Panama is one of the fastest growing International destinations for foreign residents, snow birds, active retirees, and real estate investors. What concerns me is how much the real estate is booming in Panama and what are we doing to conserve our ecosystem. The economy is growing and the construction sector is the main engine of growth. Glimmering office towers and glamorous apartment blocks are sprouting out of the poverty stricken, filthy slums that sit along the Pacific coastline. Property investors are snatching up newly built apartments (pre-construction) because it’s lower in cost. Panama City's waterfront is starting to resemble the skyline of New York with a flare of South Beach. The new facilities are being built for the hundreds of new companies that are expected to arrive in Panama to participate in the mega construction project and the new trade opportunities that lie ahead. Many global companies are expressing interest in Panama.
What about sustainability? What happened to going green? The Panama Green Building Council is part of the World Green Building Council, a global union of national councils around the world to become the largest international organization influencing the market for green building. Panama GBC’s mission is to promote sustainability in the way communities are conceived, and buildings designed, built and operated.
Panama needs more green buildings. We need sustainable luxury communities, designed to integrate the comforts of modern life with nature’s luxuries. I was very concerned when I first moved to Panama almost 4 years ago with all of the construction going on. Now that I am aware of what Panama has to offer I feel confident that we are on the right track to living more environmentally sustainable lives. Using sustainability to make money favors both supply and demand as well as the ecological necessities.
Sources-
Sustainability Handbook : The Complete Management Guide to Achieving Social Economic and Environmental Responsibility
Blackburn, William R.
Blackburn, William R.
Carrie, Thank you for your thoughtful reflections. Do you know if anything is being done to slow down the construction? Are there any limits to the number so new buildings or hotels that can be built?
ReplyDeletePatrice
All I know is that much of the high-rise construction has stopped due to cost overruns and what many locals claim are money-laundering schemes. I tried looking for information on whether or not limits existed in Panama but I couldn't find anything. There has to be limits, I'm sure; whether or not construction companies abide by those limits is a different story. It seems like money is above the law here. I found an interesting article written a few years back but at least you can get an idea as to where the mind of developers were.
ReplyDeletehttp://www.nytimes.com/2008/01/30/realestate/30iht-repan.1.9613885.html