The new regional headquarters for CAF – Development Bank of Latin America and the Caribbean, located in downtown Panama City, is attracting developers and property buyers to a revitalized neighborhood. This six-story building in the Obarrio district is set to become the centerpiece of a new “superblock” designed to enhance walkability and public spaces. The innovative urban area will feature a diverse mix of retail, social, and cultural experiences, marking a first for the capital of Panama.
“We’ve seen a real surge in interest in the area since the CAF building was announced,” says Duncan McGowan, President of Punta Pacifica Realty (PPR). “It has made Obarrio a hot neighborhood for buyers and investors.
PPR is promoting MOVA by B&B Italia, a fresh development located right across the street from the CAF headquarters. This project features 285 upscale condominiums spread across a trio of buildings. MOVA by B&B Italia embraces the vibrant neighborhood atmosphere, blending residential, commercial, and hospitality spaces, all with interiors designed by the iconic Italian firm known for its contemporary style.
The ongoing development of the CAF building has sparked quite a bit of conversation among potential buyers of MOVA, who mostly consist of professionals and young families eager to remain close to everything, according to PPR’s managing director, Jeff Barton.
“MOVA is redefining the urban experience in Panama City,” Barton says. “The presence of the CAF headquarters provides the foundation for a neighborhood perfect for people who want to experience the best of city living.”
MOVA, designed by George Moreno & Partners in collaboration with Mallol & Mallol Architects, emerged victorious in a public competition to create the new headquarters for CAF. The final design boasts over 4,000 square meters dedicated to public and cultural spaces. It is crafted to achieve LEED certification, incorporating several sustainable design features, such as a green roof and a rainwater collection system.
The revitalization of the area where the new CAF offices will be situated aims to foster social development, encourage community engagement with the spaces, and enhance cultural activities in Panama City, according to Sergio Díaz-Granados, executive president of CAF, in a recent statement.
“We want this work to become an essential part of social and cultural life, beyond the contribution to the economic reactivation of the country and the adequacy of the institution to provide a better service to Central America, the Caribbean, and the Andean region.”
