Thursday, July 05, 2007

Ice Tower Reader

For those following Panama real estate trends, here is a collection of links on what is to be the tallest building in Latin America:

F & F properties Ltd., Inc.
The Century Tower
Ave. Ricardo J. Alfaro, Tumba Muerto
9 floor, office 916
Panamá City
Panamá Republic

Tel: (+507) 262 4978 / (+507) 262 0976
Fax: (+507) 279 0565

The company

The Successful promoters of Platinum Tower, Century Tower, Bellagio Tower (Ander construction), Ocean One (comino soon) and the Mirage, F & F Propierties, Ltd., Inc., that mixed luxury, security and comfort, a combination which favours the pleasures of modern living, at excellent prices.

Renown for our prestige, solidity and reliability, and creators of exclusively designed projects with trademark excellent quality, F & F Properties, Ltd., Inc., exceeds the expectations of our clients. We are well aware of the demanding tases of clients who wish to live in an exclusive area at competitive prices. Our track record is Prof. Of our capacity to respond to these demands.

Characterized by our innovate style, F & F Properties, Ltd., Inc., has developed in only a fer years, architecural creations valuing over US $ 250 million, a track record that provides a guarantee for every project we also:
Interview with Saul Faskha, President of F&F Properties more! (Spanish)
Entrevista con F&F Properties

Lo que sí pretendo es ponerme en contacto con alguna cadena hotelera para crear el mejor hotel del país en la Avenida Balboa donde poseemos un terreno para construir un edificio de unos 104 pisos con apartamentos de entre 100 m2 y 200 m2 que podría albergar también un hotel, y cuyo nombre será “ICE”.
El reto de llegar a la cima
Pinzon Lozano architects assume the challenge of designing the Ice Tower.
Whereas amateurs continue to speculate in red-hot "bubble" markets across the American coastline, Panama City is truly one of the greatest real estate investment deals of the decade.... The plans are even in the works for Latin America's largest hotel and condominium project - the 101-story Ice Tower, now under construction on Panama City's prestigious Avenida de Balboa bordering the Pacific Ocean approach to the Canal.... As the city continues to draw yield-hungry investors and bargain-seeking residents, Panama City is quickly becoming the next "big" thing for international real estate investors. ... (Sovereign Society, April 7, 2006)

The Mossfon Report
Another mega building project in Panama City comes with the recent announcement of the construction of the ‘Ice Tower’ by Saul Faskha. This residential skyscraper with more than 100 floors will be a landmark structure, being the tallest residential building in the world and the tallest building in Latin America. Ice Tower will have the same altitude as the Empire State Building in New York City. This project is also slated for completion in 2009. (May 2006)
Is the ICE Tower on ICE?
The developer has somebody to write letters to him...

Mario A. Muñoz, La Prensa
The dream of a US$37.5 million, 104 story and 381 meter-high work vanished. “We are acknowledging buyers' rights and we are reimbursing our clients”, said Verónica Ng, engineer in charge, on behalf of the project, owned by F&F Properties.
Another building will be made "with prices in accordance to market reality."
Pilotec and Cemex Execute 1,150 m3 Concrete Pour at the Ice Tower
Ice Tower "Vanishes" in the local press.
The Real Estate Agents Association called for changes to the law which reduce the risk of buyers when a project is not built. The Consumer Protection Agency is analyzing some of the clauses in real estate contracts.
Consumer Protection Agency informs that real estate companies are modifying their contracts, after Circuit Judge 8 deemed as "abusive" clauses which allow unilateral increases of 5% in price and charges of 1.5% from the moment the occupation permit is issued.
On May 31 the 8th Circuit Court declared "null as abusive" a clause similar to that in Ice Tower contracts which gave preferences to the seller to unilaterally terminate a contract.
Ice Tower sellers only will refund downpayment to promissor buyers who sign quitclaim.
Homes Real Estate announces new Miami office and "their latest exclusive mega project at the party, the Iron Tower, which is set to be located on the trendy Avenida Balboa in downtown Panama City. F & F Properties latest signature construction project will stand 75 floors in height and come complete with a 250 room Hilton Hotel on site. Residential units in the Iron Tower will range between 100 square meters to 200 square meters in size making this one of the largest developments in Latin America. This star studded Grand Opening gala will be held at the Vizcaya Mansion in Miami with a special guest appearance by the face of the Iron Tower project, Paulina Rubio."
Javier Arias reveals that :
Ice Tower denies ever sending a letter to buyers of Ice Tower notrifying of the cancellation of the project,
The project is being reduced to 85 stories because of cost increases,
Buyer Bruce Young was forced by the sellers to sign a quitclaim in order to have his downpayment refunded,
Eng. Veronica Ng denied that a quitclaim was been forced on buyers to get their refunds,
Architects Pinzon Lozano designed a plan for the morphed "Iron Tower" dated July 17, 2007, but the sellers deny their validity.
Mario Munoz from La Prensa reports that one of the projects not approved by the Municipality, "the Iron Tower, the skyscraper which was to replace Ice Tower, was going to have its official launching in Miami this week, but the event was cancelled. The organizers said it had been a mistake.

1 comment:

Anonymous said...

i guess you mean what "was" supposed to be the tallest that it is cancelled!