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New luxury development announced in Panama

New luxury development announced in Panama

Pearl Island, a new luxury development based just outside Panama is the latest project designed to lure the world's super rich into investing.

Only an hour by boat from booming Panama City, which is politically stable and offers excellent tax propositions, Pearl Island will have a select number of plots available as well as cliff-top ocean-fronting villas. The plots will range from 1-2 acres in size and can be developed to create bespoke homes subject to the island's already established architectural and landscape guidelines. In addition, a limited number of two, three and four bedroom villas will be built on the cliffs around the island's hub- the beach club.

Boasting fourteen white sand bays discreetly scattered between 3,000 acres of tropical rainforest and one of the most spectacular ecosystems in the world, Pearl Island is also home to an array of treasured species including humpback whales, over 700 species of tropical fish, turtles and rare iguanas. According to the developers much effort has been made to preserve the natural eco systems and 75% of the island will go untouched. There are also plans to instigate a not for profit Island foundation funded by the sales of the homes which will work on conservation projects.

Among the A-list features a gym, kids' club, tennis courts, state of the art equestrian centre, ocean-front beach club, spa and marina. Early release 2011 lot prices range from $800,000 to $2 million.

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