| Trump Ocean Club | |
|---|---|
Trump Ocean Club, Panama |
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| General information | |
| Type | Hotel, Condo |
| Location | Punta Colon, Punta Pacifica, Panama City, Panama |
| Construction started | 2007 |
| Completed | 2011 |
| Cost | US$400 million[1] |
| Height | |
| Antenna spire | 293 m (961 ft)[1] |
| Roof | 284 m (932 ft)[1] |
| Technical details | |
| Floor count | 70[1] |
| Floor area | 252,000 m2 (2,710,000 sq ft)[1] |
| Elevator count | 37 |
| Design and construction | |
| Architect | Arias Serna Saravia S.A. |
| Developer | Espacios Urbanos, K group, Trump Organization |
Trump Ocean Club is a mixed-use, 70 floor, sail shaped development in Panama City, Panama of Real estate developer Donald J. Trump of the Trump Organization and Mr. Roger Khafif, President of the K Group (a Panama resort developer) projected to cost $400 million. As planned, it will be a 2,900,000 sq ft (270,000 m2) waterfront condominium tower development. The project is scheduled to include 369 hotel condominium units, 700 condominium units, 1500-1700 parking spaces, retail shops, casino, use of a private beach club on Viveros Island, yacht club and pier, wellness spa, gym, pool deck, meeting and event spaces, and a business center. This is the Trump Organization's first real estate investment in Central America.
The Trump Ocean Club, Panama, is being built on a beachfront lot with views of the Pacific Ocean and the Panama Bay, in the district of Panama on the area of Punta Pacifica. Punta Pacifica is a developing area on a peninsula that extends into the Pacific Ocean, bordering the financial center and the residential area of Punta Paitilla, on land that was reclaimed from the sea. It is linked directly to the rest of the city by the new highway called Corredor Sur that guarantees accessibility to any area, including the airport, in less than 15 minutes, although heavy traffic on the Corredor can sometimes mean longer journey times.
The hotel opened July 6, 2011.[1]
On September 21, 2011, it was indicated by Bloomberg.com that Fitch Ratings downgraded $220 million in bonds that Newland International Properties, Corp. is using to finance construction of the Trump Ocean Club in Panama.
Fitch downgraded the debt to CCsf from B-sf, citing “continued uncertainty over the willingness and ability” of buyers to take possession of apartment units, Fitch said in the report.
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