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ROYAL PALM GETTING READY FOR RESIDENTS, Royal Palm, the twin-towered residential complex under construction in Nueva Gorgona, is currently on schedule and is expected to begin accepting new residents in the first quarter of 2018. Individuals will be able to take possession of their new one-, two- or three-bedroom units as soon as the building occupancy permit is obtained.
“Everything is on track for the building to be completed by the end of December,” said Liz Larroquette, the lead sales agent for Empresas Bern, the real estate company developing Royal Palm. “We don’t have any concerns about the building occupancy permit and all the materials to finish the entire structure are on-site. There will be some very happy people starting the New Year in what are really stunning condominiums.”
The nautical inspired building boasts two towers with 19 and 24 floors, multiple social areas and pools, a fitness center along with a multi-purpose basketball and tennis court. The oceanfront two-bedroom models feature wraparound balconies which look out over the Pacific Ocean. The other units all have ocean views and easy beach access. Designed to mimic the hull of a ship, the towers jut out toward the ocean, while tucked next to mountains, providing stunning views in every direction.
“The elevators are ready to go in as soon as the machine rooms are completed and the emergency generator is installed,” Larroquette said. “Another nice thing about this complex is the rooftop reserve water tank,” she said. “In Gorgona, the area is protected by mountains and located in the ‘dry arch’ so always having access to clean fresh water is a necessity.”
According to Larroquette, the first ten floors are currently being tiled, have electrical cabling and plumbing completed, insulation and balcony treatments are being installed. “The chief engineer on the project said even some of the windows have been sealed, which is often one of the last steps in completing a unit,” she explained.
The residents will absolutely enjoy living here and I’m so excited about it all coming together. It’s actually more beautiful than I imagined when we first introduced this project,” she continued with a slight laugh.
Royal Palm is located on the Pacific Ocean just 50 minutes from downtown Panama City and 10 minutes from the well-established beach community of Coronado. Located within a few minutes’ drive are several grocery stores, a variety of restaurants and physician offices along with a well-equipped clinic.
“You have absolutely everything you need right here,” said Larroquette. “furniture stores, salons, fast-food and casual sit-down restaurants. The local fish co-op is right here with daily catches that have been pulled from the water just hours before. One of Panama’s largest malls is located just down the PanAmerican Highway and yet, with Royal Palm, you are right on the beach and off in another world,” she explained.
“It’s hard to imagine that you have both an almost meditative beach environment, yet are so close to everything to maintain an easy lifestyle,” she said.
“Because there are a wide variety of price points available from $220,000 to the high $400,000s, many units have been sold, but we do have a few side-by-side options still available so larger families can combine the units to increase the residential space,” said Larroquette. “Investors have also been very keen on this project as the units are an attractive option for the booming Panama rental market,” she explained.
“It’s also a perfect way to pay for your retirement home,” said Larroquette. “People in their 30s and 40s are buying units, planning to rent them and make mortgage payments years ahead of their plans to retire. Property values continue to increase and the view never goes away,” she said. “Once you have an ocean view, you always have that view!”
In addition to the finishing touches going into the individual units, the foundations for the pools on the ground and third floors have also been completed. “We are just waiting for the final touches and then it will be a matter of adding some water and waiting for the first residents to jump in, beach ball and all,” said Larroquette. “It’s a very exciting time at Royal Palm.”