ABOUT THE PROJECT

What is Gran Central?

Gran Central is a landmark mixed-use development that is redefining urban living in Panama City. It's an "urban village" featuring four mid-rise residential and hotel buildings connected by a pedestrian-friendly street grid.

We are creating a welcoming district designed for a higher quality of life, offering unexpected experiences and inspiring connections. Our vision is to create a place where locals and temporary locals from all over the world can live, stay, celebrate, taste, discover, recharge, and connect.

Why is it "The Best of Both Worlds"?

Gran Central offers the best of the historic district lifestyle—charming, walkable, and surrounded by culture—with the conveniences of a modern city, including easy access and parking. It's the perfect fusion of classic style and modern amenities, located at the crossroads of a city that is itself at the crossroads of the world.

What makes this project different?

Gran Central is in a category of its own, distinguished by five key differentiators:

• Best of Both Worlds: We offer the vibrant lifestyle of Casco Viejo with modern amenities, convenience and easy access.
• Urban Village Concept: Gran Central is not just a single building but a complete, walkable district that reconnects a historic street grid and where everything you need is just steps away.
• Unmatched Amenities: Gran Central's horizontal layout allows for expansive rooftops on every building, providing ocean and skyline views for amenities like co-working, gyms and social areas.
• Part of a Long-Term Vision: Gran Central is the next chapter in the historic district's revitalization, catalyzing the rebirth of Panama's most iconic street.
• Conservatorio Reputation: With a 20-year track record and the backing of some of Panama's strongest financial partners, Conservatorio is renowned for high-quality urban transformations and placemaking, as seen in iconic projects like the American Trade Hotel and Santa Familia.

LOCATION & NEIGHBORHOOD

Is Gran Central part of Casco Viejo?

Gran Central is proudly situated within Panama City's historic Santa Ana neighborhood, two blocks from the UNESCO World Heritage Site of Casco Viejo. This gives our residents immediate access to the charm and history of Casco while enjoying the modern design and amenities of a new development.

Where is Gran Central located?

Our project is located on a one-hectare site in Santa Ana, at the vibrant edge of Casco Viejo. It is bordered by Avenida Central, Calle 17, Avenida B, and Calle Colon, directly across from the bustling Mercado San Felipe de Neri. This central location means you are just minutes away from the city's key attractions, including the Financial District, the Panama Canal, and Tocumen International Airport.

Is the area safe?

Panama is one of the safest countries in Latin America, where the country's wealthiest people feel comfortable walking the streets. Even so, the district will have cameras and private security 24/7.What other projects are happening in the area?

The government has been investing heavily in the area around Gran Central, with a number of new projects recently announced. Two highly successful restaurants recently opened next to Gran Central.

What is the government doing to develop the area and its surroundings?

The government has been actively supporting the development of the historic district for over 20 years, with many recent investments in the area surrounding Gran Central.

BUILDINGS & AMENITIES

How many buildings will Gran Central have?

Gran Central will feature five distinct buildings: four residential buildings with unique characters and one internationally flagged boutique hotel. The buildings include:

• Bungalo La Central: Fully furnished apartments designed and licensed for short-term rentals.
• La Unión: Residential apartments ideal for long-term living or monthly rentals.
• Central 8: Tropical-modern apartments perfect to live in or rent.
• The Wesley: Apartments designed for owner occupation and long-term rentals.
• Hotel Gran Central: A 175-room hotel with stunning skyline views.

Will I be able to have parking, and how will it work?

Yes, parking is a key convenience at Gran Central. We offer underground parking where residents can take access-controlled elevators directly to their apartments. In La Unión, every two-bedroom, two-bathroom unit includes a dedicated parking space. For guests, a valet parking service will be available, operating the 120 parking spaces designated for the commercial areas.

Will the district have commercial locales

What kind of businesses?Yes, Gran Central will be a vibrant commercial hub with over 65 storefronts.

The ground-floor retail will be dedicated to "neighborhood commerce"—businesses that are compatible with residential life and serve the daily needs of the community, such as pharmacies, mini-supers, and cafés. Late-night establishments will not be permitted to ensure a peaceful environment.

Will you have "Airbnb-friendly" options?

Yes. We offer buildings tailored to different rental needs:

• Bungalo La Central is specifically designed for investors seeking a turnkey solution for short-term rentals (like Airbnb). These apartments are fully furnished, fully serviced, and have the required tourism permits.
• La Unión is designed to foster a sense of community and is intended for residents and monthly-to-long-term rentals. Nightly rentals are not permitted in this building to preserve a peaceful living environment.

ABOUT THE DEVELOPER

Who is the developer and what is their track record?

Gran Central is being developed by Conservatorio, a B-Corp certified company with two decades of experience dedicated to the sustainable and thoughtful revitalization of Panama City's historic district. Conservatorio has successfully delivered nearly 20 projects in the area, including landmarks such as the American Trade Hotel, Santa Familia, and Casa Korsi, earning an unmatched reputation for quality, transformation, and placemaking.

LIFESTYLE & LIVING EXPENSES

What is the "urban village" concept at Gran Central Panama?

The "urban village" concept is the soul of Gran Central. Instead of an isolated tower, we've designed a human-scale district where multiple, distinct buildings are connected by a network of internal pedestrian streets, plazas, and gardens.

This fosters a warm, walkable community where serendipitous encounters and genuine connections happen effortlessly—a vibrant neighborhood life that stands in thoughtful contrast to the cold, car-dependent nature of conventional high-rise living.What are the wellness amenities available to residents at Gran Central?Wellness is woven into the very fabric of the community. Gran Central offers an unmatched set of amenities designed to help you recharge and thrive, including:

• Guests at Bungalo La Central Wellness Courtyard will enjoy access to infrared saunas, a calisthenics garden, treatment rooms, and a yoga studio.
• Resort-style Rooftop Pools, including a spectacular 35-meter lap pool at La Unión, perfect for both exercise and relaxation. Bungalo La Central Rooftop Resort will include a 15 meter pool and a restaurant.
• La Unión's private gym, which includes running and rowing machines, free weights, and dedicated spaces for outdoor yoga and calisthenics.

Is Gran Central a good place for pet lovers? Are there pet-friendly amenities?

Yes, Gran Central warmly welcomes you and your furry family members. We understand that pets are central to a joyful life.

Our regulations allow for up to two domestic pets per residence, and we've integrated thoughtful amenities directly into our master plan, including a dedicated, fenced-in Dog Run and a Pet Spa with washing and grooming stations.

Can I live a car-optional lifestyle at Gran Central?

Absolutely. A car-optional lifestyle isn't just possible here; it's encouraged. Gran Central is designed to be a walkable district where everything you need—from fresh markets to cafés to cultural venues—is just steps from your door. To make it even easier, we've included a Mobility Hub with bicycle storage and charging stations, a scooter hub, and convenient rental car services.

What makes the rooftop at La Unión special compared to other buildings in Panama City?

The rooftop at La Unión is, simply put, a showstopper. We dare call it a resort that makes hotels jealous. It's perhaps the most spectacular rooftop in the city, offering breathtaking, sweeping views from the Pacific Ocean to the historic steeples of Casco Viejo. But it's more than a view; it's a sprawling social oasis featuring a 35-meter lap pool, a chic poolside lounge, a dynamic co-working space, a full gym, and a kitchen and bar for entertaining. It's an amenity set designed for a life beautifully lived.

How does Gran Central incorporate nature and green spaces into its design?

We believe that nearness to nature is essential for well-being.

Gran Central is envisioned as a "garden city," where lush vegetation is woven throughout our plazas, alleyways, and rooftops. Residents frequently tell us how much they love the greenery in our designs.

This vision is brought to life with features like the rooftop vegetable garden at The Wesley and is sustained by eco-friendly systems like rainwater harvesting, which nourishes our extensive gardens.

What kind of community events can residents expect at Gran Central?

Gran Central is being built to foster a deep sense of belonging. Our spaces are designed for connection, and we plan to host a vibrant calendar of events to bring neighbors together. Imagine curated cultural salons, family-friendly picnics in the plazas, wellness workshops, and collaborations with local artists and chefs that make the entire district feel like home.

What are the "Sanctuaries" in the Gran Central buildings?

The Sanctuaries are one of our most thoughtful features—private, exclusive lounges for the residents of a specific building. Inspired by the beloved library and social space at our acclaimed Santa Familia project, each Sanctuary is a beautifully designed haven where you can relax, work, or build community with your immediate neighbors, away from the public areas.

INVESTMENT & FINANCIALS

Why is Gran Central considered a smart real estate investment in Panama City?

Gran Central is positioned at the intersection of lifestyle and opportunity, making it a uniquely compelling investment:

• Proven Market Appreciation: The project is a direct extension of the Casco Viejo historic district—the only real estate market in Panama City that has consistently and significantly appreciated over the last 20 years.
• Ground-Floor Opportunity: It presents a rare chance to invest early in the transformative revitalization of Avenida Central, spearheaded by Conservatorio, the very developer that drove Casco's success.
• High Rental Demand: The project is intelligently designed to capture Panama's booming tourism market, with a flagged hotel on-site and rental-friendly units that address a major undersupply of accommodations in the city's historic, attraction-rich west side.
• Unmatched Value: Gran Central is priced competitively with projects in less inspiring neighborhoods, yet it offers the potential to achieve Casco-level prices and rental yields as the area transforms.

What is the historical price appreciation of real estate in Casco Viejo and Santa Ana?

The data speaks for itself. Historical analysis shows a dramatic difference in property values and growth trajectories.

The mean price point in San Felipe (the heart of Casco Viejo) is $539,136, compared to $198,243 in Santa Ana, the neighborhood where Gran Central will serve as the primary catalyst for growth.

Furthermore, a 20-year trend chart shows that Casco Antiguo's price per square meter has experienced a much steeper and more consistent appreciation than other prime Panama City neighborhoods like Punta Paitilla and Punta Pacifica.

Are there lock-off apartments available in Gran Central to maximize rental income?

Yes, maximizing rental flexibility and yield is a core part of our design strategy. We offer optional lock-off layouts in our two- and three-bedroom apartments in La Unión and in two-bedroom units in Bungalo La Central.

This smart feature allows you to rent a portion of your unit separately, significantly enhancing its income potential.What are the expected maintenance fees for an apartment in La Unión?For La Unión, we project the maintenance fee to be approximately $3.50 per square meter.

This comprehensive fee not only covers the administration and upkeep of La Unión's private amenities (like its pool, gym, and co-working space) but also contributes to the immaculate maintenance of the shared streets, plazas, and security of the entire Gran Central district.

Which building in Gran Central is best for short-term rental investment?

For investors focused on maximizing returns from the short-term rental market, Bungalo La Central is the definitive choice. It is purpose-built and legally permitted as an aparthotel, with all the necessary licenses from Panama's Tourism Authority for hassle-free nightly rentals.

Bungalo offers a completely turnkey solution, with beautifully furnished units and professional, in-house management designed to deliver pure return on experience.

Does Conservatorio have a track record of delivering profitable real estate projects?

Absolutely.

Conservatorio has an unmatched, 20-year reputation for visionary urban transformation. We are the developers who pioneered the revitalization of Casco Viejo, which has become the most consistently over-performing real estate investment in Panama City.

Our landmark projects, such as the American Trade Hotel and Santa Familia, stand as testaments to our commitment to quality, placemaking, and creating lasting value.

What type of financing options are available for buyers at Gran Central?

The project is robustly financed by Conservatorio, private investors, and leading local institutions like Banco General. For our buyers, our dedicated sales team is happy to discuss flexible and personalized payment plans. We are committed to making ownership accessible and are actively seeking ways to secure favorable financing for our diverse range of buyers, including qualified independent professionals.

THE NEIGHBORHOOD & PANAMA

What is it like to live in the historic district of Panama City?

Living in the historic district is an experience of everyday magic. It's a "timeless, walkable way of life" where you are surrounded by charming architecture, vibrant culture, and a palpable sense of history. At Gran Central, we've taken this incredible essence and elevated it with modern amenities and conveniences, creating the perfect balance—the "Best of Both Worlds." It's a life rich with flavor, connection, and discovery.

How far is Gran Central from the main tourist attractions in Panama City?

Gran Central sits at the heart of it all. You are just minutes away from the country's most iconic destinations.

By car, it's a mere 4 minutes to Casco Viejo, 9 minutes to the Financial District, 13 minutes to the Biomuseo, 15 minutes to the Panama Canal, and 30 minutes to Tocumen International Airport. Even better, countless plazas, museums, markets, and theaters are just a short, delightful walk away.

What are the best shops and restaurants within walking distance of Gran Central?

An incredible world of flavor and discovery awaits you just outside your door. You'll be within a few minutes' walk of the bustling Mercado San Felipe Neri for the freshest produce and the Mercado del Marisco for seafood. The neighborhood is a food lover's paradise, home to celebrated restaurants like Fonda lo que Hay and Kaandela, authentic gems like Kwang Chow, and dozens of other local eateries, all within a short stroll.

How is Avenida Central being revitalized, and what is Gran Central's role?

Gran Central is the cornerstone of Avenida Central's rebirth. Our vision is to reawaken this iconic avenue, once the vibrant, beating heart of Panama City, and transform it into a landmark destination for the 21st century.

By creating a beautiful, safe, and engaging pedestrian-focused district, Gran Central will be the catalyst that brings new life, energy, and excitement back to this historically significant street.

Is Gran Central a good option for someone moving to Panama for the first time?

Gran Central is an exceptional choice for newcomers to Panama. It offers a soft and inspiring landing by providing the "Best of Both Worlds": the authentic culture and community of the historic district combined with the security, comfort, and unmatched amenities of a brand-new development. One of our core focuses is on people in transition, who are looking to reinvent themselves and find a welcoming community.

Gran Central provides exactly that—a supportive, vibrant, and deeply connected environment to begin your new life in Panama.How does the lifestyle in Santa Ana differ from other neighborhoods like Costa del Este?The lifestyle at Gran Central in Santa Ana is a deliberate and welcome departure from other parts of the city. We celebrate:

• Walkability & Community: A "car-optional" life defined by warm community connections, versus the "car-dependent," isolated feel of high-rise living.
• Authenticity & Creativity: A thoughtful, culturally rich environment that values real-life experiences over a "consumeristic and ordinary" existence.
• Timeless Architecture: The classic charm of mid-rise buildings with warm, textural materials instead of impersonal glass curtain-wall towers.

PROJECT SPECIFICS & THE DEVELOPER

What is Conservatorio's philosophy on urban development?

Conservatorio's philosophy is rooted in creating places that matter. As a certified B Corporation, our commitment goes beyond construction; we are dedicated to sustainable urban revitalization that generates a higher quality of life, fosters inspiring human connections, and builds lasting social and financial value. For 20 years, our passion has been placemaking—breathing new life into historic areas and transforming them into the most beloved and vibrant neighborhoods in the city.

How is Gran Central designed to be sustainable and eco-friendly?

Sustainability is not an add-on; it's fundamental to our design. Gran Central incorporates several key eco-friendly features to reduce our footprint and enhance your freedom:

• Renewable Energy: Rooftops will be fitted with solar panels to significantly reduce the project's carbon footprint and energy costs.
• Resource Efficiency: Every building is designed with resource efficiency in mind, as demonstrated in past projects like Santa Familia, which earned EDGE Certification for its energy and water savings.
• Intelligent Waste Management: Every building includes dedicated rooms for mandatory recycling. An on-site biodigester will even convert organic waste into natural fertilizer for our gardens.
• Passive Design: We've designed hallways with natural ventilation, which saves electricity, lowers maintenance fees, and improves air quality for all residents.

What is the difference between living in Bungalo La Central versus La Unión?

The two buildings are designed to offer two distinct, exceptional lifestyles:

• Bungalo La Central is perfect for the lifestyle-focused investor. It's an aparthotel concept where units come fully furnished and are professionally managed for short-term rentals. It's a turnkey, hassle-free investment designed to generate income while offering you a stunning place to stay when you desire.
• La Unión is designed for those seeking a home and a stable community. It is intended for long-term residents and monthly rentals, with nightly rentals prohibited to preserve a peaceful, neighborly atmosphere. It offers more flexibility for owners who want to live in their apartment or manage it themselves for longer stays.

ABOUT PANAMA

What language is spoken in Panama?

Spanish is the official language of Panama. However, English is widely spoken in business settings, tourist areas, and by many professionals, especially in Panama City.

Many Panamanians are bilingual, making it easy for English-speaking residents and visitors to navigate daily life.

What currency is used in Panama?

Panama uses the US Dollar (USD) as its official currency, alongside the Panamanian Balboa, which is pegged 1:1 to the dollar. This makes financial transactions simple for US residents and eliminates currency exchange concerns for American investors.

What is the climate like in Panama?

Panama has a tropical climate with two main seasons: the dry season (December to April) and the rainy season (May to November). Temperatures in Panama City typically range from 75-90°F (24-32°C) year-round. The country enjoys consistent temperatures with high humidity, making it ideal for those who prefer warm weather.

What are the residency and visa requirements for Panama?

Panama offers several residency programs for foreigners, including the Friendly Nations Visa for citizens of specific countries, investor visas, and retirement visas (Pensionado) for those with qualifying pensions. Many programs allow for relatively straightforward residency applications. For specific requirements based on your situation, we recommend consulting with a qualified immigration attorney.

Is Panama politically stable?

Yes, Panama is considered one of the most politically stable countries in Central America. It has a democratic government, peaceful transitions of power, and strong institutions. The country has maintained political stability since the end of the military dictatorship in 1989 and has a track record of respecting property rights and foreign investment.

What is the cost of living in Panama compared to the US?

The cost of living in Panama is generally 30-50% lower than major US cities, though this varies by location and lifestyle. Housing, dining, and services are typically much more affordable, while imported goods may cost similar to US prices. Panama City offers excellent value for those seeking a high-quality lifestyle at a fraction of the cost of major international cities.

What is Panama's healthcare system like?

Panama has both public and private healthcare systems. The private healthcare sector is well-developed, with modern hospitals and clinics in Panama City that meet international standards. Many doctors are US or European-trained and speak English. Healthcare costs are significantly lower than the US while maintaining high quality of care.

What are Panama's tax benefits for residents?

Panama offers territorial taxation, meaning residents only pay taxes on income earned within Panama.

Foreign-sourced income is generally not taxed. Additionally, there are various tax incentives for retirees and specific investment programs. However, tax situations vary by individual circumstances, so we recommend consulting with a qualified tax advisor familiar with Panama's tax laws.

How easy is it to travel to and from Panama?

Panama is excellently connected internationally through Tocumen International Airport, which serves as a major hub for Latin America. The country has direct flights to most major US cities, as well as destinations throughout the Americas and some European cities. Panama's strategic location makes it an ideal base for exploring both North and South America.

What makes Panama attractive for international residents?

Panama offers a unique combination of modern infrastructure, political stability, favorable tax policies, tropical climate, and strategic location.

The use of the US dollar, widespread English proficiency, excellent healthcare, and strong expat communities make it particularly appealing for North American and European residents seeking a high quality of life at an affordable cost.

CONTACT INFORMATION

Who should I contact if I'm interested in buying a property?

Our sales team would be delighted to help you. Please contact:

• Patrizia Pinzón: patrizia@conservatoriosa.com
• Orizabel Plicett: orizabel@conservatoriosa.com
• Sales Manager: (507) 6977-2079

Is it possible to pre-lease commercial space? Who should I contact?

For commercial space pre-leasing inquiries, please reach out to our primary sales contacts, Patrizia Pinzón or Orizabel Plicett, who can direct your inquiry to the appropriate team member.