With the real estate market recalibrating, there are fewer construction projects, though innovation and quality remain the focus.

Humberto de León

President, Constructora de León (CODSA)

The company's history began in 2004. I had gained some experience from other companies, and the company gradually acquired new customers and projects. We specialize in buildings, particularly in building structures. Our biggest project is Bicsa Financial Center on Balboa Avenue. In terms of building construction, we are likely in the top five construction companies. We are currently working on the Costanera construction project, near Urracá Park, and The Colonial, as well as Empire projects, both in Santa Maria. We also have the Coral building project and are starting with Luxor 400. We are working on residential buildings as well as office buildings. At present, most of the construction projects in Panama are related to residential buildings. The sector is not on the rise, though we have always had a great amount of projects going on due to the property developers we work with. They are always building; that is their main business. Several years ago, the challenge was getting workers. Today, it is about making the work perfect. We want to provide excellent service to our developers. As the owner, I visit the projects at least once or twice a week, and this makes the project personalized. That makes the difference.


Juan Antonio Clavería

CEO, Urbania

We established the company in 2014, though it started operating as Urbania in January 2017. Our initial plan was to focus just on three developments while we were consolidating and structuring the new team. After analyzing the behavior of the Panamanian market over the last decade, the partners decided to diversify the products on offer and divide them into three extremely specific business lines based on product type and location. Our core business, ALAMEDAS, consists of developing the local market, specifically around the outskirts of Panama City, with villas ranging from 50-65sqm created specifically for low-income families in order to offer them affordable housing opportunities. ACACIAS, low-rise buildings located in the suburbs of Panama City, are created for young professionals, allowing them to acquire property with the opportunity of using all of the loan advantages offered by the government. We also have SKY, mid-rise buildings located in downtown Panama City. These projects were designed for middle-income families that want more for their investment. Urbania has been able to grow and position itself in the Panamanian market. Our aim is to consolidate the company, both in Panama as well as internationally.


Rafael Jaén T.

President & CEO, Construcciones RJT

Our main competitive advantage is a personalized and dedicated attention to our clients. We carefully manage all the details of the project, including quality control, the budgeting and rigorous control of expenses, and we are known for always completing our projects on time. In sum, we satisfy clients' expectations. Here in Panama, and the region, one of the issues people have with contractors is quality and the timeframes of the projects. We normally exceed expectations in these aspects. We focus on a limited number of simultaneous projects to ensure we are capable of satisfying and exceeding clients' needs. We live in a small country where the best reference is word of mouth, which has helped us significantly because many of our new clients were referred to us. Personalized customer service characterizes Construcciones RJT and has allowed us to grow and strengthen our name in the market: our brand is strong. We have reached a point in our evolution as a company where we've learned how to best navigate the private sector in the country. That is our preferred niche, known for less bureaucracy and more straightforward dynamics. We have been extremely successful in the private sector and prefer to remain that way.


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