This post is also available in: Spanish
By: Staff at POLS Attorneys
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New CasaCasco Concept in Casco Antiguo. A new trend in commercial buildings has come to Panama. A group of expats from Italy, Spain, and Venezuela joined a Panamanian family in forming a company called CasaCasco which bought a $2.7 million historic building in Casco Antiguo on Avenida A which was operating as a hostel for backpackers.
It took 18 months to restore the building. The first challenge was what to do with the five floors. The easy solution was to have a hotel and a restaurant, but that would be just another of many in Casco Antiguo. An idea emerged of offering a multi-entertainment complex with three restaurants, a disco club, and a terrace bar with a fantastic 360 degrees view of Ancon Hill, Panama Bay, and the city skyline.
Unlike other commercial investments, this is not just a building owner leasing to different restaurants. The owners of the disco club and restaurants are partners operating their respective businesses under one roof.
After a $3 million restoration, CasaCasco opened its door in September of 2016. The ground floor contains the Mano de Tigre restaurant offering casual fusion cuisine. According to owner Frank Escalona, “It is a proposal of tapas, fish, seafood, meats and a pastry of avant-garde”. Some of the mouth watering dishes include, “ceviche of whitefish with passion fruit sorbet, steak tartare with smoked heart of palm, pork tacos with guacamole.”
The first floor contains the Nacionsushi restaurant offering Asian and fusion cuisine. Its open bar offers unique drinks created by Tiger Rodriguez, such as the Yasai Vodka containing a macerated vegetable served with paprika which is refreshing. Another is the Daiquiri Nation made with cucumber.
The second floor features the Marula restaurant with African décor. Its Spanish chef, Daniel Pozuelo, offers local products fusion foods presented with flowers and herbs for a colorful tropical touch.
The disco club is on the fourth floor and the terrace which gets large crowds on weekends requiring a crowd control entrance keeping the capacity full, but not crowded.
This new trend can provide higher profits for each partner who owns their premises instead of paying expensive leases. However, due to the nature of Panama laws regarding partnerships, real estate, building permits, and food & beverage permits; consult with a Panama law firm knowledgeable of these complex laws.