White & Case bags Panama Canal development

US giant White & Case has bagged a lead role advising the Republic of Panama on the redevelopment of the Howard Air Force Base next to the Panama Canal.The $700m (£357m) project covers 2,750 acres of land and is expected to create around 20,000 jobs. The scheme, known as the Howard Project, will redevelop a 1.7 mile airstrip built by the US but largely abandoned since its forces left the country eight years ago.

March 07, 2007 at 08:09 PM

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US giant White & Case has bagged a lead role advising the Republic of Panama on the redevelopment of the Howard Air Force Base next to the Panama Canal.

The $700m (£357m) project covers 2,750 acres of land and is expected to create around 20,000 jobs. The scheme, known as the Howard Project, will redevelop a 1.7 mile airstrip built by the US but largely abandoned since its forces left the country eight years ago.

Leading UK developer London & Regional Properties has secured initial rights to build a new 'mini city' on the banks of the Panama Canal.

The project is expected to be ratified by the Government of Panama in a matter of weeks.

The team at White & Case was led by Miami real estate partner William Walker.

Walker commented: "About 60% of the trade in and out of the US passes through the Panama Canal. When you combine thousands of new homes, hotels, a science park and a golf course, with the proximity to the world's busiest trade canal, you can see why the global investment community is taking note of this project."