that carries Alaska North Slope oil from Pacific to Caribbean on its way to Gulf Coast refineries. Panama may soon have its own oil refinery at Puerto Armuellas.

Investment in Panama Real Estate

PriceSmart’s investment in Panama is only one example of smart business people investing in Panama business and/or real estate.

You can do business in Panama like PriceSmart and you can invest in real estate in Panama and lease to the likes of PriceSmart. As Panama’s economy grows so does its need for offices, warehouses, parking lots, communication facilities, training centers and much more. Investment in any foreign country can be very profitable. Doing business hands on in a foreign country can be full of problems. A targeted real estate investment or two in Panama can reap great rewards and keep the headaches away.

If you would like more information regarding real estate investment in Panama contact us at ABPanama. We do business throughout Panama and have over 23 years experience managing real estate portfolios.