In Boquete, Cielo Paraiso is PanamaÂ’s newest luxury living community. By Scott Kauffman
If youÂ’re content living outside the status quo and you yearn to discover new territories, your ideal address might be the Residences at Cielo Paraiso, a new oceanview golf resort community in Boquete, Panama.
This desire for lifeÂ’s unbeaten path led Gladstone DevelopmentÂ’s Sandeep Lal and his brother, Raideep, to Boquete. The Toronto natives originally acquired the 580-acre property as a second-home destination for Raideep and his wife, Colleen.
However, they soon saw the real estate potential of their scenic property and chose to create a community amid the spectacular setting of the Baru Volcano, the Talamanca and Jaramillo mountains, and the Pacific Ocean. Raideep passed away last June, but Colleen, GladstoneÂ’s president, has taken over the project with Sandeep.
Gladstone has already invested more than $20 million to develop the first phase of the project, which ultimately calls for luxury estate homesites, duplex villas, golf condos, and a hotel and private residence club. So far, 34 properties have been sold (about half of phase-one inventory), 11 homes have been built, and 12 more are under construction. The golf course is completed, and currently nine holes are open to Cielo Paraiso homeowners with the full 18 available in August.
“Boquete has become a….popular tourism destination, and weÂ’ve seen a growing number of expatriates relocate here for retirement or to invest in second homes,” says Sandeep. He says that “…low property tax rates, incredible retirement discounts for seniors, first-world water treatment plants and hospitals, plus the year-round temperate climate, are the draw. At Cielo Paraiso, we have seen an uptick in property sales in the last year, as more people catch on to these incentives.” boqueterealestate.com
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