Published on: 02/01/2008

The Central American investment hotspot of Panama will have a huge new landmark in the form of one of the tallest residential towers in the world, it was announced this week. Work on the Los Faros de Panama project was officially launched last Friday at a groundbreaking ceremony hosted by Grupo Mall, the Spanish development firm behind the scheme.

The exact height of the tallest tower of the three comprising Los Faros is a matter of some dispute but figures in the public domain vary between 324 and 348 metres in height, which would make Los Faros taller than the Q1 Tower in Queensland, Australia, currently the worlds tallest residential building. The main tower is due for completion in 2010, with the two adjacent towers scheduled to be finished by 2012.

The project designed by UK architects Chapman Taylor will feature more than 1,700 residential units, a five-star hotel and a casino. Properties will be priced from $200,000 (108,000).

Every so often a product comes along which ticks all the right boxes in terms of quality, price and location. This development excels in all departments and for those looking to purchase a property for investment or retirement purposes, I doubt there are many other projects out there that come close, said Adrian McDermott of Escapes2, who is marketing the project to the UK.


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