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.