The urban development in Panama, consists on a project that, since 2013, seeks to prepare the country for population growth og upcoming years, to work infrastructure improvements and existing areas.

“The project is implemented by the order of $20 billion and the plan covers all urban areas of the Pacific and Atlantic.”

urban development in Panama

Urban Development in Panama – Gogetit Highlights

  • The urban development in Panama consists of a project with an urban planning strategy for 25 years to influence the infrastructure of these areas for better development.
  • The project has been developed since 2013, but the current administration will be responsible for updating the document to continue the plan.
  • This plan for urban development in Panama includes, among other things, sanitation, storm drains, electrification, infrastructure, communication, roads, transportation system and potable water.

Recently, Deputy Minister of Land Management, Juan Manuel Vasquez, reported that in Panama, is being invested a billionaire sum of money for urban development of the capital city. “The investment for this plan is 20 billion dollars, to bring everything that the city lacks in the area of ​​infrastructure in general,” Vasquez said.

“The project is developed since 2013 and the current administration is about to complete the update of the document, which will provide the State modernization of the mechanisms needed to keep growing.”

A study published earlier this year by the Inter-American Development Bank (IDB), states that in the next 35 years, population growth in the city will increase by one million inhabitants, so it is needed to prepare for that scenario.

Many people from different parts of the world, choses Panama as their country of residence, as there are great advantages in real estate investments, mostly. For this, it should be prepared and offer improvements and modernization in regard to infrastructure, transportation system and economy, among other factors.

urban development in Panama

That is why, last January, the Mayor of Panama presented an urban development plan for the capital city community boards and civil society groups. The mayor of the district of Panama, Jose Isabel Blandon, said that the problems of the city have been reported, due to improvisation and real estate growth pressure.

“The actions of the plan, ranging from the implementation of facilities for mobility and transport, to a better land use, require more than three billion dollars.”

The Metropolitan Plan, is projected until 2035 and aims, among other things, discourage the use of cars, looking for more space for pedestrians, and to achieve positive exchanges working together with private enterprise.

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Silvia Merida Pellicer
Gogetit Content Manager. Author of important reviews for Gogetit News, “The #1 Source for real estate news in Panama.”
Specialized in the search and analysis of the most important news about real estate in Panama.