News & Press

RELEASE

EWM Realtors, a Wholly-Owned Subsidiary of Home Services of America, Inc., a Berkshire-Hathaway Affiliate, Launches The Grand Tower at Pacific Village, Panama City, Panama

484-Unit, 54-Story Oceanfront Tower is Located

In Prestigious Punta Pacifica, Panama City, Panama

Panama City, Panama

Esslinger·Wooten·Maxwell (EWM), Realtors, one of the largest residential real estate today announced the launch of The Grand Tower, a luxury oceanfront condominium project in the prestigious neighborhood of Punta Pacifica, located in Panama City, Panama.

Panama is in the midst of a major construction boom, attracting North Americans and Europeans with prices that in many cases are at least one-half what they would pay for comparable products and services in their home country.

The 460-unit, 50-story The Grand, offers luxury condominium residences priced from US$225,500 to more than $1 million. Units range from 990 square feet to more than 2,500 square feet. The property features one-, two-, and three-bedroom units, and a select number of sky lofts.

"The apples-to-apples price comparisons are astounding," says Ron Shuffield, President and CE of EWM Realtors. "We're talking prices starting in the $200/per square foot range for luxury oceanfront residences. That's less than half of what comparable units are priced for in areas such as Brickell Avenue in Miami, and as little as 10% of the cost of coastal residences along the Eastern and Western U.S. seaboards."

Located in Punta Pacifica, a 4,000 acre master planned community in the heart of Panama City, The Grand is twenty minutes from one of the most modern international airports in the Americas.

The Grand Tower at Pacific Village itself is an intimate seaside enclave in the heart of Punta Pacifica.

"The Grand is an idyllic location," adds Miro Yohoros, one of the development partners. "We are adjacent to some of the country's most recognized condominium residences, and next door to the luxurious Trump Tower. We have no doubt that The Grand is destined to be one of the most desirable destinations in Panama City."

Surrounded by grand views of the Pacific Ocean, The Grand Tower at Pacific Village is minutes from Panama's world-renowned, duty-free shopping, as well as minutes from Marinas that provide access to the country's internationally acclaimed fishing. As part of its amenities package, The Grand is providing a dock area where residents can board their vessel.

One of the many benefits of Panama is its wide scenery. Less than an hour's plane ride from your luxury residence at The Grand are some of the world's most pristine Caribbean beaches. A thirty minute drive has you in a rain forest, and amazingly enough, a twenty minute drive and you're in the Panama Canal.

Every inch of The Grand Tower is impeccably designed to cater to the most discriminating tastes and discerning buyer. An individual who is appreciative of those extra touches of luxury such as stunning views and grand balconies and sleek blue-green glass windows, elegant entrances and 24-hour valet service, and the exquisitely appointed Grand lobby will surely provide the comforts of living in utter style.

Outdoors, lush tropical landscaping adorns the rich oceanfront terrace leading to a lavish infinity pool with cabanas and poolside bar. All interior spaces including the grand lobby and fitness facility have been left in the hands of the innovative design team.

The project is being developed by PACIFIC VILLAGE PROPERTIES, S.A., which include some of the most reputable and recognized names in Central America. These are individuals who have been a part of the infrastructure of Panama City for generations, and have developed ten of millions of dollars of residential and commercial properties.

Every single project led by the team has rapidly sold out and has earned them a stellar reputation for style and luxury. Through their experience and rigorous standards they have raised the bar of condominium oceanfront living.

With near perfect weather year round, Panama is the perfect final destination for those looking to escape during those long winter months. English is spoken as a second language and the people of Panama are some of the friendliest in the world. Panama City has often drawn comparison to the cosmopolitan style of Miami chic with its sprawling urban development and first world infrastructure. Panama is an up and coming destination that is affordable as well as stunning. Today, Panama is considered to be one of the world's top economic, shopping, travel and lifestyle destinations.

And, since Panama is located south of the hurricane track, the country is not affected by tropical storms of major magnitude -- only warm breezes and year-round temperatures in the 80 's.

For more information, on The Grand Tower, in the U.S. call EWM Realtors at 1-888-777-9065 or visit us at www.thegrandtower.com.

TOWER

THE GRAND TOWER FACT SHEET LOCATION

The Grand Tower

DEVELOPER

The developers of Pacific Village and The Grand at Pacific Village, PACIFIC VILALGE PROPERTIES, S.A., include some of the most reputable and recognized names in Central America.

Pacific Village Properties who is the Developer for The Grand Tower, Has been involved in several real estate development over the last 10 years. The most important development so far has been the construction of Pacific Point a gated community with 5 high rise towers and 4 low rise villas. Altogether Pacific Point has over 2.6 million sq feet in construction, with almost half of it already delivered or in process. Pacific Village Towers I and II are also an important development on the way; we have started these two fifty story building to be completed by November 2,008.

The group has also been involved in office and commercial developments.

Other than Pacific Point and Pacific Village we are developing three other towers to be built in the next three years. By the end of 2,010 we expect to have built over 6 million sq feet of luxury residential properties.

ARCHITECT

Pinzón Lozano - Asociados Arquitectos, Panamá City, Panamá.

INTERIOR DESIGNER

COMPLETION

AGOSTO 2009

UNIT PRICES

US $225,500 - US $1millon

BUILDING AMENITIES

460 units/50 stories
Elegant porte-cochere entrance with 24-hour valet services
Exquisitely appointed Grand lobby
24-hour concierge
7 levels of covered and secured garage parking
Mail and package receiving desk
Lushly landscaped oceanfront terrace with infinity swimming pool, spa, cabanas, poolside bar and pool attendants
State-of-the-art fitness center and resident's health spa

RESIDENCE FEATURES

Private elevator foyers
Panoramic ocean and city views
Expansive balconies with sleek blue glass and aluminum railings
Pre-wiring for television and cable hookup
Multiple telephone line capability for the convenience of computer, facsimile, and modern connections
Floor-to-ceiling windows
Stainless Steel appliances
European designed kitchens
European cabinetry with granite countertops in kitchens and bathrooms
Designer kitchen and bathroom fixtures
From 710 – 3,000 sq. ft. of living space

BRIEF DESCRIPTION

Situated directly on the Pacific Ocean, The Grand Tower is rising in one of Panama City’s most prestigious neighborhoods. Created by one of the country’s most experienced development teams (PACIFIC VILLAGE PROPERTIES), The Grand Tower has been carefully designed to cater to the most discriminating buyers. The 50-story building with 460 units, features a lushly landscaped oceanfront terrace with infinity swimming pool, spa, cabanas, and poolside bar, and a state-of-the-art fitness center, and professional concierge and security services. For additional information contact EWM at 1 888-777-9065 or visit

www.grandtowerpanama.com.