Ocean Reef Man-Made Islands Forming Off Punta Pacifica

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Ocean Reef Project Panama

Projected Ocean Reef Islands Panama

On Punta Pacifica in Panama City, Panama many are quick to point out that the Trump Ocean Club design is similar to the Burj Al Arab hotel and that the Ocean Reef Islands off Punta Pacifica, forming in the Pacific Ocean, bears a resemblance to the Palm Islands in Dubai.

Yes, there are many similarities but one huge difference is that Panama’s economy seems to be holding up much better than the once booming city of Dubai and is continuing to see economic growth and political stability.  This week in Panama, President Ricardo Martinelli helped lay the first foundation stone of the $300mil Ocean Reef Project, a planned series of 3 man-made islands off Punta Pacifica being developed by Groupo Los Pueblos (the same firm that developed the Albrook Mall & the Corredor Sur).

President Martinelli has shown a particular high level of interest in the Ocean Reef island project; it is funded solely by Panamanian capital and will help to boost confidence in other current and potential investors, both domestic and foreign.

An inspiring rendering has been released of the project. Please note that this video is quite idealistic; the reef off the Coast of Panama has suffered from years of pollution but is slowly being restored to it’s naturally beautiful state through a bay clean-up initiative.

httpv://www.youtube.com/watch?v=aiG0b15DJuw

7 Comments

  • Jared D. says:

    Wow, pretty amazing video and ambitious project. I can't even begin to imagine the cost per square meter for a piece of land on one of the islands… Is there anything visible out in the bay yet?

    • Live Invest Panama says:

      Yes, it is a very professionally compiled rendering of the project and I don't think there is any doubt in anyones mind that this is going to be a very expensive place to live – the cost for a lot remains to be released publicly (as far as I know). There is a small island visible off of Punta Pacifica that was built last year and there is certainly a lot of maritime activity in the area with a small crane, dredge, and a few other barges. I will try to photograph the scene in the next few days and post it here.

  • We have been watching the progress on this project. They built one small island and then stopped for a long time. Then we heard a rumor that the project was officially scrapped. The very next day, a new dredge showed up and got really busy.

    We have been out of the country for a couple of months, but are looking forward to seeing how it all progressed. There is no doubt it will be a gorgeous area when it is done. We heard something like 30 million dollar residences were going to be built.

  • Mara Y says:

    Last May I was renting an apartment in Paitilla with a gorgeous ocean view and one day I woke up and there was an island that appeared out of no where. I hadn't heard any news about this project since then until I saw this article. Looks like a pretty ambitious project that will surely bring Panama to the spotlight.

  • kathy t says:

    Wow! This is an unbelievable project – gorgeous!

  • Paula USA says:

    Wow, this project is quite impressive. But it had me skeptical right at the start with the rendering of the wonderful idealistic amazingly seaworld creatures in the water in the first scene. I hope it does get developed in the way that the plans are, and I would more love to see the sea be so clean in that area. Sounds though like it will be very expensive..wish we could buy there! And I really hope the sea area becomes swimmable and more romantic there. The views already are fantabulous.

    Meanwhile, we have a condo with a balcony that overlooks that area, so Im excited to view the progress. With the ships lining up to enter the canal- especially their lovely lights at night, and the Union Club and a great park nearby, its a prime project for sure. Please keep us updated on this.

  • VNY says:

    Hello,
    Does anyone know the current state of these projects?
    Are all the islands completed?
    Also, what was the catalyst for off shore building? Just pure “wow factor” or something more?
    Any advice would help as I am a journalist looking into it for a possible story idea.

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