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Latin America Investment News on Viva Tropical

Panama Ponders Development of Former Sherman Base

Article Summary:

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 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.

Photo Credit: La Prensa

Original Article Text From La Prensa via Google Translate :

Develop 140 hectares of Sherman

The Administrative Unit of undo (UABR) advances in the process of granting of Fort Sherman, in the province of Colon and this ruled out the existence of any legal proceedings concerning the administration of these lands.

According to the executive secretary of the company, Juan Carlos Orillac it was necessary to determine whether there were any legal issues that would prevent development of the area comprising 266 hectares, of which 140 are developable and the rest are wooded areas.

The next step is to determine the schema to be used for the development of Sherman. The Government is considering the possibility of giving the area a master developer, similar to as in Howard, or develop the 140 acres separately.

What is certain is that the state needs to invest about $ 14 million to create public infrastructure that need development.

Orillac added that there are 3 pools Panamanian capital interested in investing in the area has one of the tourist potential in the country.

Link to Original Article:

From La Prensa

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