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Thursday, April 17 2014 @ 02:46 AM EDT

Single Family Homes with Ocean Views, less than 30 Minutes from downtown Panama City

Real Estate Three Bedroom Homes with stunning Pacific Ocean Views located less than 30 minutes from downtown Panama City. The ocean view homes will be constructed on terraced lots which are roughly 663 to 706 m2 in size. Each lot boasts unobstructed views of the Pacific Ocean, islands of the Las Perlas Archipelago (Pearl Islands) as well as ships waiting to transit the Panama Canal. The homes are currently under construction and will consist of a kitchen, living room, dining room, 3 bathrooms, 3 bedrooms plus an additional maids room all on one level. Each of the 8 homes in the development is being constructed to take full advantage of the gorgeous views. (more)

The ocean view residences will be delivered with all major appliances, including ac / split units, refrigerator, oven, washer and dryer, and water heater. Also the homes will have fine finishes included custom made hardwood cabinetry, and granite or corian counter tops. The pre-construction price for home and lot are currently starting at 299,900.

  • * Lot # 1: $299,900 (Upper terrace)
  • * Lot # 2: SOLD (Upper terrace)
  • * Lot # 3: $299,900 (Upper terrace)
  • * Lot # 4: $299,900 (Upper terrace)
  • * Lot # 5: $299,900 (Lower terrace)
  • * Lot # 6: $299,900 (Lower terrace)
  • * Lot # 7: SOLD (Lower terrace)
  • * Lot # 8: $299,900 (Lower terrace)

The social area of the private development will feature a small swimming pool, and BBQ area with Bohio.

This project is being developed by IDC Panama, Inc. Development, Panama's premier single family home builder in Majagual, Coronado and Gorgona. The founders of IDC Panama have been building homes in the United States since 1983, and have built over 2000 homes.

Property Details:

  • Province: Panama
  • Area/Town: Panama West
  • Location: Majagual
  • Sale Price: $299,900
  • Rent Price: N/A
  • Property Type: Single Family Home
  • Bedrooms: 3
  • Bathrooms: 3
  • Construction Area: 215 m2
  • Total Area: 663 - 706 m2

About Majagual: Majagual is a fishing town located just 20-30 minutes from Panama City.

Pros for investing in Majagual:

  • The real estate in this area of Panama offers beautiful ocean views and beach frontage within a distance of the city that can be commuted daily. The drive ranges from about 20-30 minutes to downtown Panama, and only 10-15 minutes to get to Balboa, Panama which has just about everything one could need or want for everyday living including shopping malls, domestic airport, full scale grocery stores, pharmacies, video rentals, vet and medical clinics, and post offices.

  • Former US Howard Air Force Base which is located just in front of the area of Majagual, and former Rodman Naval Station recently received approved legislation to become a free trade zone for the Pacific

  • The real estate located along the West Bank of the Panama Canal, was not available for any type of development until the Panama Canal was turned over to Panama in the year 2000. Given the geography and current growth of Panama City, along with the breathtaking views of the Pacific Ocean and Panama Canal, and the proximity of the real estate along the West Bank of the Panama Canal to Panama City, it is inevitable that this area will soon prove its worth as a real estate investment.

  • The first of the developments to go up along this precious strip of real estate, is a Resort area on the road to Majagual, about 5 minutes from the actual area of Majagual. The resort is was built by InterContinental Hotels Group (IHG), the world's largest and most global hotel company, and Empresas Bern, Panama's largest hotel and tour group operator.

Cons for Investing in Majagual:

  • The road to Majagual though paved and fairly well maintained, does have the occasional pothole. Also, it is a curvy road and unlit during the night.

  • To get to Majagual you must drive through the fishing village of Veracruz. Like most fishing villages Veracruz is comprised of quaint, simple homes.

Related News:

MIAMI (BUSINESS WIRE)--Oct. 18, 2004-- Located On A Former U.S. Military Recreational Beach, InterContinental Playa Bonita Resort Will Be an Addition to IHG's Luxurious Resorts across the Globe InterContinental Hotels Group (IHG), the world's largest and most global hotel company, and Empresas Bern, Panama's largest hotel and tour group operator, today signed a letter of intent to develop the InterContinental Playa Bonita Resort.

The hotel, located on a former U.S. military recreational beach, will be an addition to our region's existing InterContinental Hotels resort properties in Mexico and the Caribbean. Ideally situated on the Pacific Ocean, less than three miles from the Panama Canal, 15 minutes north of Panama City, the eco-friendly, self-contained resort includes 300 beautiful ocean view guest rooms, and numerous amenities which combine the first-class elegance of the InterContinental brand, within a resort ambiance.

It is the third such alliance between IHG and Empresas Bern, who developed and owns mixed-use complexes that include the Miramar InterContinental Panama and the Holiday Inn Hotels & Suites Panama, both in Panama City. "Herman (Bern) is a man of extraordinary vision," says Alvaro Diago, Area President InterContinental Hotels Latin America. "He is always one step ahead of most of us - he knows how to create a future, both literally and figuratively speaking. This is our third venture with his organization, and the most exciting yet."

As an addition to our luxurious resorts across the globe, the InterContinental Playa Bonita Resort will use internationally acclaimed properties, like the InterContinental Resort Bali in Indonesia as a model hotel. "This property brings together the best elements of both companies," adds Bern. "We have always been proud of our involvement with IHG, as their brands lend unparalleled global recognition. At the same time, we have clearly established a niche in our region as an organization with extraordinary development capabilities. There is unlimited potential when two companies like ours are working together to develop a property." The resort, which is scheduled to open in the first quarter in 2007, is part of a master plan that includes a residential component, boasts almost two miles of virgin beachfront, and is situated on a natural crescent bay bordered by natural reserves. "It is truly one of the most beautiful and pristine environments in the world today," concludes Bern. "We are confident that it is a property that will earn international acclaim."

Contact Information: For more information about these homes please send an email to pg@panamarealtor.com.




Rendering of exterior of one of the model homes...
















An aerial view of the project. This photo gives a good idea of the surrounding areas, and distance of the project from the ocean.


This photo gives a great perspective of the terraces lots.


A view of the homes currently under construction. These photos were taken September 2007.







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