British Company Develops
Former US Base in Panama
Panama - British
company London &
Regional Properties has
begun transforming a
former U.S. air base in
Panama into a
residential and
commercial complex.
The us$700 million
Panama Pacific centre
will include 20,000
homes and 11 million
square feet (1 million
square metres) of
commercial space. The
40-year project is
expected to create
40,000 jobs.
President Martin
Torrijos said Thursday
at a ribbon-cutting
ceremony that the
project shows Panama can
still attract foreign
investment despite the
global economic crisis.
Howard Air Base closed
in 1999 as Panama took
over control of the
canal from the U.S.
Panama is in the midst
of a real estate boom.
Developments include
Donald Trump's us $400
million high-rise
casino-hotel.
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