Location, Location, Location



Why Baraka Beach?

Baraka Beach is strategically located on Panama’s Caribbean, 8 nautical miles West of the Panama Canal. It boasts great accessibility by land, air and sea. The potential of this property for a town/resort/hospitality development is immense. 2 major cruise ports, airport, and an intercity train connecting Pacific and Caribbean. Combine this with a superb natural setting, filled with opportunities for outdoor recreational and sporting activities. Historical assets and attractions without parallel. This is Baraka Beach.

Breathtaking Location

Surprisingly Gorgeous and Pristine

Close to Capital city and airport

Access by land, air and sea

Within Designated Tourism Zone

Zone 5 – Metropolitan

= Applies for ALL Fiscal Exemptions under Law 8

The Panamanian Government has set tourism as one of its main priorities and has allocated significant resources towards this goal. On top of this, numerous fiscal incentives are available to those investing in hotels, marinas and tourism related activities in the Republic of Panama.

* see annex Law 8

Note the limits of the METROPOLITAN TOURISM ZONE, designated by the Panamanian Tourism Bureau as ZONE 5 and extending to include Baraka Beach on the Caribbean.

* see annex Tourism Zone 5

Close to Cruise Ports

Close to Inter-City Railway system

Tourist Attractions

Caribbean Sea

Vulcan Reef - One of Panama’s top fishing spots on its Caribbean side

San Blas Archipelago – over 365 islands and cays inhabited by the friendly Kuna

Chagres River – excellent tarpon fishing, kayaking and beautiful scenery

Gatun Lake – Striking scenery, great fishing, dinghy sailing, kayaking, water sports

Fort San Lorenzo – Ruins of a 16th Century Spanish Fortress

Achiote Road Bird Haven – Ranked among top birding sites in the world

San Lorenzo National Park – offering hiking trails and a plethora of flora and fauna

Panama Canal – Gatun Locks - one of the great engineering wonders of the world

49rs route across the Isthmus – Trans-isthmian train

The Site

With 200 Acres of titled property, Baraka Beach boasts over a quarter mile (half a kilometer) of sandy Caribbean beach frontage, an artificial lake providing additional waterfront, approximately 1 kilometer of road frontage, and spectacular topography with elevated inland assuring miles of continuous West, North and South ocean views.

Baraka Beach is located in one of Panama’s most scenic settings, on the Caribbean Coastline 20 minutes due west of Gatun Locks, near the Northern entrance to the Panama Canal. It is a well studied fact, reinforced by lengthy research conducted by various organizations, that the areas surrounding the Panama Canal harbour the most interesting combination of scenic, historical, ecological, commercial and natural values to be found in Panama.

This is documented in Dr. Hana Ayala’s tourist inventory, conducted for IPAT. During Architect Frank Gehry’s workshops in Panama, along with the other sharette members, agreement was reached that the best site to build an architectural icon for Panama was near the Gatun Locks, on the west side of the Canal.

Access

International Airport:

Tocumen Airport serves direct international flights from Miami, Orlando, Los Angeles, Houston, New York and Madrid, among many others. Airlines arriving in Panama include American, Continental, Delta, Copa, TACA, Avianca, Mexicana, Lloyd, Iberia, Air Madrid.

Panama is hub to Copa Airlines, which has one of the youngest fleet of equipment in the industry, and offers convenient direct flights and connections to/from 29 destinations in 19 countries. Copa Airlines is in turn partly owned by Continental Airlines. Their strategic alliance and merger has provided for Copa’s continued success and customer satisfaction. Large charter planes are also currently arriving from Canada and Italy.

France Field Local Airstrip

Serving private and charter flights in France Field, 15 minutes from Gatun Locks.

Highway

Current driving time from Panama City is two hours, which will be reduced to 1 hour twenty minutes once the new highway is delivered in February 2009. Paved road currently reaches Playa Baraka.

Transcontinental Railway

Serving between Panama City and Colon City over what is known since the California Gold Rush as the 49rs route. Recently put in service by Kansas City Railway, this train ride is world class and offers magnificent scenery. It was rated as the best new tour among Cruise lines in the Caribbean in 2002.

Cruise Terminals in Colon

30 minutes from Barka Beach are the cruise terminals. Over 160 cruise ships are currently calling at the cruise ports in Colon. Arrivals keep incrementing. Cruise Lines include Princess, Norwegian, Carnival, Celebrity, SilverSea, Royal Caribbean.

Shopping:

The cruise terminal includes a big supermarket as well as shops offering products ranging from electronics to Cartier watches and Gucci handbags. Additionally, a new shopping center, Millenium Plaza, is in the works in Cristobal. 1 hour away is Panama City, boasting plentiful retail shopping opportunities in numerous malls including the newer malls of MultiCentro, Albrook, and Pacific Mall.

Marinas

Over 1,400 pleasure boats cross the canal every year. Additionally, to the East is the San Blas Archipelago, which with its 365 + islands and cays is the ultimate sailing paradise to even the most seasoned of skippers. Why not organize our own international regatta: The Baraka Classic Cup.

Existing marinas in the area include

Shelter Bay Marina, Fort Sherman - New Marina

Panama Canal Yacht Club, Cristobal - Traditional marina – needing makeover

Utilities and Services

Basic water, electricity and telephone utilities (including fiber optic) serve the area.

5 submarine fiber optics cables cross Panama (PAC, SAC, ARCOS, Panamerican and MAYA).

Attractions

The entire region abounds with outdoor recreational opportunities. Starting with the main attraction, the calm waters of the Caribbean, to fresh and saltwater fishing, rivers and lakes for kayaking, scenic pastures apt for horseback riding, hiking trails in the forest, and bird watching. The list goes on.

Caribbean Sea

Vulcan Reef (Panama’s top fishing spot on its Caribbean side).

San Blas Archipelago – over 365 islands and cays inhabited by the friendly Kuna

Chagres River – excellent tarpon fishing, kayaking and beautiful scenery

Gatun Lake – Striking scenery, great fishing, dinghy sailing, kayaking, water sports

Fort San Lorenzo – Ruins of a 16th Century Spanish Fortress

Achiote Road Bird Haven – Ranked among top birding sites in the world

San Lorenzo National Park – offering hiking trails and a plethora of flora and fauna

Panama Canal – Gatun Locks - one of the great engineering wonders of the world

49rs route across the Isthmus – Trans-isthmian train

Drive-by traffic

The Gatun Locks, mandatory crossing point at the Panama Canal, has acted as a chastity belt, keeping outsiders at bay and preserving the area within Baraka Beach quiet and pristine. Traffic is limited to local town residents and bird watchers venturing into neighboring Achiote Road, known the world over as a birding paradise.

Crossing the Gatun Locks is mandatory to reach Baraka Beach. This is an experience in itself, yet most locals have never ventured to this still pristine part of the country. Mainly because it used to be part of the Canal Zone and its access was restricted to US nationals.

Surrounding Uses

The property is nestled between the Caribbean Sea, San Lorenzo National Park (over 14,000 hectares), and Gatun Lake - Panama Canal. Current land use for immediately adjacent properties is mainly ranching and agricultural in nature. The area is strongly influenced from tourism, especially derived from cruise ship business. Because Baraka Beach is only 30 minutes from Panama’s main cruise ports, it gives the site an absolute advantage to attract this market via shore excursions.

Topography: Rolling hills with amphitheater-like topography provide spectacular views over the Caribbean Sea.

Position: Baraka Beach faces the Caribbean Sea to the West, providing for fantastic sunsets over the ocean and fresh Westerly breezes.

Climate

Panama’s weather in general consists of two main seasons: the rainy or green season and the dry season. The rainy season covers May through December, while the dry season covers January through April.

Some of the most beautiful sunny days by the beach can be experienced during the green season, as wind speeds are at their lowest levels and the sea is at its most calm, creating a blue lagoon seascape.

Hurricanes and Earthquakes

Unlike Florida and other Caribbean regions, Panama experiences no hurricanes. With the right infrastructure, Panama is a perfect southern shelter for yachts in the Caribbean. No seismic activities in the Panama Canal area have been recorded.

Tidal changes: Average of 1 ft tidal changes. Contrary to tidal behavior in the Pacific, where tides can reach differences of up to 18 feet between highs and lows, the Caribbean tidal changes are not usually greater than 1 or 2 feet.

No Mosquitoes: An added advantage to the site is the lack of mosquitoes. This is reinforced by the absence of dense forests and mangrove in the area.

Why Panama?

North Americans and Europeans are flocking to Panama to retire. There are a number of attractive factors affecting the relocation and purchase decision for expatriates and retirees. Some of Panama´s advantages are listed below:

Ranked by International Living as the world’s No. 1 Retirement Destination

Ranked by Modern Maturity Magazine as the world’s 4th best retirement destination.

Warm Weather Year Round

Favorable Incentives for Retirees

Favorable Incentives for Tourism Projects

Convenient Airline Services

Availability of Goods and Services

Johns Hopkins Medical Facility

Lower Cost of Living compared to Europe and USA

Safe

Cosmopolitan

US Dollar

International Banking Center

Appreciating Real Estate Market

Rich cultural heritage

Attractive Incentive Program for Retirees

Panama has one of the world's best incentive programs for retirees. International Living ranks it as THE best. This is also an important deciding factor for pre-retirees. The Pensionado Visa Program offers retirees dozens of discounts, such as:

• 25% off airline tickets; 50% off hotel stays (Monday through Thursday)

• 50% discount on movies, and cultural and sporting events, 25% off restaurants

• 30% discount on train, bus, and boat transportation

• 25% reduction on your water, telephone, and electricity bills

• 50% off closing costs for home loans; 15% discount on loans made in your name...and a 1% reduction on mortgages for personal use

• 10% off prescription medicines; 15% off dental and eye exams; 20% discount on doctor visits.

Hotel and Tourism Infrastructure

Development follows tourism. After much investment in hospitality and tourist infrastructure, combined with international marketing efforts, Panama has become a sought after destination by European and US travelers. The trend continues to grow as more hotel and tourist related projects materialize. Following is a list of representative projects completed within the last 7 years:

Panama City Hotels Rooms

Marriott 295

Rosewood 56

Courtyard by Marriott 120

Intercontinental 185

Crowne Plaza 150

Country Inns & Suites by Carlson 117

Radisson 300

Sheraton 128

Hotels near Gatun

Melia Panama Canal 300

Millenium Plaza (under construction) 243

Beach Hotels

Decameron Beach Resort & Casino 600

Playa Bonita InterContinental 300

Industry Analysis& Trends

Size and Growth

“Panama’s GDP contribution from the construction industry in 2004 experienced a growth rate of 7.2%. During the first quarter of 2005, the amount of construction permits granted in Panama represented an increment of 57%, the largest in the history of the Panamanian Construction Chamber. In comparison to the same quarter of 2004, the dollar amounts granted in permits grew from 137.636 million to 215.576 million dollars.”1

“Mortgage financing continued with a positive trend during the last 12 months, with a 9.8% growth rate, for a total of 3,608 million dollars. Mini permanent loans registered a 10.6% increment to February 2005, in comparison to February 2004.”2

Many factors have influenced the dynamism in the sector. One of the main reasons being the expansion of mortgage credit offered by banks to local and foreign customers.

With increased development and high quality supply of products and services, Panama has rapidly become a target as a top retirement haven for European retirees and North American baby boomers looking for a more pleasant weather as well as higher return from their pension and life savings.

Cruise Ports and Marinas

In the year 2000 two major cruise ports initiated operations on the Caribbean side in Panama. This has allowed for cruise ships to call and passengers to disembark and join a plethora of available tours. 83% of cruise ships call on the Caribbean side. This is logic as most of cruise traffic takes place in the Caribbean.

A total of 304,712 tourists disembarked from cruise ships during the 2003 to 2004 season in Panama’s ports. The majority of which are American pre-retirees and retirees. This represents a significant market in itself, which can be tapped simply through the sale of tours to Baraka Beach.

“A large proportion of cruise passengers can be considered frequent vacationers who cruise as part of a vacation mix. Over 85 percent of passengers consider cruising an important vehicle for sampling destination areas that they may choose to revisit in the future. Nearly 50 percent of cruise passengers fully expect to return to the same geographic area / destination for another type of vacation.”25

Cruise ports in Panama include

Colon 2000 Cruise Port - Colon

Panama Ports Cruise Port – Colon

Fort Amador and Marina – Panama City

Additionally, there are over 1,400 sailboats and motor yachts sailing across the Panama Canal every year. Primary marinas within the trans-canal area include,

Shelter Bay Marina – Fort Sherman – Caribbean entrance to the Panama Canal

Fort Amador Marina – Panama City – Pacific entrance to the Panama Canal

* see annex for Cruise Port data and statistics

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