Coco Beach for Life

Beach Lifestyle at Coco Beach

Project Status

When buying real estate, one can not be careful enough. We understand this and therefore we are describing the exact status of the Coco Beach project below. Please remember the below facts:

  1. Coco Beach is a project with in total 32 hectares of oceanfront and oceanview land at a pristine location in Chiriquí, Panama, close to the border with Costa Rica. The project has two phases, phase 1 has 81 fully developed building lots and areas for a planned hotel development and recreational areas, and phase 2 is still open terrain.The land of Coco Beach is fully titled and property of Pacific Lot SA and registered as such in the public land registry of Panama. Coco Beach is registered in Public Registry at the name of PACIFIC LOT, corporation duly incorporated under the laws of the Republic of Panama, entered at Listing number 652 247, Document 1524336 of the Commercial Section of the Public Registry of Panama, duly authorized according as reflected in the Minutes of the board of Shareholders of the Company dated four ( 4) March two thousand eleven (2011). This information you can verify on the internet at (you will have to create your account first).
  2. The project site of Coco Beach is owned by the Panamanian legal entity Pacific Lot S.A. The shareholders of this legal entity are two Dutch investors. Pacific Lot S.A. has no debt except for loans provided by the two shareholders. There are no other external debts, and there is no money owed to banks. The infrastructure (roads, water, electricity) has been fully financed with owners funds.
  3. The site is being developed by developer Panama which is a Panamanian entity under Dutch/USA/Panamanian management that acts as asset manager for Pacific Lot S.A. The CEO, Mr. Henri Kerkhof has dual nationality (American/Dutch). PanamaPortfolio has been active in Panama since 2006 as asset manager and actively manages investments, currently 16 real estate projects at various locations in Panama, for a group of 30 mostly Dutch investors. Among the investors are some of the richest families in The Netherlands. Current market value of the investments under management is approximately US $ 40 million. However, as stated before, Coco Beach is owned by Pacific Lot SA, which is owned by two Dutch investors, and managed by asset manager S.A.
  4. Currently we offer 81 lots in total (phase 01). Including reservations over 70% of the lots is currently either sold or reserved.
  5. In 2019, 81 individual building lots have been registered in the public registry of Panama and buyers did or will receive the deeds to their property thereafter, these individual owners will be registered in the public land registry of Panama. The remaining building lots will receive individual property (finca) numbers and will be registered as well. Then they will be sold.
  6. The Coco Beach project is the only large scale beachfront development in Chiriquí, Panama, which is currently on the market with risk-free lots “ready to build” and ongoing villa development. There is construction of villas at this moment at the project site. Risk-free means that the permitting has been completed, infrastructure has been installed and a buyer receives the land in its name and is registered as legal owner in the official registry of Panama. If the developer should not be able to meet its obligations, the homeowner or lot owner remains the legal owner and has full rights to his property.
  7. 80% of the buyers at Coco Beach are foreign nationals. The current split of buyers (these buyers will be your neighbors) is approximately 45% American, 20 % Canadian, 5% European, 10% other foreign nationals (f.i. India) and 20 % local. Most villas are bought by people planning their retirement or people buying a second home for holiday and investment purposes. 
  8. Land values in Chiriquí are still relatively very competitively priced ($ 70 per square yard for ocean view property ready to build including infrastructure and all permits), relative to > 200-400 $/square yard in Coronado and > 400-600 $/square yard in Panama City.
    The project is located in an area which is rapidly developing, recently f.i. Del Monte closed a deal to invest 100 million $ in the area and David is rapidly growing. Already thousands of new jobs have been created. The area has enormous potential as economic growth is accelerating in Chiriquí, the government is heavily investing in infrastructure and it is close to a deep water port. Also, Chiriquí is a developing tourist destination, the province has beautiful mountains, beautiful beaches,, clear rivers and an abundance of nature including pristine mangrove forests.
  9. Land values for prime oceanfront and ocean view land have doubled over the last 10 years in Panama.
  10. Coco Beach will be developed as a sustainable, beachfront, guarded community development, targeted primarily at (foreign) retirees as well as second home destination of Panamanian families with villas in the price range from USD 199,000 (excluding building lot with an average size of 1390 m2). 
  11. The project has approved zoning permits, building permits, an approved masterplan, and roads. 
  12. The Coco Beach project is connected to the Puerto Armuelles highway by means of a dirt road. The current investors are still discussing with the authorities to replace this road with a tarred road. At the moment it can not be guaranteed that this tarred entrance road will be in place soon.
  13. The design of the amenities has been visualized in the brochures that are available upon request. Detailed information such as construction plans, costs, tender documents are available after signing a Non Disclosure Agreement.
  14. The physical characteristics of the properties soil have been investigated and the results indicated that the first 5 meters of soil have load bearing capacity for house building. This means the soil meets the requirements and there is sufficient load bearing capacity for foundations of villas.
  15. The depth of the underground water at Coco Beach varies between 1.5 and 2 meters. 
  16. The current gravel roads at Coco Beach will receive a fresh top layer when construction at the project is finished
  17. Once a buyer becomes the owner of a building lot he is obligated to build his villa within the predetermined timeframe according to the regulations of the Home Owners Agreement. Building a villa normally takes 12 months if they are custom build. If the houses are part of a larger project building time should be quicker.
  18.  The fees of the Home Owners Association will be 125 $ per month. The services received for this price are:
    – Personnel to pick up your garbage and clean out the various garbage bins around the project
    – Personnel for mowing the lawns and water the trees and plants in the various parks in the community
    – Personnel for keeping all the roads and sidewalks clean from any dirt and/or garbage
    – Personnel on the beach to keep the shared amenities and beach clean 
    – Personnel that 24/7 guards the community
    – Personnel for reparations of any equipment used within the community
  19. The water for the Coco Beach resort will be supplied and tested by IDAAN, a national institution and is potable. Recently a test has been done to determine the water quality and it was found that the chlorine content was a little low. IDAAN will correct this situation. The water quality will be regularly tested by IDAAN. An industrial water meter is installed at the projects entrance. To service the green areas in the project water will be used, which will be billed to the owners, through the agreements within the Home Owners Agreement. Owners are allowed to water their lawns during dry season.
  20. Electricity will be billed directly by the electricity provider
  21. There is no fibre optic cable available at Coco Beach yet. However, as of February 2021 we have commitment from Cable & Wireless that they will start making the fiber connection from the main road in Puerto de Armuelles to Coco Beach. As of now, there is a wireless connection. The current infrastructure at Coco Beach does provide for the future connection of Fiber Optic because there are “open tubes” already in place in the ground. The speed of the wireless internet access will be 25-30 mbit per household which is sufficient for video calling/streaming etc. This is currently the maximum we can receive in the Puerto Armuelles region. Once the networks are upgraded the speed will be upgraded at Coco Beach as well.
  22. According to the HOA (Home Owners Agreement) you are allowed to build a footprint of 30% of the lot surface. Total construction of all building may not exceed 50% of the area. Deviations are possible but have to be agreed by the HOA architect committee.
  23. The following “general” amenities are planned for the resort:
    1. 24/7 security control at the main entrance gate, as well as patrols on the beach and resort boundaries
    2. Hotel and restaurant, the restaurant is available to home-owners
    3. Convenience store on the property
    4. Garbage disposal
    5. Shuttle service to David (On request)
    6. Internal road and infrastructure maintenance
    7. Recycling facilities
    8. Grocery delivery service and pickup point
  24. House designs have to be approved by the architecture committee of the HOA. 
  25. In the unforeseen event that the Coco Beach resort becomes insolvent or if the investors feel it is no longer viable to operate, the home owners rights are specifically described in the HOA. Please note that the Coco Beach project has no bank loans and has wealthy investors backing the project. Also please note that 81 “ready-to-build” lots are registered in the public registry of Panama in 2019. The buyers of the “ready-to-build” land will be the owners and have the right to build. So independent of what happens to the current owners, the future owners will ensure the further development of the project. Again even in the event that the Coco Beach owners become insolvent, you remain owner of the land that you bought and the villa that you constructed. It could however happen in such an event that some of the amenities will not be constructed. To counter this risk we offer the possibility to add “money back guarantees” to your contract which describe the obligations in case the planned amenities are not realized in time. These guarantees will enable you to monitor the project and to get out as soon as certain amenities are not realized or are delayed. The owners are very much committed to the project and want it to succeed.
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