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Special EU & EURO Warning – December 14, 2011Offshore Jurisdiction Comparison 
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Trump Panama Update - Today in Panama City the La Prensa newspaper reports that the Trump project is moving ahead. The $220,000,000 bond offering is expected to be sold by Bear Stearns in the next dew days. Trump Ocean Club had recently lost its conventional financing for the construction and had to resort to unconventional means, thus the bond offering. Roger Khafif, Trumps Panama partner in the project, announced that all the approvals were completed or in final revision.
Details – The project is 70 floors high. The residential units are 60% pre-sold. The commercial units (stores, shops, services) are 40% pre-sold. The clients are from 29 different countries.
Prices – Are you ready for this? The cost of a residential units is now between $5,000 and $7,000 a square meter. One of the glamour penthouses is selling for $12,000,000 and there is only one such penthouse left.
Summary – We are shocked to see such high prices but prices all across the board are going up in Panama. We are glad trump Ocean Club looks like it is going to complete and we look forward to actually seeing this real estate icon completed.
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*Offshore Legal Associates Law Firm.We have no legal ties or associations with any other law firm or corporation with similar or like sounding names anywhere and should not be so confused with any other entity having a similar or like sounding name.
