News

Government officials have announced plans to move forward with construction of a fourth bridge over the Panama Canal, including lanes for the cross-Canal extension of the Panama City metro.

The bridge will be located on the Pacific side of the canal, north of the Bridge of Americas, and connect with the northern corridor expressway, according to media reports. The bridge will be 54 meters wide and include three lanes in each direction for cars and trucks, and two lanes for the metro, according to local media reports.

There are currently two bridges over the Canal, including the Bridge of Americas, the main artery, and a third bridge is in development for the Atlantic side of the Canal. The Ministry of Public Works is expected to start taking bids on this new pacific side project within six months, a sign that the government is serious about making progress on the bridge.

This is important on many levels for the Panama City property market. Congestion over the Bridge of Americas is one of the biggest restraints for the growth of Panama City and a constant annoyance for anyone who needs to travel to the interior or Panama’s west coast. Making it easier to travel to the west will raise the value of all property in the city, combining the best of the business and tourism markets. The ability to easily explore Panama’s countryside is one of the best parts of living in bustling Panama City.

A new bridge will also improve access to the fast growing Panama Pacifico master-planned development on the west side of the Canal. More access will expand the borders of the city, offering new opportunities and relieving the congestion, allowing more businesses to locate on the outskirts. More business means more corporate executives looking for luxury homes to rent and buy.

The key is connecting all these areas with mass transportation, diminishing the focus on cars and creating a model for the modern Latin American city. The bridge, including the extension of the metro, is one more sign that Panama is ready to make that happen.

Duncan McGowan is president of Punta Pacifica Realty, a Panama real estate agency focused on Punta Pacifica, the exclusive neighborhood of 18 towers perched on the edge of the Pacific Ocean.