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.