Panama on the Lookout for FDI - Club Meeting
GRI Club hosted its first club meeting for its Central America and the Caribbean Club on January 28 in Panama City. Over 45 of the region’s most important real estate investors and developers gathered at the Dream Plaza Convention Center in Panama City to discuss how the industry is evolving.
To give participants an in-depth image of how the market is performing, market experts Roger Kinkead, Director of Investment Banking of MMG Bank, Luis Navarro, Managing Partner of INDESA and Eduardo Caballero, Managing Partner of the Panama Real Estate Development Fund gave special presentations to participants.
Luis Navarro gave a special presentation detailing the macroeconomic conditions of the region and the risks that could arise in the coming year. To complement his market analysis, Roger Kinkead’s presentation focused on Sociedades de Inversión Inmobiliarias (SII), or Real Estate Investment Trusts, and how the Panamanian market can benefit from using structured instruments for real estate development. After the presentation, Eduardo Caballero initiated the group discussion with all participants to discuss the challenges and opportunities that will carry on throughout 2020.
During the group discussions, investors and developers were most worried about the surplus Panama is undergoing. Panama experienced a large real estate boom, where in the last years many projects have been delivered, but have been unable to be occupied. Participants agreed that more FDI is needed to boost occupancy levels and for more companies to set up operations in Panama, so that there is more demand for the spaces that have already been constructed. They also agreed that the government will play a key role in bolstering the local real estate sector by generating incentives for companies to establish their operations there.
This meeting brought together players from all segments of the Central American and Caribbean real estate sector including Juan Pablo Zarate (Banco Banistmo), Xenia Kwai Ben (Acobir), Alfredo Monagas (Grupo Imalca), Marielena Garcia Maritano (MMG Bank), Jorge Morgan (MMG Bank), Katherine Shahani (Grupo Shahani), Norberto Delgado (Casas Pacificas), Beatriz Lyons (Prival Bank),Octavio Vallarino (Desarrollo Bahía), among others.
Join us for the most important gathering of Central America and the Caribbean’s real estate leaders on March 25-26. Click on the image for the full discussion agenda!