PANAMA CITY, PANAMA-The $400 million Trump Ocean Club International Hotel and Tower building is set to open by the end of the year. The 70-story property, which will have a mix of 1,000 condos and hotel condos, is going up in the affluent Punta Pacifica neighborhood here.
K-Group Developers Inc. and the Trump Organization partnered to build this property. The building was initially set to open late last year, and a sales director told GlobeSt.com in November 2008 that the property was 80% sold. Recent, however, K-Group president Roger Khafif tells GlobeSt.com that the new opening date was supposed to be this month, and the building is 90% sold. “A few months delay on such a grand project is reasonable and acceptable,” he says.
There are about 369 hotel condos in the tower. Studio condos at the building, including the hotel condos, are priced in the low $400,000s, with three-bedroom condos in the low $1 million range. Amenities include a wellness spa, oversized pool and deck, private island beach club, yacht club, office lofts, and more, as well as the 45,000 casino. “The building will be delivered in phases starting at the end of this year,” Khafif says.
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