Panama BusinessWeek in Review

• CHEVRON Announced Investment of $13 million in Expansion of Bahia Las Minas, Colon, Panama storage capability: storage capacity now 840,000 barrels of oil, projection of up to 4 million barrels of oil storage capacity.
• LONDON REGIONAL (L&R) announced plans of moving fast forward with 400 hectare development in Howard , Panama called “Panama Pacifico” a favorable non tax Industrial zone for foreign investment. This Multi Million dollar investment is along with the Panama Canal expansion, Ports terminals expansion, and the real estate and financial markets boom fueling the continued growth of the economy.
• Panama Ministry of Tourism - IPAT, announced that TOURISM GROWTH 11.9% first trimester 2008, that’s 46,278 more tourists than same period 2007, totaling 435,536 tourist arriving into Panama January - March 08.
• MICROSOFT in Panama- Rick Rashid, VP of Microsoft Research visited Panama for Technology Summit and Panama launches “connected to Knowledge” program for making computers and technology available to over 700 public schools in Panama.
• Panama leads Latin America for second consecutive year in Foreign Investment with $825 million in 2007 which represents 10.5% of the Countries GDP. Higher than Brazil, Mexico, and Chile in relation to DNP. Panama came in overall 8th place in total foreign investment for Latin America.
• The Panama Superintendent of Banks reports a $306,9 million+ GAIN in profits for first trimester 2008, compared to same period in 07. Banks reported a + 33.6% GROWTH in deposits. Savings grew + 17.8%, commercial credit grew 21.5%, consumer financing grew 16%. “This reflects that Panama banks are not experiencing recession like their counterparts in the U.S. and other International markets, on the contrary Panama seems to be experiencing a positive impact” stated Panama banking industry experts.
• Gas Prices on the Rise, Flew Past the $4.10 price per gallon mark.
• Mexican company ICA announced that they will be building two Islands off the coast of Panama City, In Punta Pacifica called “The Santa Maria” 103,249 m2, & “The Pinta” 87,552 m2- These Residential islands will be the size of KEY BISCAYNE with the exclusivity of “STAR ISLAND” in Miami; price per lot start at $2,500 per m2 = $2,0002, 500. These Exclusive residential properties will be sold by Bids on Friday, June 23, 2008, delivery is projected for 2011-2013, DEPOSIT of $5,000 Required. Read More>>

Investments Tips:

While crime in Panama is relatively low in comparison with Costa Rica and other countries in the region, In a HOT Fast Paced Business market like Panama the possibility for White Collar Crimes is something you always need to WATCH OUT!

When you desire for REAL ESTATE shopping or the Impulse buy arises-
ALWAYS WORK ONLY with a LICENSED REAL ESTATE Agent. Licensed Real Estate professionals have to adhere to a code of conduct and ethics. I have seen circumstances where NON Licensed people provide the Wrong Advise and at the end, it will cost you MORE MONEY, and You are risking yourself and vulnerable pray of fraudulent white collar crimes.

1) NEVER get involved with unlicensed real estate advisors, ALWAYS ASK FOR LICENSE!

2) NEVER transfer money into someone’s account without a signed Promise to Purchase agreement stating these payments terms, signed by the Titled owner of the FINCA or property.

3) NEVER sign documents without reading and remember translated docs only

Spanish version is bound legal. Get a second opinion from a licensed professional.

4) NEVER BUY without confirming Titled ownership, and that property is clear of any/all liens and loans- this can be confirmed on-line at the Registro Publico.

5) NEVER Buy under pressure. Sleep on it. The deal will be just as good tomorrow or after a few days of verifying information of the property and parties involved.

6) IF Buying from a Master Plan concept, ALWAYS ask for APPROVED MIVI (Panama ministry of Housing) signed, “sealed of approved” Master Plan, Get the Ante-Proyecto number. Note: Only government approved plans can be promoted and sold.

Selling or promoting Real Estate in Panama without a license is illegal, so if someone engages in an illegal activity by promoting to you without a license, How far will their illegal activity go? Licensed real estate agents have a driver license photo size ID issued by the Ministry of commerce and the Panama technical real estate board with their name, license number, and expiration date.

BEST BUY of the Month

RANCHO PEDASI gated BEACH community

Beautiful Playa El Toro in Azueros, Pacific Coast of Pedasi

lots for residential development, 929 m2 lots / 9,996 square feet

Minutes walk to Beach, Price $50k. RESERVE NOW $5,000 , 85% owner financing

30% down, 2 years 0% interests payments, 2 years NO PAYMENTS.

BUY BACK Guarantee!!!

Pedasi, Azueros is on the Pacific coast of Panama, one hour flight

From Panama City, 4 hours drive. It is a World popular Surf destination.

Whale watching, Sea turtles sanctuary, Isla Iguana natural Reserve.

Coming Soon: Condo units with Ocean views.

Exclusive Listing Available ONLY at www.ThinkPanama.com

PRE-View Master Plan

“SOLD for $2,320,000.00!” Panama Government Real Estate Auctions.

Panama Government is now offering Closeout Auctions on Real Estate Property owned by the State. This is Available for first time Ever, on Government owned property. This is property they confiscate from Drug Busts, Islands previously owned by Drug Lords, and I was informed that the Beach home of Ex Panama Strongman Manuel Noriega in Playa Blanca will soon be available on the Auction Block. In their first auction held May 14, earlier this month they SOLD an entire building in a very Prime location for $2,320,000.

The government of Panamas Ministry of Economy and Finance , MEF, has created a new division: The Real Estate Promotions division. Their goal is to sell off at closeout prices in Liquidation auctions all government owned property with full clearance of Title and deeds.

The law prohibits them from outright selling the property without holding a Public Auction.

PROPERTIES COMING SOON to AUCTION: Islands, Beaches, City Land.

We will provide a list of Auction Properties, Dates, and Requirements on www.ThinkPanama.com Business Vertical or sign up to Panama Weekly

TOP PICK: GATED Community

Bocas del Toro Marina Development PRICE GOING UP 15%,

We CLOSED a SPECIAL 30 day OFFER:

ThinkPanama.com Exclusive offerSAVE $20,000

Reserve unit with only $5,000.

Panama is Ranked No. 2 in the World in Hotel Occupancy 84.7% in 2007, no 1 is Perth, Australia with 85.1%, and number 3 is Dubai.

As I have written in previous Blogs PANAMA represents a HUGE opportunity for CONDO Hotels Investments.

The Ministry of Tourism announced a 20,000 room deficit, NOT ENOUGH HOTEL ROOMS in PANAMA. And did I mention that Tourism grew by 11.6% in the first trimester and is projected for MORE GROWTH? READ our next article: “Investment VALUE” The Time is Now!

INVESTMENT RM3 lot FOR SALE: San Francisco, Via Israel, 5 blocks West of Multi Plaza Mall

990 m2 , 10,652 sq. ft., RM 3 HighRise Zoning, Pacific Ocean views from 3^rd floor upwards.

Price: $1,600 per m2 , $1,584,000 , Negotiated: 12 months payment plan, 3 consecutive months NO PAYMENTS $150k down to sign Promise to Purchase agreement and LOCK DEAL.

Business Profit: Three ways to TURN Profit. Quick from: 12 months to 24 months.

1) Flip Sale in 6-12 months at $2,000 per M2 which is going price in this RM3 type lot in San Francisco. QUICK Profit: $396,000

2) Design Condo Hotel Tower Master Plan & Construction Plans with MIVI approvals for a 74 unit condo Hotel and TURNKEY FLIP Approved for $3.5 million,

QUICK Profit : $1,916,000.

3) In est. 24 months: Build-Out Condo Hotel Tower, Sell units x 74 units: $21,506,00 million in Sales, Rental Income Profit at 60% occupancy: $1,300,000 per year.

For Detailed Business Plan & Complete Investor Business Plan Package Go To www.ThinkPanama.com Business Vertical, or write: dchoy@ThinkPanama.com

These terms for Purchase of Property is available for next 20 days, expires: May 30,2008.

• INVEST IN PANAMA Workshop with Experts:

June 20, 2008. We will be hosting a FREE Invest in Panama Workshop with Roundtable of experts. You will be able to meet with Experts of ALL areas: Legal, Taxes, Offshore Investments, Asset Protection, Real Estate, and Special Backdoor & CLOSEOUT Discounts from developers. QUALIFIED INVESTORS ONLY.

• Explore PANAMA & Invest Land Package: $699 p.p. Includes:

4 days / 3 nights, 5 Star Hotel, Breakfast, VIP Airport Arrival: No lines No Hassles,

Airport transfers, Transportation in Panama, Investment Workshop, Property Tours,

Panama Canal Locks visit & Dinner. And If you BUY, It’s FREE!

• NEW Multi Level Referral Alliance Program

ThinkPanama.com pays you for Referrals of Family & Friends that buy. Our program has two levels: direct referral = $1,500,

Second level: a friend of someone you referred buys, you get $500. No license required.

Wanted U.S. , Canada, Spain, U.K., Sales Referrals Partners. Contact me directly:

dchoy@ThinkPanama.com U.S. (407) 641-5747, In Panama + 507.260.4000

• NEW on www.ThinkPanama.com you can VIEW LIVE International ARRIVING & DEPARTING FLIGHTS
• NEW on www.ThinkPanama.com you can VIEW

MOVIES schedules for a Theater near YOU.

Douglas McArthur Choy is Chief Editor of Panama Weekly, Founder, President & CEO of Think Panama, Inc., and ThinkPanama.com , Founder & Chairman of the board of Global Branding Group, and a licensed Panama Real Estate Broker and member of ACOBIR, Member of AMCHAM, American Chamber of Commerce, and the Camara de Comercio, Industrias y Agricultura de Panama- Panamanian chamber of Commerce. He is an alumni graduate of the University of Central Florida in Orlando with close to 20 years of solid track record in the U.S., Latin America, and Asia Pacific Global markets.

Welcome to ThinkPanama Lifestyle a Panama weekly blog, About Panama Real Estate Properties & Investments Opportunities, Money, Business News, Health care, Weekend Getaway & Travels in Panama, Entertainment and Living a better Lifestyle in Panama.

Pulse of the Week:

• 3.6% inflation in first 3 months of 2008
• Supermarket Food prices up 15%
• Average Local Mortgage Interest rate: 3.07%
• Avg. Auto loans interests rates: 8.69%
• Unemployment Rate : 6%
• Current Hotel occupancy rate: 80%+
• Gas Prices at the Pump this week: Premium Diesel: $4.08 , Premium: $4.11, $99 to fill up my car this weekend.

Watching your Wallet:

• Panama Business Travel tip:Do not Rent a cell phone. Purchase a cell phone unit, they run between $49.00 -$89 depending on model of your choice. In any of the malls you will find the two main cell phone providers: Movistar and C&W Movil ; buy a 10.00 prepaid calling card, insert the minutes, normally they have promotions for doubled or tripled the minutes. You can run for a week from this Panama cell phone and receive calls from U.S., Canada or anywhere. Anytime you come to Panama you simply re-activate by buying minutes.
• INVEST IN PANAMA Workshop with Experts: On Thursday, June 12, We will be hosting a FREE Invest in Panama Workshop with Roundtable of experts. You will be able to meet with Experts of ALL areas: Legal, Taxes, Offshore Investments, Asset Protection, Real Estate, and get first hand Special Discounts from developers.

http://www.thinkpanama.com/business/articles_business/70/free-invest-in-panama-interactive-workshop

• Special Explore PANAMA Land Package: $999 for TWO , Includes:

4 days / 3 nights, 5 Star Hotel, Breakfast, VIP Airport Arrival: No lines No Hassles, Airport transfers, Transportation in Panama, Investment Workshop, Property Tours, Panama Canal Locks visit & Lunch.

This Week in Panama Business:

• Cost of Electricity-utilities up to $400 per megawatt as of April 2008, Up from $203 per megawatt in April 2007. Higher demand, and cost of diesel among factors.
• Tourism designated as the “Goose with the Golden egg” for 2008: Tourism grew +14.1% in 2007, and +23% growth in income generated from this sector. Canal Expansion, Construction Boom, Financial markets boom, real estate boom, and influx of tourism and foreign investment from Europe, Spain, Russia, and Turkey, fueling sustained growth in 2008.
• Panama is living what is described as a “Golden Age”, Economic growth in 2007 was 11.2%, highest in the region. Experts are projecting 4.5% in the region for 2008, While Panama is projecting 8% growth. In comparison U.S. had 2.2 in 2007, and is projected at +1.9% in 2008.
• Panama Social Security program is evaluating getting into Banks game of offering Mortgage Financing except at higher interests rates of 7 per cent for 30 years . Some Private Banks oppose this move. Is this any indication of how HOT the real estate market is? Sources say they are allocating $50 million for mortgage lending.

The FACTS on New Hotels To Be Built in Panama.

New Hotels To Be Built total: 1,906 rooms in the next 3 years. One of the biggest concerns in the tourism industry in Panama is shortage of hotel rooms in Panama City. The following was shared with Nancy Hanna and Fidel Reyes, a top Bern hotels executive, research of Hotels in - construction for the next three years in Panama scheduled to open by 2010. This is still way below the 20,000 room deficit that the Minister of Tourism Ruben Blades announced. This is the main reason why you will hear me talking a lot about CONDO HOTEL INVESTMENT OPPORTUNITIES in PANAMA. DEMAND is much, much higher than SUPPLY, and it ain’t getting ready anytime soon.

• 134 Rooms The Holiday Inn at Clayton City of Knowledge
  Opening March 27, 2008
• 103 Rooms The Radisson Summit Golf And Resort
  Opening April 2009
• 80 Rooms being added to The Panama Marriott; 376 total, Opening late 2009
• 125 Rooms The Le Meridian Hotel
  Opening June 2009
• 128 New Rooms adding to Courtyard by Marriott; 248 total
  Opening fall 2009
• 800 Rooms Megapolis Condo-Hotel
  Opening late 2009 First phase
• 300 Rooms Renaissance Panama
  Opening late 2010

Outside Panama City:

• 134 Rooms The Bristol Buenaventura
  Opening December, 2008
• 102 Rooms The Radisson Colon 2000 Hotel and Casino
  Opening April 15^th, 2009:
• Total: 1,906 New Rooms in 3 years, not counting the 800 condo-apart-hotel units.

Condo Hotels that you can BUY NOW! And make Great Return on Investment.

THE PLAZA, Costa del Este, A VERY HOT CONDO HOTEL INVESTMENT: http://www.thinkpanama.com/realestate/properties/1/115/p2

This condo hotel The Plaza - has an option where you are guaranteed 10% return on rentals annually for 5 years, that’s $19,000 per year of income. Including during the construction phase. You buy now, at my price: $190,600 ($3,000 below reg. price $193,600), in a few months prices will go up 10%, that means it is going up by $19,360, add my discount = your unit in a few weeks will be selling at $212,960. In weeks you will have already made = $22,360.

This is a very upscale 5 Star ocean view 150 room condo hotel & 44 Exclusive Residences located in a Panama City, in Costa del Este, just 15 minutes from the International airport, 45 minutes to Pacific coast beaches, 20 minutes to Johns Hopkins Punta Pacifica Hospital, and the ultra hip Multi Plaza Mega Mall with the World’s top fashion specialty boutique brand stores like Cartier, Hugo Boss, Fendi, Carolina Herrera, Lacoste, Mont Blanc, supermarket, and restaurants. The Plaza is Residence and Condo Hotel with contemporary design. The development will offer state of the art technology, wireless internet, interactive intelligent lobby with online concierge service, health center, Business center, Infinity pools, waterfalls, International restaurants, sky lounge, and exotic amenities such as a Luxury 100 foot yacht that takes condo owners and guests to the beautiful Pearl Islands Contadora island every day, seven times per week. Famous celebrities like Enrique Iglesias, Justin Pasek (Miss Universe 2003), Salsa super star: Gilberto Santa Rosa, and the lead singer for MANA, one of Latin Americas favorite rock band. One of the features of this condo hotel & residences is the SKY-BEACH at the roof top with view to the Pacific Ocean. The current Pre-Sale price on the 473 sq. ft. Plaza Condo Hotel units is $193,600, For a limited time I can SAVE you $3,000 off that list price to $190, 600.

Real Estate BACKDOOR BARGAIN BUY of this issue:

Not many people are aware that the Panama Government is now offering Closeout Auctions, Available for first time Ever, on Government owned property. This is property they confiscate from Drug Busts, Islands previously owned by Drug Lords, and even the Beach home of Ex Panama Strongman Manuel Noriega is on the Auction Block.

The government of Panamas Ministry of Economy and Finance, MEF, has created a new division: The Real Estate Promotions division. Their goal is to sell off at closeout in Liquidation auctions all government owned property with clearance of Title and deeds.

The law prohibits them from outright selling the property without holding a Public Auction. I spoke to the Director of this new division, Mr. Ricardo Icaza. He has been hired by the Ministry of Economy and Finance as a consultant to set up and run this new division for the State.

Let me know if you have an interest for these properties on auction? dchoy@thinkpanama.com

Panama beaches among the Hottest beaches of Central America according to MSNBC article

http://www.msnbc.msn.com/id/24314955/ “The appeal of Central American beaches is an offbeat and organic sexiness that blends together visitors of varied ages and economic backgrounds”

Mariano Rivera, Panamanian Yankees Pitcher named “DHL Delivery Man of the Year Award”His eight saves in the first month of Baseball season 08, has his effectiveness rate at 0.00%

Make Ca$h by Referring Friends & Family

ThinkPanama.com has launched their Friends & Family Referral Program Make CASH $1,000 - $1,500 for each person that you refer that buys property from ThinkPanama.com, and if a friend that you referred, refers a friend (up to three levels of referrals) that buys, you ALSO make up to $1,000,

Call + 507.260.4000, U.S. (407) 641-5747, register: info@ThinkPanama.com

• What would you like to know about Investing in Panama? Ask and I will answer.

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