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New ambitious project underway in Chitré

Cubitá Hotel project
At the Cubitá event this month: Judith Henríquez of Partners Corp, sales and marketing manager of Focus Publications Patricia Puentes, Auri Ayla of Partners Corp and Focus Publications marketing assistant Yulissa Pérez.

Chitre is the capital city of the province of Herrera on the Azuero Peninsula but in effect it is the capital of the entire peninsula, a city growing through investment in agriculture, cattle, tourism and, recently, residential development. An ambitious project in this category is the residential and hotel project Cubitá (when you say it, note the stress on the last sylable) on 12 acres close to the city.

Currently under construction is the Cubitá Hotel, a luxurious 100-room hostelry with many unusual features including a central patio, a chapel and a museum along with the restaurants, pool, event rooms, Gym, sauna and spa. A shopping center adjoins the hotel. Owners of homes on the property will have free membership to the Cubitá Club providing access to all the hotel’s amenities.

The residential section of the property features condominiums and single family homes with two designs on offer which are called Hatillo and Tonosi.

Residents of Cubitá will be joining a community imbued with all the ancient traditions of the country. The Azuero peninsula is the home of folklore and in the towns and villages around Chitre the people celebrate saint days and traditional fairs all the year. The architecture of Cubitá is inspired by the simple and harmonious building styles of the region. The developers point out that tranquility, low cost of living and the friendliness of the people make this area desirable. In fact, the Instituto Conmemorativo Gorgas named Chitre “The best city in Panama to live”.

Tel: (507) 910-1600. Fax:910-1601. www.cubitapanama.com / ventas@proyectoscubita.com.

“Government lies” – cultural defenders

Phase 3 of the Cinta Costera
Photo: Alegre Saporta

The 13 organizations that form the National Front for the Defense and Preservation of Historic, Cultural and Natural Monuments of Panama yesterday warned that “the government lies about phase three of the Coastal Strip [Cinta Costera]” Last Sunday, protesters burned torches on a march through the Old Quarter to demonstrate their side of the story, spelled out on their banner: “Destruction of this World Heritage Site” if Phase 3 of the Cinta should go forward as proposed by the government.

Isthmian Update

Some of the news in Panama

Tourism up 12%
There were 849,499 visitors admitted to Panama during the first five months of 2011. This represents an increase of 12% in the number of visitors arriving via cruise ports, the Paso Canoas border crossing and airports. Tourism income rose $69 million, compared with the same period last year.

Plethora of Constitutional reform proposals
The National Coalition for the reforms to the Constitution has received all kinds of proposals, including a proposal to establish the death penalty and to change the name of the country. Other proposals include holding separate elections every two years for the legislative and executive bodies and to permit the union between same sex couples, the removal of certain privileges of deputies, such as exemption from import duties on luxury vehicles and the removal of the last sentence of Article 35 of the Constitution, which recognizes that the Catholic religion is that of most Panamanians.

Half-way to completing western Panama highway expansion
The work of adapting and expanding to six lanes the Arraiján-La Chorrera expressway is 51% completed, according to a note from the Ministry of Public Works. The work, at a cost of $152.6 million is to improve and change the existing pavement before asphalt and cement is laid, expanding the road to three lanes in both directions, repair four vehicular bridges that are on the road, as well as internal streets in Arraiján. The note said the work will be completed in 20 months.

Public debt projections
In December 2014, several months after the term of Ricardo Martinelli, the public debt of Panama will be $14,852 million, according to projections presented by the Ministry of Finance to update the 2015 financial program. The ministry estimates this administration will have increased the debt by $3,880 million or 35.36% since he took office in 2009, when the public debt closed at $10,972 million.

More news >>

Tocumen is #1
Tocumen International Airport is the international terminal that has the highest passenger movement in Central America, due to connectivity with the rest of the continent. This year about 6.5 million passengers are expected to pass through the terminal, a figure that is going to break records. The general manager of Tocumen International Airport, Juan Carlos Pino, stated that the growth creates additional risks that must be controlled. Pino’s statements are in reference to the heavy traffic of cash and gold which is recorded at the airport.

Good year for CFZ business
This year, 2011, has started on the right foot for the retailers of the Colon Free Zone (CFZ). From January to May this year the value of trade increased by 36.6% compared with 2010. The $10,573 million in revenues are more than twice the growth that took place during the first five months of 2010 compared to 2009, when it grew 12.1%, and 2009 over 2008, with 5.3%.

Unemployment down
Unemployment in Panama fell in the first quarter of 2011 from 6.5% to 5.6%, which puts us near the level of “full employment” in the country, with about 85,720 people unemployed, according to the Comptroller’s Office.

UK ambassador at MEF
Helping to strengthen bonds of friendship and strengthen trade relations between Britain and Panama, the deputy minister of economy, Frank De Lima met with the British ambassador, Michael John Holloway, in the headquarters of the Ministry of Economy and Finance (MEF). The ambassador was accompanied by Matthew Phillips, director for Mexico, Central America and Cuba of the Ministry of Foreign Affairs of the

United Kingdom Bamboo meeting
Leading experts in the cultivation and management of the bamboo industry will participate in the First Central American Bamboo Meeting in Panama from July 19 to 22. Topics include a wide range of topics such as production and management of bamboo cultivation, drying, immunization, processing and marketing for social housing, materials, and utensils.

Single tender for Amador development
The tourist development of Amador is a target of the Government, which discusses the possibility of a single tender for a new convention center and cruise ship dock, both located on the Causeway. For the administrator of the Panama Tourism Authority (ATP), Solomon Shamah, it is a unified process that would be less expensive and faster.

Finca Lérida makes big coffee sale
The Finca Lérida, located in the province of Chiriqui, sold 200,000 pounds of specialty coffee in the United States after attending the coffee fair held in Houston, Texas. The Ministry of Commerce and Industry (MICI) reported that attendance is already coordinated for the coffee fair of Japan scheduled for September.