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Latin America Investment News on Viva Tropical

Tocumen Airport: $400 Million “Aeropolis” Mega City is Slated to be Built on 300 Hectares

Article Summary:

A mega city is in the works for Tocumen Airport. “Aeropolis” is slated to be built on 300 hectares recently purchased by Tocumen SA for the amount of $109 million. It will consist of commercial, hotel and hospital infrastructure, representing an estimated $400 million in investment funds.

Photo Credit: Panama Tourism Authority

Original Article Text From Panama Tourism Authority via Google Translate :

Tocumen Project Attracts 11 Companies

The complex will take place on the globe of 300 hectares Tocumen, SA purchased from the University of Panama for $ 109 million.

After completion of the North Pier, the city airport “Aeropolis” and the South Pier and Terminal projects are listed on the agenda of Tocumen, SA, with an investment of approximately $ 750 million.
For commercial infrastructure, hotel and hopitalaria of “Aeropolis” requires about 400 million dollars, while for the South Terminal Pier and $ 350 million earmarked.

Although not know all the details of the project “Aeropolis” which will take place in the 300 hectares Tocumen, SA bought for $ 109 million to the University of Panama, the number of companies interested in setting airport in the city increases month to month.

Until the end of 2011 had come seven chains, a firm of health and at least three companies with experience in managing shopping centers, confirmed the manager of Tocumen, SA, Juan Carlos Pino. Among the hotel chains have expressed interest in locating in the area are Decameron, Hilton, Sheraton and Marriott.

In the case of hospital, Pino said that in recent years health tourism has been a significant increase in the country. It also plans to build a business and convention center, and storage areas.

Negotiations between Tocumen, SA and the University of Panama is in its final stage, lacking only the demarcation of the land. Pino said the government, in this case Tocumen, SA, will invest to condition the soil with the installation of basic services (access, energy, water, telecommunications) and then to private sector construction sites for periods of 20, 30 and 40, depending on the activity to be installed in the area.

The administration decided to venture into this project, because the rent and concession areas represent an important source of revenue from the terminal, as happens today with the duty free, said the manager of Tocumen, SA to improve the input and to the airport, the project also included a new access from the South Corridor will facilitate entry to the new extension, as well as the current terminal.

South Terminal
In the case of the south terminal, the increase in the number of passengers every year pass through Tocumen € -6 million 2011 – was the trigger for the administration to advance the work of expansion in the passenger terminal.

The master plan for 2012 envisaged the start of construction of a replica Pier South Pier North, while for 2015 were projected early work from the South Terminal, a new building which will have facilities of Immigration and Customs.

Now join the two projects into one contract, representing an investment of 300 million and 350 million dollars. Besides the construction of the new terminal also will create new parking spaces and revised the river Tocumen.

The new terminal would have 25 boarding gates and give the necessary capacity to handle Tocumen than 15 million passengers.

Link to Original Article:

From Panama Tourism Authority

Latin America Investment News on Viva Tropical