The PIMM signature is soon to become a familiar sight in Panama. Photo by Seeta T. Shaw Roath

Panama City is considered a world-class logistics center. Manufacturers and wholesalers investing in PIMM will benefit from the many logistics services offered here.

Visiting the location for the commercial city of PIMM, H. Top Hotel executives examined how their hotel will fit into the PIMM Butterfly. Reynald Katz, founder and CEO of Panama International Merchandise Mart (PIMM) and Jose Caselles Pomares, Director General of the International Division of the H. Top Hotels and Resorts finalized the deal. Photo by Seeta T. Shaw Roath

The PIMM Butterfly, site where the commercial city will be located, is surrounded by nature - hills, rain forest, and the not so distant Lake Gatun. Photo by Seeta T. Shaw Roath

Top officials of the H.Top Hotels and Resorts Group of Catalonia, Spain, have pledged to invest $50 million in a five-star hotel to be constructed by PIMM, with the completion date expected to be 2010. This 300-room hotel will be equipped and operated by the Spanish company.

Visiting the location for the commercial city of PIMM, H. Top Hotel executives examined how their hotel will fit into the PIMM Butterfly. This five-star hotel will be located at the top of the butterfly holding the position as one of its antennae.

Giving full responsibility for its construction to Reynald Katz, the Director General of the International Division of the H.Top Hotels and Resorts Group, José Caselles Pomares, expressed confidence that this hotel will be the best hotel in PIMM city. Katz said that he is honored by the confidence placed in his ability to achieve the construction standards of the five-star hotel and is sure that H.Top Hotels and Resorts will be satisfied by the work of the Panamanian contractors.

H.Top Hotels and Resorts is a group of Spanish hotels famous for providing first-class services that is uniquely Spanish yet meets needs of a global clientele. Director General Pomares indicates that this expansion into Panama signals the beginning of a long fruitful relationship with Panama, the Panama International Merchandise Mart and with Reynald Henry Katz himself.

Other investment opportunities in PIMM
In addition to opportunities in the hotel sector of PIMM, investment opportunities exist in concessions for restaurants, casinos, convention and exhibition centers. Reynald reiterated that there is no tax from profits in Panama and the PIMM is estimated to involve over 566 million consumers of Latin America and the Caribbean.

Speaking about trading on the Panama Stock Exchange, Katz indicates that a private placement offering is currently underway, and an Initial Placement Offering will commence in 2009. “A private placement is also currently underway and an IPO is scheduled for 2009,” reiterated Katz.

“We still have more showrooms for rent or purchase. The price for a showroom starts from as low as $125, 000,” said Katz who indicated that financing is available. Manufacturers can purchase or rent showrooms, entire pavilions, offices and condominiums. Katz also pointed out that the ROI per showroom is estimated to be over $2 million.