This is how out of control my desire for stuff that I don't necessarily need is: I want a second home. The problem is that I don't even have a first home. But, the idea of having a pad somewhere like...I dunno...Panama, sounds like such a sweet idea. The Trump Ocean Club is a mixed use development in the oceanfront Punta Pacifica Peninsula area of Panama City. The $400 million, 68-story project will feature 369 hotel units and an additional 600 condominium units, all with unobstructed panoramic ocean views. And, yes, in case you are wondering this is another Donald Trump project, as the name would suggest. The Big Donald was impressed with Panama City while he was there for a Miss Universe pageant a few years ago and decided to invest in the booming Latin American city. The building's sail design looks suspiciously like the Burj Al Arab hotel in Dubai, so I'm wondering whether the Don lifted some of the resources used to build the Burj. Condo units in the Ocean Club will range from the $500s to the $2MM+ range. Oh, and here's a nice little incentive to buy: there are no property taxes due for 20 years. Apparently, the canal generates so much revenue, Panama doesn't need to tax this property.
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