The Canada-headquartered global developer expands its Panama portfolio with its first residential project, advancing more than US$200 million in investments in the country.

PANAMA CITY, Sept. 30, 2026 /PRNewswire/ — Mercan Group has officially broken ground on Albor at Santa María, marking its first residential development in Panama. Featuring 48 stories and 200 luxury residences, the project represents a new milestone in the Group’s expansion and long-term commitment to the country.

The groundbreaking comes as Panama introduces new regulations for its Qualified Investor Program. Executive Decree No. 17, issued on September 8, 2026, maintains the minimum investment at US$300,000 for new, first-sale real estate, while establishing a US$500,000 threshold for secondary-market properties. The regulations also introduce additional investment alternatives and clearer application procedures.

The program continues to gain momentum. Between July 2025 and June 2026, Panama’s Ministry of Commerce and Industries (MICI) issued 268 Qualified Investor certificates, representing US$113.6 million in investment, compared with 193 certificates and US$90.1 million the previous year. Real estate accounted for 87.3% of certificates issued.

“This is the type of long-term investment we aim to foster: new projects that generate jobs for Panamanians,” said Julio Moltó, Minister of Commerce and Industries. “The updates to the Qualified Investor Program enhance Panama’s competitive position in the global investment migration landscape.”

Located in one of Panama City’s most exclusive communities, Albor at Santa María offers two- and three-bedroom residences ranging from 81 to 85 m², alongside penthouses of up to 176 m². The project features luxury finishes and amenities including a swimming pool, fitness center, movie theater, social and wellness areas. Prices start at US$364,000, meeting the minimum real estate investment amount established under the Qualified Investor Program. Completion is projected for 2028.

“Breaking ground turns an investment vision into tangible progress,” said Jordi Vilanova, Vice President of Mercan Group. “Our responsibility starts here: executing, fulfilling our commitments and delivering long-term value for our investors and the local community.”

Albor at Santa María expands Mercan Group’s investment portfolio in Panama, which now exceeds US$200 million. Founded in Canada in 1989, Mercan Group has advised more than 4,300 foreign investors and developed 34 hotel and real estate projects worldwide.

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SOURCE MERCAN Group