Roca Milagro Residential Estate
Roca Milagro, translated from Spanish as Miracle Rock, is a residential housing estate ready for development in the mountains of Panama. With dormant Volcan Baru as a dramatic backdrop, the site is stunningly beautiful.
Roca Milagro is a 44-hectare (108-acre) housing estate which has partially developed infrastructure, and is ready for an established development company to take over the project and run with it through to completion.
It has solid potential to provide a very lucrative return and help a housing development company establish a strong foothold in the growing Panamanian residential housing market.
Roca Milagro was planned as an exclusive housing estate with 108 lots and 7 green or common areas. It includes 2 internal streams and is flanked by the Rio David.
The current subdivision housing lots range in size from 1000sqm to 9000sqm, with one green area having a 20 000 sqm area, but this property is ideally suited to new subdivisions with a greatly increased housing density. It could be easily increased to up to 330 lots for a modern housing development or up to 660 lots for a retirement community.
108 - 660
* LOTS TO BUILD ON
SQM FOR GREEN AREAS
COST PER SQM
$111 - $444
GROSS DEVELOPMENT VALUE PER SQM
- 108 LOTS AS PER CURRENT SUB DIVISION
- 330 LOTS AT 1000 SqM/LOT
- 660 LOTS AT 500 SqM/LOT
$49.9m - $199m
Zoning and Current Status
The Roca Milagro Estate has already been zoned and approved for residential housing. It has been subdivided into 115 lots: 108 for houses and 7 allocated for green and common areas.
It already has the internal roads built but just awaits tarring. Conduits for water and power have been installed, and drainage on either side of the roads has been completed. Street lampposts, fire hydrants and transformers have been purchased and are on site, but haven’t been installed.
The Perfect Location
It is near the village of Rovira Arriba and the larger towns of Boquete and David. The Rio David flows along much of one side of the property and two lazy streams meander through the middle of the development. There are large green areas, including a 400-tree orange grove and a patch of pristine rain forest set aside for the enjoyment of the residents.