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Panama Pacifico is a mixed-use real estate development in Veracruz, Arraiján District, Panama on the former Howard Air Force Base. It is situated on the western bank of Panama Canal, opposite Balboa. The project has been in development since 2007.London & Regional Properties and Colombian banker Jaime Gilinski formed a consortium, London & Regional Panama, to develop the Panama Pacifico business and residential community in Arraiján District, Panama. Gilinski and his partners Ian and Richard Livingstone bested 17 other international firms to develop the project. The contract is a 40-year license for the area with an obligation to invest US$405 million over the first eight years from 2007. The project includes 3,450 acres (1,400 hectares) of land
