Known for their amazing beachfront properties, Panama will now undergo a major transformation, thanks to the city's president, Ricardo Martinelli. He has decided to spend $300 million on the 'Ocean Reef Islands' project.
Headed by Ingenieros Civiles Asociados and Grupo Los Pueblos, the exotic 'Ocean Reef Islands' will consist of two artificially made islands with approximately 200,000 square meters of space for beautiful luxury home development. These islands will also be connected by a 160 meter bridge.
$300 Million Faux Islands
Ocean Reef Islands Project Will Transform Panama City Beach Front
Trend Themes
1. Artificial Island Development - Opportunity for real estate and construction industries to innovate with eco-friendly methods for creating self-sustaining artificial islands.
2. Luxury Home Market Expansion - Challenge for the luxury home industry to create unique and high-end designs that incorporate sustainability and technology.
3. Tourism and Hospitality Growth - Innovative hospitality and tourism opportunities for companies to create custom experiences centered around the unique environment of Ocean Reef Islands.
Industry Implications
1. Real Estate - Opportunity for real estate developers to cater to eco-conscious and high-end buyers looking for unique properties.
2. Construction - Innovative construction methods and eco-friendly designs are needed to support the development of self-sustaining artificial islands like Ocean Reef.
3. Hospitality and Tourism - Luxury and custom hospitality experiences can be developed by companies looking to attract high-end clientele to the unique environment of Ocean Reef Islands.