Group 4M, the developer of the 60-space Chitré Lake Village Center, opened the first phase of the new mall in Chitre in February, 2011. The large retailer, Madison was among the first to open their doors, and offers everything from clothing and shoes, kitchen supplies, home decor and furniture. Chains such as Grupo Rey, Arrocha pharmacies, McDonald’s, Kentucky Fried Chicken, and the bank Banesco are scheduled to open over the next months in the shopping center. The project anticipates approximately 25,000 people per day in traffic.
In an article in Prensa.com, “Grupo 4M is also building a 240-unit housing project. ‘We chose Chitré because Panama is already saturated and there is increasing development, investment, and affluence in the region of Herrera and Los Santos,’ said Vice-president Abdiel Suira.” The housing project is well underway right near the new shopping mall.
Increased commercial investment and development such as this is anticipated in Chitre and the Los Santos area for years to come, as residential investments and developments take off across the region.
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