Twenty-two hotel projects, with a combined investment of more than 569.2 million dollars, are currently being built in the country, according to reports provided by the Tourism Authority of Panama. These projects are listed on the National Register of Tourism and enjoy the tax incentives granted by law 58, which expired on December 28 of 2006, which amended a section of Act 8 of 1994.
Twelve of these projects are located in the heart of the capital city (for a total of 424.1 million dollars), two in the area of Amador (for 22 million dollars) and three in the Casco Antiguo (by 65.1 million dollars).
In the area of Farallon, Cocle Province, two projects are being developed, with an investment of 46.2 million dollars. Meanwhile in the city of David, Chiriqui, other tourist infrastructure is being built at a cost of 8.5 million dollars. Two other projects, worth 3.3 million dollars, will be located in Santiago de Veraguas.
These projects will add 4,816 rooms to the existing inventory. Last year, there were 16,843 rooms across the country.
The Ritz Plaza Suites, Le Meridien, Trump Ocean, Casco Viejo, Central, Founder The I and II, Breezes Panama, Mikonos and David are some of the hotel projects being built. It is estimated that some of them will ready by the end of this year.
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