Archive for the ‘Investing’ Category

Pedasi Tourism, Investment on Upward Trajectory

Posted by admin On March - 9 - 2010

It’s no surprise Panama is currently having a bonanza of a year in tourism. Not only does the country boast pristine beaches, picture perfect rainforests and virtually no travel time between the two, Panama’s transit and telecommunications infrastructures are outstanding. As an affordable, yet exotic place to travel, these modern qualities are placing Panama leagues ahead of other Central and South American vacation destinations.

One region in particular – Pedasi, in the Los Santos province, situated on the Central Pacific coast of Panama — is making significant economic gains as a popular tourist destination. The rich campesino tradition of the Los Santos province, growing corn, sugar cane, rice, coffee and raising livestock, offers visitors a welcome respite from the bustle of Panama City, only about 4 hours away by car.

Idyllic, picturesque, unbroken: these are the words often used to describe the landscape of of the Azuero Peninsula, on whose south end sits Pedasi. The rustic coastline is dominated by rolling fertile hills, which slope gently toward the Pacific. Air temperature never really drops below 74 F and . Visitors often draw comparisons to the South of Spain, or a variant of Tuscany.

Coastal access through Los Santos is well-paved and well-signed, and townships have neatly planned, well-maintained streets. Virtually every town has a point of wireless Internet and one never has to travel too far for a cash dispenser. Coastal architecture is a charming mix beteween colonial Old Spain and the province’s residents take pride in their towns and locals are always inviting of foreigners, even welcoming them into their own homes on occasion.

Pedasi is receiving its fair share of Panama’s booming influx of visitors. Panama’s Tourism Authority notes a steady growth of about 200,000 more annual visitors a year; and tourism in the country is expected to peak at about 2 million visitors in 2010. Because tourism makes up about 12% of Panama’s GDP, and because Panama uses the US dollar system, Panama’s been able to safely ride out the international recession.

“Panama’s yet to make its tourist mark, but it’s something that’s happening quite fast,” said the General Administrator of Panama’s Tourism Authority, Salomon Shamah. Though Mr Shamah’s expectations are still a ways away from being reached, he said foreign investment and infrastructure are two factors which are contributing enormously to the country reaching its goals.

Toward that end, Mr Shamah and the Ministry of Tourism celebrated the inauguration of scheduled Aeroperlas flights into Pedasi, which are expected to generate a significant rise in tourism activity, and further attract investment into the area.

Located at the tip of the Azuero Peninsula, Pedasi is a veritable tourist playground. One can go hiking, birdwatching, sport fishing, sailing, surfing, kayaking, snorkeling, and scuba diving. The nearby capital of Las Tablas is famous for its traditional carnival parties, annual fiestas with a rich history dating back more than 200 years. With crime rates being some of the lowest reported nationwide, foreign investment in the area is on the rise. Along the coast, a number of luxury developments — both residential and tourist — are in final stages of completion, including Andromeda Ocean Estates, a spectacular beachfront community just minutes from the town of Pedasi.

As one of the most desireable beach towns in the region, Pedasi is growing at a strong, yet controlled pace. With a regional landing strip, internationally-acclaimed surf breaks, and world-renowned sport fishing, Pedasi is presenting itself as the “it” destination of Panama’s Pacific.

With the new 7-8 year, $5.4 billion Panama Canal expansion plan approved, a spike in investment in the area will soon be seen — not only in Pedasi but across the entire Azuero Peninsula. Retirement and eco-tourism investment opportunities are presenting themselves on a daily basis in the region.

Pedasi, The Eden of the Famous

Posted by admin On February - 22 - 2010

Paris Hilton and Michael Jordan are some of the celebrities that have visited Pedasí. In the capital city, we have seen Mick Jagger and Julio Iglesias.  Everyone knows them and any one would do the impossible to get a photograph or autograph from them. But precisely this is not happening in Pedasí, Province of Los Santos, and that is what is appealing for the celebrities.

In this town, Paris Hilton, Michael Jordan, Mick Jagger, Arnold Schwarzenegger, Mel Gibson, Angelina Jolie, Brad Pitt and Prince Maximilian of Liechtenstein with his Panamanian wife Angela Brown can swim, take a walk and eat as any other tourist visiting the area, without being bothered by paparazzis, fans or the locals.

“Look at that gringo” is what the residents of Pedasí say when they observe a Caucasian with blonde hair and light-colored eyes, without minding if he is famous or not. For these persons, they are just foreigners on vacation, enjoying the amazing landscapes and beautiful beaches.

In spite that these famous persons have been seen by the villagers, who quickly narrate where they stay, what they eat, the owners of the hotels, restaurants and bakeries supposedly visited by them will not confirm this information, maybe to preserve the confidentiality of their services. And this is precisely what the celebrities want.

A folkloric town, the town of the same name of the District of Pedasi, Province of Los Santos, is a folkloric town, and its residents are simple and very inviting persons.

In this town, celebrities go to the Bakery Yely and a restaurant named Isla Iguana, named after the famous island that can be reached from this coast. In this restaurant, Paris Hilton had for breakfast scrambled eggs, while Mel Gibson waited two hours to be served as any other client. “(Gibson) he was like any other client. Sat in the terrace with a book, climbed his legs on a chair. Spent all the afternoon here and no one bothered him. He was unnoticed as any other regular customer”, commented a staff member from the restaurant, who also said that a year ago Woody Allen sat in the same restaurant where Hilton had visited a few months before.

“I am not so sure it was him (Allen), because that day I had a lot of work and could not affirm it, but in my opinion, that was Woody”, he said. He affirms that what attracts actors to the beaches of Pedasi, specially Isla Iguana, is precisely that residents don’t mind about them.

“They come here because they are unnoticed. People here maybe don’t know who they are”, affirmed the informant for whom these famous persons look like “a normal, common gringo”.

Visits without a trace, when Angelina Jolie and Brad Pitt visited the Canopy Lodge, there were no photographs, no visitors’ books signed of the hotel located at El Valle de Antón. “It was an exclusive one-hour visit, they were alone in the hotel and were only attended by a waiter who served them wine and cheese”, said a source from the place who confessed that during those 60 minutes, no one was in their post.

He declared, “They wanted to relax, not be bothered”.

During that hour, Jolie and Pitt were in the bird observation area. However, another informant near the hotel said that the actors stayed two nights at the Canopy Lodge and that the only one directly taking care of them was the owner of the lodge. “Among their activities during their stay in Panama, they visited the Canal and the Biodiversity Museum at the Causeway”, he specified.

But Angelina and Brad are not the only ones who love to be untraced. Michael Jordan has traveled several times to Pedasi, and to this date there are no photographs of his visits. A resident told how the basketball player took a photograph with her, but the athlete has the evidence of said moment. “Not only actors come here, also politicians of any party and even presidents and vice-presidents, many people come here”, revealed the lady.

Special neighbors, some comment that the Colombian singer Shakira and the vocalist of the Rolling Stone, Mick Jagger, have also visited Pedasi. Other say that the actor and governor of California, Arnold Schwarzenegger has been seen fishing at Isla Iguana.

But all villagers do agree that celebrities stay at Villa Camilla and Casita Margarita.

“The administrators of the hotel pick them up and bring them. They (the famous) come dress with normal clothes, like another tourist in town”, stated a resident, who confessed seeing from afar a property whose owner is the renown designer, Carolina Herrera. “I have seen the house and a guard told me that she was the owner”, he said.

Mel Gibson and Michael Jordan are also mentioned as some of the celebrities having purchased properties. However, a source related with Villa Camilla made it clear that the basketball player still has not acquired a residence.

“(Jordan) has been here three times, his last visit was a year ago. He has no property, but rents a house directly from the owners”, admitted a source and added that the sportsman loves “the climate, the beach and fishing more than anything”.

According to this person, Angelina and Brad also visited this hotel in Pedasi, “I even understand that they came to see some property projects”.

Prince Maximilian of Liechtenstein frequently comes to this lodge, where he enjoys “dining and cocktails”. The Prince loves this place so much that he already has a property, according to the informant.

The Capital City, some prefer to relax in the beaches, while others love to enjoy the city life, as is the case of the Spanish singer Julio Iglesias. Some time ago he was seen at the Sheraton Hotel and his visit was unnoticed.

“I was in the hotel and he passed by like any other person, I remember he was dressed with white thread pants, “said Mélida Trujillo, promoter of Gilberto Santa Rosa.

The Merengue singer, Eddy Herrera loves very much the Panamanian capital city, so much that – according to his representative, Jimmy Dawson – he would like to buy a home in Paitilla or Costa del Este.

“He loves gourmet and native food. When he comes to Panama, he meets with his close friends to play golf. He also loves resort type hotels. Once he went to Decameron and was fascinated”, emphasized Dawson, who also represents the Dominican singer, Sergio Vargas.

“On the other hand, Sergio prefers more pasta and seafood. He enjoys very much peacefulness and to share with friends. Enjoys smoking some Havana cigars, drink wines and eat cheese”, he stated.

Dawson indicated that Vargas prefers visiting the outskirts of the city were the climate is cooler and there is more vegetation. He added, “Once he went to the carnivals of Dolega and Chitre, and he was delighted with the cool climate and the highland environment of Chiriqui”.

The famous Brangelina duo also set foot in Panama City. The actors stopped at a gas station in Balboa Avenue, “They were buying bottles of water like any common person, they were alone, no bodyguards”, stated a source, who also says having seen in the Panamanian streets Mick Jagger and the granddaughter of the famous American writer, Ernest Hemingway, Mariel Hemingway, who came to Panama to film a documentary.

Story Translated from Prensa:  Anahil Trómpiz Torres

Pedasi’s First Vacation Community

Posted by admin On January - 14 - 2010

Featuring spacious lots fronting two pristine, sandy beaches, this 40-hectare project offers spectacular views right on the Pacific Ocean, just ten minutes from the charming town of Pedasí.  The community will house extensive recreational facilities, with basketball, volleyball and tennis courts, a community pool and children’s playground, as well as a business and commercial center.

With a beach club onsite, homeowners can take advantage of the abundant sport-fishing in the coastal waters — known as the ‘Tuna Coast’.  Yellow-fin tuna, marlin, mahi-mahi, wahoo, sailfish, snapper and more ride the deep ocean currents that run close to shore here, making the area ideal for light-tackle enthusiasts.

Small breaks on the project’s two beaches allow kids to hone their surfing skills, while Playa Venao, just thirty minutes’ drive westward, offers a more serious challenge for dedicated surfers; its consistent beach break goes left and right, attracting surfers from all over the world.

Facing Andromeda is Isla Iguana, an island nature with powdery soft white beaches, thanks to an extensive coral reef surrounding the island, which houses a myriad marine species at just a few feet’s depth.  The island is a favorite haunt for scuba divers and snorkelers, or families looking to spend a day lazing in crystal-clear aquamarine waters.

Nearby, Isla Cañas can receive hundreds of pregnant turtles in a single night to lay eggs along its 14-kilometer long beach.  A little further afield, the Cerro Joya National Park offers hiking through pristine rainforest, with several waterfalls, monkeys and hundreds of birds species.

A Blend of Old World and Cutting Edge

Posted by admin On January - 14 - 2010

Despite the old-world, natural setting, the modern world is still very much present.  Surfers can be seen hunched over laptop computers and fresh-blended smoothies at a local café in Pedasí town.  The infrastructure is in excellent condition, thanks in no small part to former Panama President Mireya Moscosa, a Pedasí native who gave back to her community.

“The infrastructure in Panama is very different from the rest of Central America,” agrees Mr Rudas.  “Roads are in place, well lit, signposted.  Everything here is big business, high luxury.”

In many ways, he and his partners believe the current economic crisis will do a great deal to boost Panama’s profile. With stock markets so volatile, many investors are looking for more stable investment vehicles, and turning to land as a valuable resource in finite supply.

“And out here, it’s this perfect combination of weather, activities like sport-fishing and surfing, and necessary modern amenities, that makes Pedasí such an ideal setting,” he adds.  “I really believe in this area, and in Panama.   Life here is a dream.”

Pedasi Cost of Living

Posted by admin On January - 14 - 2010

The cost of living in Pedasi Panama is lower than the US and much lower than Western Europe. For example, electricity costs approximately 10-12 cents per kilowatt hour depending on the area, water and trash collection costs around $7 per month.

A full-time, live-in maid will cost approximately $150 per month. A taxi will charge $2 to virtually any destination within reason, and a North American style cinema will cost under $4. An afternoon at the beauty salon will run approximately $8 and dinner at the most luxurious restaurant (including appetizers, drinks, sides, and tip) will cost approximately $50 for two.

Direct TV, telephone and internet services vary according to the plans chosen. Direct TV with a wide choice of English language channels is approximately $50 per month. Locally produced vegetables, meat and fish are priced considerably lower than in the USA although imported items may be slightly higher.

The minimum wage for housemaids or gardeners is 88 cents per hour. Local beer at the supermarket costs 50 cents per can, a coffee in a restaurant may be as little as 50 cents.

Panama currently has an undervalued real estate market; however as has happened in countries like Costa Rica, Mexico and Ireland, prices are beginning to rise as more people discover the advantages, benefits, and distinctive quality of life Panama offers.

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