Trump Ocean Club International Hotel and Tower
|Trump Ocean Club|
Trump Ocean Club, Panama
|Location||Punta Colon, Punta Pacifica, Panama City, Panama|
|Roof||284 m (932 ft)|
|Floor area||252,000 m2 (2,710,000 sq ft)|
|Design and construction|
|Architect||Arias Serna Saravia S.A.|
|Developer||Espacios Urbanos, K Group, Trump Organization|
The project was developed by Colombian architects Arias - Serna - Saravia S.A. The building is situated on a beachfront lot with views of the Pacific Ocean and Panama Bay, in the area of Punta Pacifica. The building was developed by real estate tycoon Donald J. Trump of the Trump Organization and Mr. Roger Khafif, President of the K Group, (a Panama resort developer). The project includes 369 hotel condominium units, 700 condominium units, 1500 parking spaces, retail shops, casino, use of a private beach club on Viveros Island, yacht club and pier, wellness spa, gym, pool deck, meeting and event spaces, and a business center.
The hotel opened July 6, 2011. On September 21, 2011, it was indicated by Bloomberg.com that Fitch Ratings downgraded $220 million in bonds that Newland International Properties, Corp. is using to finance construction of the Trump Ocean Club in Panama. The downgrade to CCsf from B-sf, resulted from “continued uncertainty over the willingness and ability” of buyers to take possession of apartment units, according to Fitch documents.
Sun International plans to open a 75,000-square-foot (7,000 m2) casino at the property with 600 slot machines and 32 table games in mid-2014. The company paid $45.5 million for the rights to the space, and will spend another $60 million to develop it.
- "Trump Ocean Club International Hotel & Tower". Skyscraperpage. Retrieved 2011-07-20.
- "Arias Serna Saravia". TrumpOceanClub.com. Retrieved 2013-11-11.
- Sabo, Eric (2011-09-21). "Fitch Downgrades Trump Hotel Builder in Panama, Citing Defaults". Bloomberg L.P. Retrieved 2012-10-02.
- Trump Ocean Club International Hotel & Tower Panama (November 29, 2012). "Trump Ocean Club International Hotel & Tower Panama announces Sun International as casino operator" (Press release). Retrieved 2012-12-04.
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