#Panama City #Panama #Mercan Group #Albor

Mercan Group Launches Albor at Santa María

On September 30, 2026, Mercan Group, a Canada-based developer, celebrated the groundbreaking of its first residential project in Panama, known as Albor at Santa María. This ambitious development features 48 stories and will house 200 luxury residences. This project highlights the company's ongoing commitment to expanding its presence in Panama, which has already seen over $200 million in investments.

The launch of Albor comes in conjunction with new government regulations under Panama’s Qualified Investor Program, aimed at fostering foreign investments. Executive Decree No. 17, issued on September 8, 2026, maintains a minimum investment threshold of $300,000 for new real estate, while increasing the limit for secondary-market properties to $500,000. These regulations will provide better investment alternatives and clearer application processes for prospective investors.

The positive response to the Qualified Investor Program is evident. Between July 2025 and June 2026, the Ministry of Commerce and Industries (MICI) issued 268 investor certificates, representing an influx of $113.6 million in investments, compared to the previous year where only 193 certificates amounting to $90.1 million were issued. This shows a significant growth, with real estate accounting for an impressive 87.3% of all certificates issued.

Julio Moltó, the Minister of Commerce and Industries, emphasized the importance of such long-term investments: "This is the type of investment that stimulates new projects and creates jobs for locals in Panama. The recent updates to the Qualified Investor Program improve our competitiveness on the international stage for investment migration."

Albor at Santa María is strategically situated in one of Panama City's most sought-after areas. The residences will offer a choice of two or three bedrooms, with sizes ranging from 81 to 85 m², alongside penthouses of up to 176 m². Residents can expect high-end finishes and a selection of luxurious amenities, including a swimming pool, fitness center, theaters, and social wellness zones. Prices for these residences start at $364,000, aligning perfectly with the minimum investment amount established by the Qualified Investor Program. Anticipated completion for the project is set for 2028.

"Breaking ground signifies the transition from an investment idea to real progress," stated Jordi Vilanova, Vice President of Mercan Group. "Our journey of responsibility begins here as we commit to executing our plans and providing lasting value for both our investors and the local communities."

With the introduction of Albor at Santa María, Mercan Group further expands its investment portfolio in Panama, which now exceeds $200 million. The company, founded in 1989, has advised over 4,300 foreign investors and boasts a portfolio of 34 hotel and real estate projects across the globe.

As Mercan Group moves forward with Albor, it not only reinforces its investment in Panama but also signals a promising outlook for the country's real estate market amid evolving government policies aimed at attracting international investors.