The CEO of Grupo Los Pueblos, one of the most important real estate development companies in Central and North America, inaugurated one of its most anticipated “battle horses”: the launching of artificial islands. One with 72 lots and 10.3 hectares and another with 66 lots on 8.7 hectares of new territory. The challenge in the construction of these islands located in front of Panama City is clear: replicate them in Latin America.
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Ocean Reef is the first private residential community built on two artificial islands in the Pacific Ocean. It is located across the coast of Panama city, the first project of its class in Latin America. It will provide 2 helicopter pads, a marina for 200 boats of different sizes and a yacht club. Both residents and club members will have access to a marine supply store, a gas station, snorkeling activities and equipment rentals. The marina will open in 2019 and F3 Marina will be in charge of administration
Currently under construction by Grupo Los Pueblos, Ocean Reef Islands will soon become the first man-made residential islands in Latin America. Consisting of Islands 1 & 2, at 103,251 and 87,552 square metres respectively, the Ocean Reef Islands project will together form a luxury real estate development like nothing of its type ever conceived in Panama City.
On Sunday 12 April Dutch Prime Minister Mark Rutte visited the artificial island constructed by Boskalis off the coast of the Punta Pacifica residential area of Panama City. Following a guided tour of the island the Prime Minister, together with Mike Eman (PM of Aruba), José Isabel Blandon (Mayor of Panama) and Claret Connor (Minister of Tourism of Saint Martin), placed the first stones for a second island to be built by Boskalis.
Royal Boskalis Westminster N.V. (Boskalis) has been awarded a contract from Compañía Insular Americana, S.A. to construct a second artificial island off the coast near the residential area of Punta Pacifica in Panama City. This project follows the successful construction of the first island by Boskalis, which was handed over to the client in early 2013. With a contract value of more than EUR 55 million the project is scheduled to commence in the course of the second half of 2015 and is expected to last for two years.
The Dutch Prime Minister Mark Rutte placed the foundation stone for a second artificial island set to provide high-end housing for Panama City’s rapidly expanding population.
The two artificial islands, located off the coast of the Punta Pacifica coastal residential area, are being developed by Dutch firm Royal Boskalis Westminster to meet rising demand for luxury homes. Panama is experiencing rapid economic growth, buoyed by a booming financial sector and its population increasing in affluence and size at equal pace.
The Dutch Prime Minister Mark Rutte has placed the first stone for an artificial island to be constructed by Royal Boskalis Westminster off the coast of the Punta Pacifica residential area on the densely populated shoreline of Panama City.
Panama City – Two artificial islands are being created by millions of cubic metres of specially relocated rock and sand off the densely populated coastline of Panama City. These, the first man-made islands in Latin America, will be home to 138 luxury properties when completed, and even a yacht marina. They will be linked to each other and to the mainland by two 160 metre long bridges.
Our new full page coming out in Ocean Home September & October issue Panama’s Paradise, Ocean Reef Islands debuts off the coast of Panama.