real estate

New luxury hotel planned

LA PRENSA

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Orient-Express Hotels, a Bermuda company that owns and manages 55 luxury hotels in 25 countries, has announced that it is teaming up with the U.S. real estate development company The Related Group to develop hotels and residential projects in Panama, Colombia and Miami.

One of the hotel projects is planned for Avenida Balboa.

“The hotel in Panama City will be located on Avenida Balboa and will form part of a larger complex,” according to an Orient-Express press release. The company didn’t indicate the estimated cost of the development or a timeline.

Jorge Pérez, president of The Related Group, said they will try to offer Panama a “more luxurious experience in lodging.”

“Our development policy is clearly focused on luxury properties of the highest quality, which fits perfectly with the profile of our customers and, increasingly, with those interested in real estate opportunities,” said Paul White, CEO of Orient-Express.

Neither the Ministerio de Vivienda nor the Ingeniería Municipal responded to La Prensa’s requests for verification that the plans for the project, designed by the U.S. firm Arquitectónica, had been approved by the planning board.