News Room
Logistics World - May 21, 2007
UK Developer plans one of World’s Largest Logistics Hub at
Panama Canal.
UK real estate developer, London & Regional (L&R), last
month completed the purchase of one of the largest property deals
ever recorded - the purchase of the 2,750 acre Former Howard Air
Force Base in Panama City, Central America.
Logistics World has learnt that a key feature of
L&R’s vision for the site is the creation of one of the world’s
largest logistics, distribution and inter-modal terminal on a
designated Free Trade Zone.
This will link the sites existing 8.500 ft runway and the Panama
Canal next door. This project is viewed as the missing piece of the
jigsaw of Panama’s logistics offer - the creation of a large-scale
air transport link capitalises on Panama's strategic location at
the gateway of the Americas and the population accessible within a
two hour flight-time.
L&R’s International Development Director, Jason Mills,
said:
"We are in detailed negotiations with a number of the
leading logistic and distribution companies to secure regional hubs
at Panama Pacifico."
L&R plan to create an entire new mini city at Howard. It has
already renamed the site "Panama Pacifico". The new mini-city will
include a wide range of employment uses, including a science and
office park, call centre campus, media village, motor trade park,
factory outlet centre, retail mall and a new executive jet centre
and other airport related businesses. A wide range of residential
communities are proposed and several high profile international
hotel, spa and resort developments.
L&R is one of the largest private real estate companies in
the world, with an international investment portfolio worth some
US$25B. The company has one of the largest international
development programmes in the private sector. Projects include the
largest development in London’s West End; a fifty storey mixed-use
tower in London; a 50 acre project in Moscow and the 200 acre
Victoria & Albert waterfront in Cape Town, South Africa.
L&R is headquartered in London, England with regional offices
in Cape Town, Frankfurt, Helsinki, Moscow, St Petersburg and
Stockholm. It will open an office in Panama City shortly.
L&R’s masterplan for Panama Pacifico will be submitted
within ninety days. Subject to the developer securing detailed
approvals the first phase of development should commence before the
end of 2007.