How would you assess performance the last few years and thus far into 2018?
JOSE RAMÓN ICAZA C. Once again Marazul had positive results mainly from the hospitality and residential construction sectors; we were able to complete a high-end residential project in Santa Maria (Casablanca) and came close to completion of The Santamaria Hotel and Santa Maria Court, which culminated early in 2018. Ongoing projects such as Albatross and Green Garden in Santa Maria made important advances, and new real estate and infrastructure projects such as Marina Village, the Marina, and Velamar in Buenaventura kicked off our pipeline for the next couple of years. In 2017, we also resumed the project management of the SoHo Complex under its new ownership.
CARLOS MALO DE MOLINA 2018 has started strongly. The market in Panama in 2017 was slightly lower than normal, though the outlook for the future is great. This year will continue to be calm, and there will be growth in 2019. The key to all this is for Panama to continue with an open and liberal spirit. Panama City is a city of international commerce; it is extremely liberal in the economic and social sense and is open to the future. Its agreement with China is extremely positive because Panama is a great city to host large international economic movements. In 2004, Panama’s GDP was USD12 billion, while today it is USD60 billion. It is extremely likely that Panama will achieve a standard of living and per capita income similar to Europe by 2025-2030. This will generate an extremely powerful economic and social dynamism.