Donald Trump Launches Luxury Tower in Panama

NEW YORK – New York real-estate mogul Donald Trump announced this week that he is embarking on a project to build a $220 million luxury hotel tower and marina called Trump Ocean Club in Panama City.

The 65-floor tower, being built in conjunction between the Trump Organization and Panamanian developers the K Group,will house 500 condominium units and 300 hotel rooms, as well as a casino, marina and beach club, among other luxury hotel amenities.

The development project will be the first Trump investment in Central America. “With this urbanization we will establish a new standard of luxury never before seen in Latin America,” Trump said in a company press release. “The Trump Ocean Club, International Hotel and Tower will make a magnificent and special contribution to Panama City, one of the most dynamic cities in Latin America.”

Trump reportedly first fell in love with Panama while hosting the Miss Universe pageant there three years ago.

The Trump Ocean Club Panama will be located oceanfront near the Financial District, 15 minutes from the airport, according to the press release.

It is scheduled for completion in 2009.