PANAMA NEWS:

 

 

Invesments in Colon Increases

 

Besides the construction of new residential projects in Colon, the development of new infrastructure in the Colon Free Zone has boosted the construction industry in the province.

During the first semester of 2010 $10 million were invested in new offices, according to the director of Planning and Finace of the CFZ, Luis Saénz. By the end of 2009 the investments were of $20 million.

The district of Colon has shown more increase in its growth, among the five disctricts of the province. This growth is due to the construction of new offices in the free trade zone.

However, not only the construction of new offices in CFZ is increasing the industry. There are also urbanizations like Leona, in La Cresta, that are moving forward in their construction phase.

Many are projects started developing last year, but the sales of houses is slow, expressed Flor Moreno, from the Office of City Engineering of Colon.

Even the Ministry of Housing and Regional Organization (Miviot in Spanish) has 31 pre-projects of new urbanizations for construction in the atlantic coast, registered.

Most of these projects are meant for the district of Colon.

Facilities and infrastructures like warehouses to store merchandise are under construction as well. One of the projects developed is Coco Solito, a 25 thousand square meters warehousing project, still in its construction phase.

During the first semester, the district of Colon earned $973 thousand, which translates to a 36% growth, compared to the same period of 2009, according to Moreno.

Along the private investment, a great deal of public projects are programmed for the province.

According to the government´s programme, a residential project of $25 million is being considered and a international airport for passengers and freight of $60 million, among other projects included in this Government´s period strategic plan.

 

Source: www.prensa.com