The company recently hired HBA/Hirsch Bedner Associates to design the 369 hotel condo rooms. The project is now constructed up to the 15th floor, says Jack Studnicky, director of sales. "Starting this month, they're going to be completing six floors a month," he says.

Sales have been brisk for the more than 1,000 condos in the building, he says. "We've sold about 808 of them," Studnicky tells GlobeSt.com. "The condo hotels are going for about $440,000, a one-bedroom condo is about $550,000, a two-bedroom condo is about $730,000 and there's a few penthouses that are more than $3 million." Amenities will include a wellness spa, an oversized pool and deck, private island beach club, boutiques and shops, exclusive office lofts, a business center, onsite barber shop, beauty salon, drug store, jewelry store and flower shop.

He says the US economy downturn hasn't really affected sales, but may have affected who could buy. "About two-to-three years ago, we were getting 75% of our sales from the US, and the rest from international buyers. Now that's reversed, we're selling to China and Russia, especially Russia. Because of the canal, this is a strategic location, and it's an easy country to visit. They use the dollar, speak English and the infrastructure is pretty good, you can drink the water right out of the tap."