Desarrollo Bahía

Desarrollo Bahía, a company managed by Simón Hafeitz and Octavio Vallarino, has dedicated itself to the development of real estate projects in Panama since 1984.
Companies in affiliation with Desarrollo Bahía have carried out condominium, hotel, and office projects as well as participated, as investors, in other large projects such as the most important shopping/entertainment/hotel project in Panama—Multiplaza Pacific. The company’s main objective within its investment programs is to undertake projects that play a significant role in the economic prosperity of Panama.

In 1984 the company acquired a prime property in the exclusive area of Punta Paitilla. This seaside area, called Desarrollo Bahía Paitilla Urbanization, overlooks the bay and the city of Panama, one of the most spectacular views in the entire city. As of September 2005, six hi-end residential condominiums have been built in this area.

• Mediterrané Condominium, 1989.
• Mar de Plata Condominium, 1993.
• Bayside Tower Condominium, 1994.
• Villa Marina Condominium, 1996
• Peninsula and Punta Roca Condominiums, 2004.

Other projects developed by Desarrollo Bahía include:

• Banco Continental Building, 1998.
• Panama Marriott Hotel, 1999.
• Royal Casino at the Marriott, 2005
• Cinepolis Theaters, 2005.

For completion in 2007, Bahía Pacífica Condominium, a luxurious 45-story residential condominium, is currently being erected in Punta Pacifica, the newest combination residential/commercial development in Panama.

The Point Condominium, a luxurious 55-story residential condominium, is under construction in the best site in Punta Paitilla, for completion in 2008. Among the company’s future projects is the Tower Financial Center , an office building located in the heart of Panama City’s banking and financial district adjacent to the Marriott Hotel. Desarrollo Bahía is also participating as one of the four major groups of investors in the Multiplaza Pacific Mall that opened in 2004.

For the construction of our projects, Desarrollo Bahía operates its own construction company, Constructora Bahía, managed by Salvador Stanziola. Desarrollo Bahía closely identifies with the tourism industry, and with a group of local and international investors is currently analyzing the possibility of developing a tourist destination on del Rey Island, this would turn the Pearl Island group, one of the most important natural resources in Panama, into one of the most unique destinations in the entire American continent.

“Investing in Panama’s Progress” is the slogan that guides our company; each new project that is undertaken is done with the firm commitment to lead Panama on the road to economic prosperity for all of its society.