Trump Ocean Club International Hotel and Tower
Encyclopedia
Trump Ocean Club is a mixed-use, 70 floor, sail shaped development in Panama City
, Panama
of Real estate
developer Donald J. Trump of the Trump Organization
and Mr. Roger Khafif, President of the K Group (a Panama
resort developer) projected to cost $400 million. As planned, it will be a 2900000 sq ft (269,418.8 m²) waterfront condominium
tower development. The project is scheduled to include 369 hotel condominium units, 700 condominium units, 1500-1700 parking spaces, retail shops, casino, use of a private beach club on Pearl Island, yacht club and pier, wellness spa, gym, pool deck, meeting and event spaces, and a business center. This is the Trump Organization's first real estate investment in Central America
.
The Trump Ocean Club, Panama, is being built on a beachfront lot with views of the Pacific Ocean
and the Panama Bay
, in the district of Panama
on the area of Punta Pacifica. Punta Pacifica is a developing area on a peninsula that extends into the Pacific Ocean, bordering the financial center and the residential area of Punta Paitilla, on land that was reclaimed from the sea. It is linked directly to the rest of the city by the new highway called that guarantees accessibility to any area, including the airport, in less than 15 minutes, although heavy traffic on the can sometimes mean longer journey times.
The hotel opened July 6, 2011.
On September 21, 2011, it was indicated by Bloomberg.com that Fitch Ratings downgraded $220 million in bonds that Newland International Properties, Corp. is using to finance construction of the Trump Ocean Club in Panama.
Fitch downgraded the debt to CCsf from B-sf, citing “continued uncertainty over the willingness and ability” of buyers to take possession of apartment units, Fitch said in the report.
8.9755561°N 79.5071742°W
Panama City
Panama is the capital and largest city of the Republic of Panama. It has a population of 880,691, with a total metro population of 1,272,672, and it is located at the Pacific entrance of the Panama Canal, in the province of the same name. The city is the political and administrative center of the...
, Panama
Panama
Panama , officially the Republic of Panama , is the southernmost country of Central America. Situated on the isthmus connecting North and South America, it is bordered by Costa Rica to the northwest, Colombia to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south. The...
of Real estate
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
developer Donald J. Trump of the Trump Organization
Trump Organization
The Trump Organization is a limited liability corporation conglomerate based in Trump Tower in Manhattan, New York. The organization owns, operates, and develops hotels, resorts, residential towers, and golf courses in different countries, as well as owning several pieces of high-end real estate in...
and Mr. Roger Khafif, President of the K Group (a Panama
Panama
Panama , officially the Republic of Panama , is the southernmost country of Central America. Situated on the isthmus connecting North and South America, it is bordered by Costa Rica to the northwest, Colombia to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south. The...
resort developer) projected to cost $400 million. As planned, it will be a 2900000 sq ft (269,418.8 m²) waterfront condominium
Condominium
A condominium, or condo, is the form of housing tenure and other real property where a specified part of a piece of real estate is individually owned while use of and access to common facilities in the piece such as hallways, heating system, elevators, exterior areas is executed under legal rights...
tower development. The project is scheduled to include 369 hotel condominium units, 700 condominium units, 1500-1700 parking spaces, retail shops, casino, use of a private beach club on Pearl Island, yacht club and pier, wellness spa, gym, pool deck, meeting and event spaces, and a business center. This is the Trump Organization's first real estate investment in Central America
Central America
Central America is the central geographic region of the Americas. It is the southernmost, isthmian portion of the North American continent, which connects with South America on the southeast. When considered part of the unified continental model, it is considered a subcontinent...
.
The Trump Ocean Club, Panama, is being built on a beachfront lot with views of the Pacific Ocean
Pacific Ocean
The Pacific Ocean is the largest of the Earth's oceanic divisions. It extends from the Arctic in the north to the Southern Ocean in the south, bounded by Asia and Australia in the west, and the Americas in the east.At 165.2 million square kilometres in area, this largest division of the World...
and the Panama Bay
Panama Bay
Panama Bay is a large body of water off the coast of southern Panama, at . It is a part of the greater Gulf of Panama....
, in the district of Panama
Panama
Panama , officially the Republic of Panama , is the southernmost country of Central America. Situated on the isthmus connecting North and South America, it is bordered by Costa Rica to the northwest, Colombia to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south. The...
on the area of Punta Pacifica. Punta Pacifica is a developing area on a peninsula that extends into the Pacific Ocean, bordering the financial center and the residential area of Punta Paitilla, on land that was reclaimed from the sea. It is linked directly to the rest of the city by the new highway called that guarantees accessibility to any area, including the airport, in less than 15 minutes, although heavy traffic on the can sometimes mean longer journey times.
The hotel opened July 6, 2011.
On September 21, 2011, it was indicated by Bloomberg.com that Fitch Ratings downgraded $220 million in bonds that Newland International Properties, Corp. is using to finance construction of the Trump Ocean Club in Panama.
Fitch downgraded the debt to CCsf from B-sf, citing “continued uncertainty over the willingness and ability” of buyers to take possession of apartment units, Fitch said in the report.
External links
8.9755561°N 79.5071742°W