Faros de Panama to Light up the Horizon: PanamaReals.com Announces Launch of World's Tallest Tower

Construction on the world's tallest residential building began this month with Los Faros de Panama, a $600-million dollar project in Panama City, and PanamaReals.com is proud to offer its clients access to this exciting venture.

(PRWEB) October 28, 2006 -- One of the world's tallest residential buildings began its dizzying climb skyward as the first stone of Los Faros de Panama was laid in Panama City this month.

Rising like crystal shards over the waterfront, the postmodern design by celebrated UK architectural firm Chapman Taylor features three glass towers in Punta Pacifica, one of Panama City's most exclusive neighborhoods.

The 84-storey central tower will top out at 346 meters (1135 feet), well above what is now the world's tallest residential building, the Q1 Tower in Queensland, Australia.

The staggering $600 million price tag also marks it as one of the largest real estate developments in Latin America, as developers jostle to take advantage of Panama's growing reputation as an investment and retirement haven.

Panama City in particular is the site of more than 100 high-rise projects under way thanks to its modern infrastructure and low cost of living, including Donald Trump's latest venture, the Trump Ocean Club International Hotel and Tower (http://www.panamareals.com/newdevelopment/Trump-Ocean-Club).

Spanning more than three hectares (eight acres), Los Faros de Panama will include some 2000 luxury residences up to 142 square meters (1530 square feet), and a five-star, 300-room hotel.

Grupo Mall, the Spanish consortium behind the ambitious development, held to its standard of environmentally-conscious construction, using recyclable materials, and wind and solar power to supplement energy needs. The mixed-use project also features a waste treatment plant, and an automatic household waste and recycling collection system.

Additional facilities include a health care center, shopping center, casino, spa, gymnasium, open-air auditorium, cultural center and more than 7000 parking spaces. For more details visit http://www.panamareals.com/newdevelopment/Faros-De-Panama.

A $5 billion project to expand the Panama Canal was also given the green light this week (http://www.panamareals.com/news/index.php?news_eventsID=37&month=), intensifying the focus on the tiny Central American country. The decision, taken by national referendum, is expected to attract further investment and further kindle the thriving dollar economy.

With its warm climate and stunning beaches, high-quality health care and rich incentives program for retirees, the focus will undoubtedly remain on Panama for some time to come.

About PanamaReals:

PanamaReals is a fully licensed broker and developer in the Republic of Panama. With more than 50 years of combined real estate experience, our management staff providing clients with the best real estate investment opportunities, beach front properties, vacation getaways and retirement programs.

Our goal is to introduce clients to Panama, considered one of the best places in the world for business, real estate, or retirement, and match them with the real estate investment opportunity that best meets their needs.

In addition, PanamaReals can provide its clients with all legal, immigration and visa services required to secure their investment and achieve the level of residency in Panama that they desire.

Our company has 3 locations to serve you, in the USA, Canada and Panama. Visit www.panamareals.com for further information.

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