At N&C Capital we remain relentless in project forecasting and are quick to secure high potential, profitable investments. As such we have strategically aligned four mid-to-high end projects in Panama’s old city; Casco Viejo, with various other opportunities for development still in our foresight. Despite the allure of the newer city, the old city still maintains its’ charm as it remains the heart of Panama, known for its popular night life, restaurants and historic sites.
Casco Viejo was declared a World Heritage site by Unesco in 1997, being a beauty to all those that are fortunate enough to visit. This area is home to a vast number of commercial sites.
Casco Viejo’s legacy of Spanish, French and Colonial America has a profound effect on its overall appeal and attraction, with 800 out of the 940 buildings being protected. Under this, 40% of Casco Viejo has been restored and is expected to increase to 70% in the next 5 years. This area has been drastically uplifted and transformed into a bustling gem, attracting large numbers of tourists, as well as providing desirable updated housing for locals and expats. This pronounced transformation has created a boom, thus the demand to rent and live in this area has skyrocketed. In the past 7-10 years housing has increased 10 fold, and is rented at an average of U$ 3000/month.
At N&C Capital we understand all variables involved when deciphering and developing any project. As such, with added incentives for investors through government policies, this area holds an even greater ROI. Due to Casco’s historical nature there are tax exemptions on property taxes by the ruin seller, along with Capital Gain’s tax deductibles. There are no transfer taxes when selling the property (one time); as well there is a 30 year land and building tax exemption. To add to the already lengthy list of developmental incentives, there is also a 10 year tax exemption on commercial activities.
With laws in place that allow for maximum profitability and affordability, along with a location that already attracts many, it would be beyond our nature to forgo such promising opportunity. With our experience and strong networks in Panama, our investors are confident in their decision to be part of N&C Capital’s projects.