Adventure In Panama Hotels

If Khafif sounds propriety about something with Trumps name on it

, its because the project was his idea in the first place. When this Colombian-born developer came up with the plans for the building in 2005, amid Panama Citys real estate explosion, he realized it was too big to be financed without a major-league brand name. Khafif knew that Trump had been in Panama in 2003 for the Miss Universe Pageant, so he asked a mutual friend to set up a meeting in New York. I know the guy has ego and like pretty things and, boom, Panama is exploding. So baby if theres any right time, this is the right time, Khafif recalls, explaining the spirit in which he approached Trump.

The meeting happened in 2005 and Khafif said that he was surprised to learn how much homework Trump had done beforehand. He had done a lot of due diligence. Thats what let me walk through that door; its not easy to walk through that door, Khafif says. Trump already knew that the country was booming, but hates to fly or leave the country.

The contract was signed and the project was launched in New York City in 2006- the same day the authorities back in the Latin American nation announced a dramatic $5.2 million expansion of the Panama Canal. The Trump Ocean Club is partially financed by a $230 million bond offering from Bear Sterns. That bond is now being handled by JP Morgan following the collapse of Bear Sterns in the 2008 global financial crisis. Without Trump, we would have lost our shirt, Khafif admits.

Kent Davis, owner of the real estate agency Panama Equity, says that even the neighbors are excited about the Trump. Its not like having Wal-Mart move in and force out the competition. People are psyched to have Trump in the neighborhood. I even sold a property in a nearby building because the buyer was excited about using the Trump facilities.

by: Trump Ocean Club

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