Aerial view of Naos Island, at the Pacific entrance of the Panama Canal.

One of the most precious assets which reverted to Panama along with the Canal when the U.S. pulled out at the end of 1999, the Amador Causeway and its islands, is about to realize its potential with a major hotel and condominium complex, Naos Harbour Island. The project's ground-breaking ceremony took place in late October.

The causeway, running alongside the channel leading into the Pacific entrance to the canal, forms four small islands, Flamenco, Perico, Culebra and Naos.

On Naos, in a superb location ( where Manuel Noriega built a luxurious club for his officers) the Naos Harbor Island mega-project has now been launched by Grupo MSG, a Panamanian group dedicated to import, export, real estate and tourism.

The project's ground-breaking ceremony. From left to right: Ignacio Mallol (architect), Olmedo Alfaro (Director of Interoceanic Region Authorithy), and Marcos Shrem (President of the Project).

The project, which envisages an investment of U.S $30 million, will include a 300 room hotel and an apartment hotel with a further 114 rooms, all not only with ocean view, but with the Bridge of the Americas, the whole of Panama City and the infinite variety of ships entering the canal passing almost within a stone’s-throw. A casino and commercial area and villas will complete the mix.

A breakwater and beach will be constructed in front of the hotel. The water off Naos is especially clean since millions of gallons of fresh water from Gatun Lake flow down past the island from Miraflores Locks each day.

Apartments and villas are offered for outright sale or on a fractional ownership basis – a concept which formalizes the idea of a group of relatives or friends pooling their resources to buy a second home or getaway place.

The Venetto is the newest of the banking district.

When nobody thought there could be space for another major hotel in the heart of Panama City’s financial district, Veneto Hotel & Casino arrived. A group of journalists and members of the tourism industry were present at the official launching of this large leisure complex, which towers over Avenida Manuel Espinosa Batista. Its managers and staff are expecting their first guests on Monday, November 14.

Veneto Hotel & Casino boasts 301 luxury bedrooms on17 floors, which also include a business center, four restaurants, three bars, conference rooms, a modern spa and a large, Las Vegas-style casino (4,000 square meters) –all of this built with an investment of US$40 million.

Executive staff of Venetto Hotel & Casino. From left to right: Roberto Hollington, Lance Wilson, Moisés Hasky, Alberto Btesh, Kay Marquardt.

The new hotel is in a strategic location: a few steps from Vía España, a thoroughfare lined with dozens of exclusive stores, boutiques, restaurants and supermarkets not far from major shopping malls (Albrook Mall, Multicentro and Multiplaza), the bazaar ambiance of Avenida Central, major expressways (the "North" and "South" expressways), entertainment centers and public transport terminals (Marcos A. Gelabert domestic airport and the Gran Terminal de Transporte bus station.)

301 deluxe rooms.