Trump enters partnership for first cengral American resort project
The Trump Organization and K Group, a premier high-end resort developer in Panama, have entered into a partnership to develop Trump Ocean Club, International Hotel & Tower, in Panama City.
The 1.8m ft2, $220 million project will feature a 65-story condominium tower with approximately 300 hotel condominium units and an additional 500 residential condominium units, an international casino, and private beach club on Contadora Island. The Trump Ocean Club will also feature other amenities including a yacht club and pier, spa, state-of-the-art gym, pool deck, full-service meeting and event spaces, and a business center.
Roger Khafif, President of K Group, commented, "The Trump Organization is committed to realising in Trump Ocean Club, a one-of-a-kind, best in class, destination for living, working, boating, and shopping in Panama. No other property in this rapidly growing and desirable region can compete with the Trump signature brand and their level of world-class amenities and tenants."
Other partners involved in the project include the Colombian commercialising company Espacios Urbanos S.A. and Colombian construction firm Arias Serna y Saravia S.A.
The development is being built on a beachfront lot majestic views of the Pacific Ocean and the Panama Bay, in the premier and upscale district of Punta Pacifica.
Punta Pacifica is one of the newest and most exclusive areas of Panama City, bordering the financial centre and the residential area of Punta Paitilla, on land that was reclaimed from the sea.
It is linked directly to the rest of the city by the new highway called "Corredor Sur" that guarantees accessibility to any area, including the airport, in less than 15 minutes.
The project is expected to be completed by 2009.
www.trumpoceanclub.com
