$106 million Residential Development


News from Panama / Monday, June 5th, 2017

On a 32-hectare site in San Miguelito, Panama, plans are underway to build a housing complex consisting of 920 homes, two water treatment plants and recreation areas.

According to CentralAmericaData‘s Construction Project Identification System, the promotor Desarrollos Inmobiliarios del Golf (DIGSA) submitted an Environmental Impact Study (EIA) in March this year to build a residential complex within the Brisas del Golf community, in the district of Rufina Alfaro, district of San Miguelito, province of Panama.

The EIA indicates that “… the project, called GOLF GARDENS, includes a residential development in an area of 32 hectares + 1,006.84 m2, the future project proposes constructing nine hundred and twenty (920) housing units, which will have an access gate, perimetral fence, public use area, sidewalks, internal streets, recreation areas, green areas and the construction of two wastewater treatment plants. These homes will have bedrooms, a dining room, entrance hall, bathroom, kitchen, terrace, laundry, and parking spaces.”

“The project visuales the complete development in seven phases or stages, each with variations in the number of houses, due to the objective of accommodating the project’s economy to the distribution of costs and the conditions of the land itself and development of the financial flow; however the promoters will try to build an average around 132 houses approximately for each phase. Eventually the project contemplates the construction, sale and delivery of 920 homes for residential use.”

Estimated investment: $106 million.