The Trump Ocean Club International Hotel & Tower willfeature a 65-story condominium tower with 500 condominium units and312 hotel condominium units. There will also be a casino, privatebeach club, 24-hour marina, among other amenities. The project willbe built on an artificial peninsula on the Panama Bay, with totalland area of 140,000 sf. Plans also call for more than 1,500parking spaces.

The development coincides with Panama's plans for anapproximately $5.5-billion improvement of the Panama Canal, K Grouppresident Roger Khafif pointed out during a press conferenceannouncing the project. The just-announced Canal plan still mustmeet voter approval. Khafif said as many as 30,000 US citizenscurrently call Panama home and there are more than one milliontourists each year.

Donald Trump said his interest in Panama was sparked three yearsago when his "Miss Universe" pageant was held in the country. Thiseffort—the organization's second largest right now—was recentlyincreased by 600,000 sf. "The right opportunity presenteditself."