It has been a few years since we first reported on the Azuero Peninsula region of Panama in our real estate section. This area has long been considered a cradle of traditional Panamanian customs and folklore, now one of the fastest-growing regions in an already economically flourishing country. One of the main focal points of this attention now is the ambitious Cubitá Wyndham Grand hotel/residential/commercial project currently under construction in the city of Chitre. The project combines traditional architectural motifs and materials, unique details such as a colonial chapel and museum, and state-of-the-art amenities.
What’s special about Azuero?
According to a recent economic study, the Azuero Peninsula currently outranks neighboring provinces in a number of economic indicators including per capita GDP, the nation’s highest after the province of Panama, surpassing Chiriqui, Coclé and Veraguas. More than 60 large companies with operations at the national level have established branches in Chitre in the past ten years, including retail businesses, service industries, car dealerships, restaurant franchises, health services, higher education institutions, banks, supermarkets and hotels.
Recently the United Nations Development Program gave the district of Chitre the nation’s highest marks in the human development index, a measurement of quality of life based on factors such as the education level of its population and life expectancy.
The Cubitá Wyndham Grand complex encompasses a 100-room luxury hotel scheduled to begin operations in July of this year, 26 single-family residences, 4 condominium complexes with a total of 64 apartments, a shopping plaza with 20 commercial spaces, a colonial chapel that provides the perfect setting for destination weddings, and a museum highlighting the region’s heritage and local artisans. Amenities available to both community residents and hotel guests include a restaurant, event center, pool, gym, sauna, and spa.
The doors of the elegant Tonosi Model Show Home, one of the two models of single-family residences available, opened this past November. See floor plans of the two available styles at the Cubita site.
The four condominium complexes will offer residents an ideal lock-up-and-go lifestyle, with elevators, covered parking, and the option to the apartment in a property rental and management program, earning an income for those who don’t intend to live there all year round.
More than 60 percent of the homes, apartments, and commercial spaces are sold at this point, so sign up to get more info if this coastal retirement or vacation home opportunity looks intriguing. This is a straightforward path to grab a spot in the vibrant yet charmingly laid-back Azuero region, known for the warmth of its people, the pristine beauty of its beaches, and the effervescence of its festivals.