Businessmen are looking to districts such as Arraiján and La Chorrera, as the improved connectivity brought by the Fourth Bridge over the Canal and Metro Line 3 will bring a wide range of business opportunities.

These districts, in which considerable growth is expected in the next few years, currently remain among the main areas attracting investment in the construction sector, since according to figures from the Comptroller’s Office, between January and July of this year, the costs of new works, additions and repairs reported in La Chorrera and Arraiján, totaled $79 million and $58 million, respectively.

See CentralAmericaData‘s “Real Estate Project Feasibility Studies.”

The growth of the constructions executed in the last years has been reflected in the increase in the number of vehicles that circulate in the sector, since in West Panama, between 2014 and 2018, the units that transited grew by 39%, going from an average of 20,338 to 28,278.

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In terms of public investment, the Panamanian government has several challenges, because according to medium-term projections, demographic pressure will increase in the area, which will generate an increase in the demand for basic services.

Elisa de Gómez, executive director of the National Council of Housing Promoters (Convivienda), told Martesfinanciero.com that “… Based on the growth of Arraijan and La Chorrera, it is unacceptable that services have not been improved. It is essential for the State to catch up. The relevance of West Panama is equated with that of San Miguelito for construction. These are the areas of greatest real estate development.”

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Adriano Ferrer, municipal engineer of the district of La Chorrera, said that “… We have more people living here with the same street infrastructure and the same schools; there is a water treatment plant that was enlarged in the government of Martín Torrijos, but nobody expected this demographic explosion and all kinds of infrastructure.”

By 2024, it is projected that the Fourth Bridge over the Canal will be ready. It is also planned that Line 3 of the Metro will finish its journey in the City of the Future, in Arraijan. Among the works already underway, the widening of the highway in the area of Arraiján-La Chorrera stands out, which reports a 61% progress.