Panama plans to sell land after U.S. leaves canal Baltimore conference discusses ways to attract companies

Real estate

October 30, 1997|By Samantha Kappalman | Samantha Kappalman,CONTRIBUTING WRITER

The Panamanian government is looking to sell 900,000 acres of prime real estate to companies interested in developing trade, business and land along the 50-mile canal that allows 4 percent of the world's trade to easily travel from the Atlantic to the Pacific.

Navarro said there are port areas, tourism areas and areas

for the future that have not been developed.

"We're hoping for no less than 50 jobs created per acre in industrial parks," Navarro said. "We have a very high and unacceptable unemployment rate of over 10 percent. It's our biggest problem."

I. Jay Warren, a real estate and industrial development consultant for IESC, said the conference was held in Baltimore because of the area businesses and industrial parks that have been successful in situations similar to what needs to be done in Panama.

"There are so many success stories in Baltimore and its surrounding counties such as the Holabird Business Center, a former military base," Warren said. "We wanted ARI to hear how the Holabird transition happened and how they can make it work for them."

Pub Date: 10/30/97

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