Most of the Panama Real Estate hype is about hotels, condos, homes, and land for sale. In the towns outside of Panama City, especially the beach and mountain areas within 90 minutes from the city, there are multiple large shopping centers, malls, and grocery stores under construction and opening soon.
This past year, the Coronado Mall was introduced across from the El Rey supermarket at the entrance of Coronado. The new Coronado Mall has a food court, Super 99 Grocery Store, dollar store, surf shop, and more.
Right across the street from the already existing 2 strip malls in Coronado is a brand new shopping center called “The Village.” “The Village” will be opening in 2011 and will be featuring 77 retail spaces with restaurants, office space to purchase, as well as some big name stores that will make living full time in the beach and mountain towns from Campana to Penonome much more convenient.
The businesses that have confirmed to be located in The Village are El Machetazo supermarket, a Multibank, KFC restaurant, Don Lee Chinese food chain, The Deli Gourmet, Valentino, a sushi restaurant as well as an organic food store. Grupo Machetazo is a partner of “The Village” which is estimated to cost approximately $15 million in total.
Driving along the Inter American Highway outside Panama City, you can’t help but notice all the new commercial buildings under construction. The increase in these centers will help promote tourism and real estate giving those who enjoy living outside of the city full-time the everyday conveniences they’ve been asking for.