2018 May June Marina World

WATERFRONT DEVELOPMENTS
Man-made islands create a protected basin
for Ocean Reef Islands Marina (left), which
will be developed in line with the CGI
(below).
Inviting the world to
Panama by Robert Wilkes
When talking about travel you may get the question, “Have you been to
Germany?” One might answer, “Why, yes. I changed planes in Frankfurt.”
Clearly, the Frankfurt airport is not Germany.
Likewise, Panama. Since the canal
opened in 1914 and erased 12,875km
(8,000mi) of sea travel between east
and west, millions have transited. How
many have really seen Panama?
Alfredo Aleman, CEO of Grupo Los
Pueblos, is a visionary developer who
wants you to see Panama. He is the
builder of Ocean Reef Islands Marina
and residential development in the
heart of Panama City, the metropolitan
centre of the fastest growing economy
in Latin America. “Everyone knows
Panama is a crossroads,” said
Aleman. “We want them to see it as a
destination. We want them to discover
our cosmopolitan cities, our national
parks and our beautiful islands and
beaches.”
As the financial centre of Latin
America, Panama City has seen
60 new skyscrapers added to its
Singapore-like skyline in the last
ten years. Founded in 1519, the
cobblestone streets and old-world
charm of Casco Viejo (the Old Quarter)
keep history alive. For the adventurous,
Panama is a mecca for marlin sport
fishing and its verdant mountains
and virgin rainforests offer endless
opportunities for ecotourism.
The original concept
Because of challenging tidal factors
and lack of space within the bustling
core, Panama City has few moorage
options for larger yachts. Aleman, an
experienced property developer and
a boater, recognised an opportunity
to satisfy the needs of successful
Panamanians
whose numbers
are increasing in
proportion to Panama’s
vibrant economy.
Many love the scenic
boating environment
in Panama with
its enchanting
archipelagos such
as Las Perlas (Pearl
Islands) and Coiba
Island (part of Coiba
National Park) on the
Pacific side. They own
or want to own a yacht
but need to have a
secure slip near to the
city.
Aleman began the process of
planning, permitting and arranging
financing ten years ago. His vision was
an exclusive residential and marina
complex on two man-made islands
connected to the city by a private
causeway. The basin formed between
the islands would
embrace a marina
in the centre,
private docks
on the shoreline
and an upscale
clubhouse at one
end. A system of
breakwaters would
protect the boats Visionary developer
from weather and Alfredo Aleman.
long-period waves
unique to the Pacific
side of Panama. Panama offers a
major advantage: it is well outside the
storm track of Caribbean hurricanes.
The ambitious project presented
many challenges, not the least was
convincing investors and lenders it
could be done.
Indeed, it has been done. The islands
(the first man-made islands ever built
on Latin America’s Pacific coast)
and the causeway are complete and
numerous residences are occupied by
their owners. Residences are mostly
private, single-family homes, but also
include luxury condominiums and
garden apartments. The marina, with
60% of the slips already leased, is
undergoing engineering and design.
Parks, tennis courts and other
amenities have been delivered. The
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