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Trump Plans Panama Canal Project

26 April 2006

PANAMA -- As reported by Reuters: "Celebrity property tycoon Donald Trump plans a joint venture to build a 65-story complex in Panama City as developers ride a wave of excitement generated by a proposed Panama Canal expansion.

"Developers expect an influx of foreign professionals as the waterway undergoes its biggest overhaul in history. A referendum on the Canal project is expected later this year.

"The 2.4 million-square-foot (223,000-sq-metre) Trump Ocean Club International Hotel and Tower will cost more than $220 million and include 500 luxury condominiums, 312 hotel units, a private beach, a marina and a casino, the project's developers said on Tuesday.

"Construction will start this year and be completed in 2009.

"The Trump Organization, Panamanian luxury resort developer K Group and Colombian construction company Arias Serna Saravia will carry out the work…"

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