With an investment of $88 million, CAF will build a headquarters building in Panama
The Development Bank of Latin America (CAF) will build a headquarters building in Panama with an investment of $88 million to serve its member countries in the northern region, announced the president of the bank Sergio Díaz-Granados.
Source: La Estrella de Panamá
The multilateral financial institution has offices in thirteen countries and its own buildings at its headquarters, which is Caracas, Venezuela. But it also has buildings in Uruguay, Bolivia and now it will have it in Panama. Here it will serve its member countries of the northern region
CAF has offices in thirteen countries and its own buildings at the headquarters, which is Caracas, Venezuela. But it also has buildings in Uruguay, Bolivia and now it will have it in Panama where it will house its corporate offices and will strengthen its presence in Panama as a regional hub.
"We want this work to become an essential piece of social and cultural life, beyond the contribution to the economic reactivation of the country and the adaptation of the institution to provide a better service to Central America, the Caribbean and the Andean region" Diaz Granados said.
In the act of laying the foundation stone, Díaz Granados highlighted the main milestones of the project and its execution schedule. The construction of the building, approved eleven years ago by the CAF board, is part of the celebration of 25 years of incorporation of Panama as a member of the multilateral financial institution.
The president of CAF described Panama as one of the most active members, since in this period as an active member of the bank it has managed to mobilize "twelve times the capital it has put into CAF." But he also specified that two thirds of his loan portfolio is dedicated to green financing projects for projects related to water, sanitation, and that avoid or reduce greenhouse gas emissions.
According to the institution's statistics, between 2017 and 2021 CAF approved financial operations for $3,013 million in favor of Panama, around $603 million per year. While total disbursements totaled $2,184 million during the same period, $437 million on average per year.
Specifications of the building to be built in Obarrio in Panama City, in an area of 3,201 m². It will be a sustainable structure, with a design that will prioritize the creation of public space so that it is appropriated by citizens. “
The corporate office building will have six floors above ground with an estimated capacity for 250 jobs and 4 underground parking floors with a capacity for 259 parking spaces.
The building will also have spaces such as an auditorium, an art gallery, a semi-public plaza, and a green roof. This year the construction phase will begin and the work is expected to be completed in 2026. "The revitalization of the area (Obarrio) where the new CAF offices will be located is called upon to promote social development, to stimulate the appropriation of spaces and promote cultural activity in Panama City.
The construction of the building was carried out during a protocol ceremony of the founding stone, carried out within the framework of the internal corporate meeting of CAF executives that took place in Panama. The design of the project for the new CAF offices in Panama City was developed from the International Contest of Architectural Ideas convened by this institution in 2014 in which 21 companies from 8 countries participated.
The architecture firm Mallol & Mallol Arquitectos was the winner of the project design and the supplier selected for project management is Manhattan PM Panama INC, the result of an International Public Competition. On the 3,201 m² of land, it is proposed to develop a building of 22,000 m² of construction with the following distribution. It will have offices (7,500 m²), Public program (4,000 m²), auditorium, art gallery, coffee center, public amphitheater, among other spaces, Parking (10,500 m2).
To materialize the building, some sustainability premises have been defined, among which stands out a green roof that will be complemented by a rainwater harvesting system, which will be for sanitary and irrigation use; lighting will have a control system seeking efficiency and energy savings; and the structure will be certified in Leadership in Energy and Environmental Design (LEED) granted by the US Green Building Council.