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International companies continue to flock to Panama City, lured by the growing economy and the city’s growing role as the business capital of Central America. Today, there are more than 100 multinational corporations in Panama– a testament to Panama’s rising significance in global business. Many companies rotate their top executives in and out of Panama in order to gain experience within the rapidly expanding Latin American market.

The result is a steady influx of high-ranking multinationals– all of whom have had an enormously positive impact on Panama’s luxury rental market. For housing, the majority of international executives flock to to the luxury waterfront towers of Punta Pacifica.

At Punta Pacifica Realty, we have established relationships with a multitude of these firms, and the list is growing on a monthly basis. We estimate as much as 90-95 percent of Punta Pacifica’s rental market is comprised of expats– evenly split between North Americans, Europeans and South Americans. Of those, a large percentage work for multinational companies and embassies– including CEOs, presidents and vice presidents, along with revered diplomats from governments around the world.

The international preference for Punta Pacifica is no coincidence. The unique blend of advantages offered by this affluent oceanfront district has made it the obvious housing choice for both multinational companies and their clients.

What’s in it for the Multinationals in Panama?

At Punta Pacifica Realty, we work directly with many of the biggest corporations in Panama, including Caterpillar, Proctor & Gamble, and Maersk –as well as most of the top relocation firms.

As they analyze the market, Punta Pacifica offers several distinct advantages, including but not limited to the following:

• A centralized location with proximity to major roads and business centers
• Safety
• A Luxury waterfront location.

Even for top level executives, the relocation experience can be very unnerving. They want the smoothest transition possible, while still enjoying the lifestyle, comfort and security they have grown to expect. Punta Pacifica offers all of the above including a professional like minded community to mingle with– an asset that is difficult to find in other areas of the city.

Location

Ideally located along the oceanfront of Panama City, Punta Pacifica affords easy access to the capital’s most vital business and banking districts. Punta Pacifica is within walking distance from some of Panama City’s best shopping malls, plazas, and gourmet restaurants, as well as a John Hopkins-affiliated medical center. It is home to the Trump Ocean Club, the tallest building in Central America, which serves as a social and cultural center for the neighborhood, with boutique shopping, fine dining, and other conveniences, as well as the largest casino in the region.

From Punta Pacifica, it’s easy to reach every key area in Panama City. The neighborhood boasts its own entrance to Corredor Sur–the highway connecting downtown Panama City to Costa del Este, a thriving center for international business, as well as Tocumen International Airport. Punta Pacifica is also just a short drive from Calle 50 the finance and banking district, as well as the new world-class SOHO mall.

Demanding Top Quality

Top executives expect the top luxury services offered in Punta Pacifica. The executives and diplomats we serve enjoy lifestyle standards that are highly refined; they expect nothing less than the best during their time in Panama.

For those who appreciate the finer things in life, Punta Pacifica is Panama City’s answer to Beverly Hills, Causeway Bay or the other top-end neighborhoods in cities around the world. With its prestigious residences and world-class amenities, Punta Pacifica is second to none in Panama when it comes to luxury, elegance, and exclusivity.

Apartments in the best towers offer the finest fixtures, appliances and vast balconies to enjoy the views of the city and bay. Executives embrace Punta Pacifica’s international-level restaurants, renowned spas and prompt concierge services. With the development of Ocean Reef, two man-made islands adjoined by a world class marina within walking distance of Punta Pacifica’s towers, it is safe to say that the yachting crowd will be joining the mix of residents.

A Special Community

Executives living and working in Panama want a sense of community, a neighborhood where they can network and relax with their peers and families. High achievers are very conscious of the people they surround themselves with; within a foreign country the importance of being around the “right crowd” is intensified.

Punta Pacifica is recognized throughout Panama for its exclusive and prestigious environment. It’s the established neighborhood for Panama’s elite and ambitious, with social and cultural activities catering to this select clientele. Many of the city’s biggest business deals were consummated in the quiet restaurants at the Trump Ocean Club.

A No-Brainer for Multinationals in Panama

It’s clear why executives flock towards Punta Pacifica. What about the companies employing them?

Many of our rental transactions in Punta Pacifica are conducted through the international companies or local and regional relocation companies, not the individual executives.

As the largest rental agency in Punta Pacifica, these companies regularly reach out to us to arrange housing, often for groups of executives. Punta Pacifica is not the lowest pricing option, but they consistently choose to work with us in Punta Pacifica due to the following factors.

Leverage

Companies want to keep their employees happy and nothing brings a smile to the face like a Punta Pacifica tower apartment. Multinationals will often use the high-luxury lifestyle of Punta Pacifica to incentivize their best executives into relocating to Panama. We often see the phenomenon, particularly with Trump Ocean Club, wherin an executive is on the fence about relocating until they get a glimpse of the Punta Pacifica lifestyle..

For an undecided executive, a posh residence in Punta Pacifica makes for a compelling enticement.

Convenience

Multinational companies working with us at Punta Pacifica Realty have come to appreciate and expect a convenient, no-hassle experience.

Our unparalleled inventory of high-end rentals is ideal for those companies rotating pools of employees in and out of Panama. Plus, with the unique benefits of our property management team, we’re able to offer the most streamlined, stress-free experience.

PPR offers a complete turn-key experience, including relocation help and a large multilingual staff available to help with every step. Relocation experts at big companies executives have enough on their hands– they know they can count on us to effectively place their people and provide the best customer service both before and after we hand over the keys.

An Opportunity for Owners

For Punta Pacifica homeowners, this unique, high-level clientele provides a solid rental base that can’t be found in many markets. Many of the property owners we work with specifically request their units be rented to multinational executives and diplomats. Multinationals tend to be ideal tenants. They’re well-paid, high-achieving individuals– not the type to be partying late into the night, damaging the premises, or coming up short on rent. In fact, a large percentage of the companies pick up the tab for their executives’ rent, providing an unrivaled level of security and further solidifying the owner’s investment. The combination of a large multinational corporation paying the rent along with professional management services is a dream come true for owners.

The Bottom Line

For multinational companies, embassies and relocation services, Punta Pacifica offers, the premier lifestyle, amenities and security required by top level executives. Between the neighborhood’s ideal location, benchmark-raising luxury, and diverse, sophisticated community, the affluent neighborhood has earned its title as the go-to choice for multinationals in Panama.

For investors looking for income generating property, multinational executives provide a a reliable stream of model tenants. Punta Pacifica offers a unique opportunity, with dozens of established international corporations already sending their top executives to the area. With the economy continuing to grow and more high-ranking foreigners flocking to this privileged oceanfront community, the Punta Pacifica rental market is set to continue to grow, thanks to this strong, affluent client base.

Jeff Barton is the Managing Director of Punta Pacifica Realty, the leading sales and property management company in the exclusive waterfront skyscraper neighborhood of Punta Pacifica.  Jeff can be contacted at jeff@puntapacificarealty.com