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Trump JV Plans $220M Mixed-Use Project in Panama

NEW YORK CITY-A joint venture comprised of the Trump Organization and K Group plans to develop Trump Ocean Club International Hotel & Tower, a 2.4-million-sf mixed-use development in Panama City. The $220-million project is expected to come on line at the end of 2009.

By Barbara Jarvie | Updated on April 24, 2006

NEW YORK CITY-A 2.4-million-sf mixed-use development will rise in Panama City, according to its developers—a joint venture of the Trump Organization and K Group. The effort has a current price tag of approximately $220 million.

The Trump Ocean Club International Hotel & Tower will feature a 65-story condominium tower with 500 condominium units and 312 hotel condominium units. There will also be a casino, private beach club, 24-hour marina, among other amenities. The project will be built on an artificial peninsula on the Panama Bay, with total land area of 140,000 sf. Plans also call for more than 1,500 parking spaces.

The development coincides with Panama’s plans for an approximately $5.5-billion improvement of the Panama Canal, K Group president Roger Khafif pointed out during a press conference announcing the project. The just-announced Canal plan still must meet voter approval. Khafif said as many as 30,000 US citizens currently call Panama home and there are more than one million tourists each year.

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