It appears that the existing landing strip in Rio Hato, about 90 minutes west of Panama City, will be upgraded to receive international flights, according to a recent announcement by Panama’s President Ricardo Martinelli.
Machine Translation From La Prensa, February 19, 2011
The President, Ricardo Martinelli, announced that the town of Rio Hato, Cocle Province, will be the site for the construction of international airport in central provinces.
The president and the doubts cleared after several months of controversy in which local authorities and civic organizations in regions such as Aguadulce, Anton, Penonomé, Santiago and Chitre have demonstrated, even in the streets, demanding the venue for this work.
“It will be in Rio Hato, is decided,” Obama said while it reported that Santiago was discarded because it will make a huge investment to improve existing conditions and expand the airport Ruben Cantu, of this city.
“We will invest in building an international airport of Howard, the central provinces, which will be in Rio Hato, and improved structures Enrique Malek in David, to have international status,” added the president.
Martinelli also announced it will build another airport in Santa Catalina, Sona district, where international flights arrive, but will not be such a large structure in this tourist area.
The president’s announcement came this weekend in the district of Sona, where Martinelli made a tour of two days in this region of his native Veraguas.
Earlier this year, the administrator of the Panama Tourism Authority (PTA), Solomon Shamah, revealed that after several technical and economic studies had determined that the international airport would be built in central provinces currency, central region country or in the city of Santiago. However, Martinelli emphasized that both locations were ruled out for this work.
Source: La Prensa Newspaper, Panama
The new airport would also free up Panama City’s Tocumen International Airport to accept more flights for business and connecting flights in an effort to secure Panama’s position as a hub for business and commercial activity in the region.
The new airport will serve to boost tourism along the Pacific beaches of Panama where several beach resorts and condo developments are located. The new airport will also improve international access to the town of Penonome, which is only about a 20 minute drive from Rio Hato.
Penonome Location Map
‘Best Value Lifestyle’
On February 5, 2010, we posted an article entitled “Penonome – Best Value Lifestyle In Panama”. The article was based on the idea that Penonome remains one of few areas in Panama that still offers low priced real estate amidst a friendly town atmosphere with attractive mountain scenery and all the comforts of home.
‘Free Special Report’
In the same article we identified several more benefits of living and investing in Penonome which included close proximity to prime beaches, golf, surfing, fishing, mountain scenery, ranching, and gardening and yet close enough to Panama City to drive to and from the city on the same day. As a follow up to the article, we also produced a Free Special Report about Penonome (to receive this report send an email request to firstname.lastname@example.org).
‘Local Economy Is Growing’
The local economy in Penonome is growing as a result of export-grade agricultural production and job growth from nearby beach resort developments. Recent construction of a brand new large-scale supermarket (Super 99), new bank branches, new gourmet restaurants, and many other new businesses are a testament to Penonome’s existing and future potential as an attractive place to live and work. The announcement about an international airport makes the argument for living and investing in Penonome even more convincing.
‘Property Values 50% to 75% Cheaper’
While property values throughout most of Panama are sinking like a balloon with a slow leak, Penonome properties are more likely to appreciate as agricultural land is gradually developed for residential and commercial uses.
Property values in Penonome were spared from the rampant real estate speculation that occurred in communities like Boquete, El Valle and Altos Del Maria. Currently Penonome offers real estate priced 50% to 75% cheaper than the more well known international communities in Panama. A half acre home site in Boquete or Altos Del Maria might run $75,000, whereas in Penonome you can purchase five acres for around the same price. How long this price discrepancy will last is anyone’s guess but a new international airport could be a game-changing event for Penonome.
Get A Free Special Report about Living and Investing In Penonome, send an email requesting the report to email@example.com
Inquire About Day Trip Lifestyle Tours To Penonome from Panama City, send email to firstname.lastname@example.org for details.