News Room
Legal Week article - March 8, 2007
L&R Bags Panama Canal Development
Leading UK developer London & Regional Properties has
secured initial rights to build a new ‘mini city’ on the banks of
the Panama Canal.
The $700M project covers 2,750 acres of land and is expected to
create around 20,000 jobs. The scheme, known as the Howard Project,
will redevelop a 1.7 mile airstrip build by the US but largely
abandoned since its forces left the country eight years ago.
The project is due to be ratified by the Government of Panama in
a matter of weeks
US giant White & Case has bagged a lead role advising the
Republic of Panama on the redevelopment of the Howard Air Force
Base. The team at White & Case was led by Miami real estate
partner Bill Walker.
Walker commented:
"About 60% of the trade in and out of the US passes through
the Panama Canal. When you combine thousands of new homes, hotels,
a science park and a golf course, with the proximity to the world’s
busiest canal, you can see why the global investment community is
taking note of this project."