Over 80% of office space leased at under construction PDE

Phase 1 construction is almost nearing completion
Over 80% of office space leased at under construction PDE

The Panama Diamond Exchange (PDE) notes that over 80 percent of the offices available in the under construction Panama Gem & Jewelry Center has already been leased. Phase 1 of constructing the facility is almost complete.

The Phase I building will serve as the headquarters of PDE, including its administrative offices and 300 square-meter trading floor.

The building provides office space for leasing for up to 59 local, regional and international companies and organizations, and is scheduled for occupation during the fourth quarter of this year. “The construction project is right on target, and we expect to be at full occupancy when the new facility opens for business,” said Erez Akerman, PDE’s President.

“Demand for the still-available office space remains high, although what remains is being quire rapidly depleted. We are urging all those who are interested in gaining a foothold in the complex, which will change the face of the Latin American diamond and jewelry business, to move forward with their plans as quickly as possible.”

The $200 million Panama Gem & Jewelry Center is the largest and most ambitious development project ever undertaken on behalf of the jewelry and gemstone trades in Latin America. It will serve as a trading hub for both regional and international companies, catering to a market that today is worth $8 billion, and comprises 11,500 retail jewelry outlets located in 20 countries and 23 islands. The entire complex will be located in the Vaguil Free Zone, established by an act of the Panamanian parliament for the benefit of the international gem and jewelry trade. The second phase of the project will feature a multi-story tower, in which offices can be purchased. Construction will begin in 2015, with a finish date scheduled for 2017.


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