The Panamanian government has been examining the possibility of handing over the area to a master developer, as was done successfully with the area of the former Howard base.

The Administrative Unit of Reverted Areas (UABR in Spanish) at the Ministry of Economy and Finance has among its available assets, the Sherman base, an area of great commercial potential.

In order to advance the process of awarding former U.S. base in a concession, the UABR has ruled out the existence of any legal proceedings concerning the administration of these lands, comprising 266 hectares, of which 140 are developable and the rest are wooded areas.

According to an article in Prensa.com “The next step is to determine the format to be used for Sherman’s development. The Government is studying the possibility of giving the area to a master developer, as was done with the Howard base, or to develop the 140 acres separately. What is certain is that the state needs to invest about $14 million in order to create the public infrastructure required by the development.”

The executive secretary of the UABR, Juan Carlos Orillac, said “there are 3 consortia, backed with Panamanian capital, interested in investing in the area which has the greatest potential for tourism in the country.”

Source: Prensa.com