In an article recently released by the South Florida Business Journal it states that Orient Express has teamed up with Miami-based Related Group to develop in Panama City, Panama read the article below:
Orient Express said it has signed a letter of intent to establish a strategic partnership with Miami-based Related Groupto develop hotels and residences in South Beach; Cartagena, Colombia; and Panama City, Panama.
Orient-Express said the proposed strategic partnership plans to
develop and operate multi-use projects that will include hotel, branded
residential and commercial components. The letter of intent between the
companies contains a 90-day exclusivity period and is non-binding until
detailed negotiations are completed.
Orient-Express said the initial projects are expected to open
within three years. They are to include a hotel with 28 luxury
residences in South Beach; an oceanfront hotel in Cartagena, close to
the old walled city, which is a UNESCO World Heritage site; and a hotel
on Avenida Balboa in Panama City, part of a major city-led waterfront
development project. In each case, the hotel will be part of a wider
development and will be managed by Orient-Express Hotels.
"As a leading developer of high-end condominiums in the United
States and Latin America, we recognize Orient-Express as the ideal
partner to bring a fresh, unparalleled cachet to our unique, luxury
properties in South Beach, Cartagena and Panama City," Related Chief
Executive Officer and Chairman Jorge M. Perez said in a news release.
"Related will continue its critically acclaimed success collaborating
with world-renowned architects and designers to create landmark
projects in global destinations. And now, with Orient-Express
contributing the most luxurious experience in accommodations and
customer service, together we can offer our customers a lifestyle that
sets new standards in class and quality."
The South Beach project will bring the number of Orient-Express properties in the U.S. to eight.
These and other good news seem to be hitting Panama on an ongoing basis! Panama continues to be a top destination for investors and developers from the world over. If you are looking for Panama Development Opportunities contact us or visit our website
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