PANAMA CITY--(BUSINESS WIRE)--The Salsano Group announced today it has acquired 500 hectares of land in Pacora, Panama. The equity deal is worth 125 million USD.
Line 2 of the New Metro will service the area. Highway from Pacora to Chepo will be expanded by the Public Works Ministry (www.mop.gob.pa). A few kms from the project, land prices are 10 times higher (around 250 USD / sq mt)
The legal advisor of the transaction was leading law firm Morgan and Morgan (www.morimor.com)
Mr. Sandro Salsano, chairman and president of Salsano Group commented on the successful closing, "We are very proud that we were able to close this large transaction. We believe in the growth of Panama and we are bullish on Pacora and Chepo. The Government and the MOP are investing in this area in infrastructure as the city of Panama is growing east.”
About Salsano Group
Salsano Group is the holding company of businessman and philanthropist Sandro Salsano. www.salsanogroup.com