#Panama City #Panama #CLERHP #Larimar City #Panama Stock Exchange

CLERHP's Strategic Move in Panama: A New Debt Program

In an exciting development for the Spanish real estate and property development group, CLERHP has officially registered a $75 million revolving debt program on the Panama Stock Exchange. This move is aimed at financing the highly anticipated Larimar City Resort, a flagship project positioned in the Dominican Republic. This program is structured to extend over a decade, showcasing CLERHP's strategy to bolster its market presence and capitalize on investment opportunities in the region.

Background on CLERHP's Growth and Objectives

Since its inception in 2011, CLERHP has successfully transitioned from its core focus on engineering and structural analysis to a robust property development model that encompasses various sectors: engineering, architecture, construction, property development, marketing, and resident services. The company's remarkable evolution is anchored in its dedication to creating residential and commercial spaces designed to enhance lifestyle and investment returns.

The latest undertaking, the Larimar City Resort, is a monumental project valued at $528 million. Construction has begun following extensive planning and the approval of various permits throughout its development. To date, the company has recorded cumulative sales of $376 million as of June 30, 2026. The project has not only promised luxury accommodations and amenities but has also provided significant employment opportunities, generating over 3,000 jobs since its launch.

Details of the Debt Program

This debt program has received an A- (Pa) (pf) credit rating, classified as Investment Grade by Moody's Local Panama. The structure behind this program incorporates a collateral framework that includes an issuance trust, designed to manage cash flows linked to the North American market. Furthermore, an insurance cover ensures protection over interest and principal, which solidifies the investment's reliability.

The financial strategy comes at a pivotal moment for CLERHP, signaling their push toward strategically positioning themselves as a leader in the Caribbean property development market. By harnessing the financial capabilities of the Panama Stock Exchange, the company aims to not only secure funding but also increase investor trust and confidence in their operations.

Milestones Achieved

Over the last four years, CLERHP has invested heavily in essential groundwork to transform the proposal of Larimar City into a thriving community. Significant milestones included:

• - Environmental studies completed in July 2024, granting the project an Environmental Licence that enables the initiation of construction and operation.
• - Securing necessary land-use planning approvals and construction permits, allowing excavation work to commence in late 2024.
• - Recent tax exemptions granted by the Dominican Republic's Ministry of Finance, further enhancing project viability and competitiveness in a challenging market.

With layers of developments underway, the emergence of structures such as Prime Towers, Breeze Towers, and various villas is set for phased completions starting in late 2026. Each development aligns closely with the overarching vision of creating an integrated urban environment that meets modern standards and caters to residential demands.

Future Prospects

CLERHP's entrance into the Panama Stock Exchange exemplifies its commitment to long-term growth and expansion across the Caribbean. The company is also actively pursuing new developments, such as Marelago in Cap Cana, setting the stage for enhanced international engagement.

The successful launch of the debt program, combined with the ongoing developments in Larimar City, are poised to catapult CLERHP into a new era of property development, characterized by innovation, commitment, and robust financial backing. As the company continues to grow and adapt to market demands, it reaffirms its role as a significant player in shaping the future of living and tourism in the Caribbean.