Single 51 m²
From ~$192,000
Calzada de Amador, Panama City, near the Pacific entrance of the Panama Canal
Four low-rise buildings on the Amador waterfront. 126 units from 51 to 213 m². Architecture inspired by the Canal’s heritage. Stated returns of 8-12%. Developer: Eleta (40+ years) + Marjalizo. A project with no equivalent in the ARQET portfolio.
Passage is a project you only truly understand once you see it on the map. Four low-rise buildings, 7 floors each, set along the Calzada de Amador, surrounded by trees, with views of the Pacific entrance to the Panama Canal and Cerro Ancón. It is not a vertical condominium: it is a horizontal residential community in one of the most iconic locations in Panama City.
The design is by Arosemena & Way (architects/urbanists), with interiors by OPERAA Studio, the same studio that created some of the city’s most refined lobbies. The architecture evokes the historic heritage of the Canal: natural materials, timeless textures, and a formal language that will not age.
The project is developed by Eleta, one of the most powerful and long-standing groups in Panama, with over 40 years of track record, in partnership with Marjalizo. This is not a random combination: Eleta brings institutional credibility, while Marjalizo contributes international expertise in property management and marketing.
Passage is the project that brings Eleta onto the international relocation market, and Eleta is not just any developer. It is a group with 40+ years of history in Panama, active in real estate, media, retail and finance. Its reputation is an intrinsic asset of the product.
Mid-rise developments on Amador are rare. The Calzada is dominated by vertical towers, Cavarosa, Nayamara, and others in the pipeline. Passage is the only low-density, horizontal project, with integrated greenery and direct access to the 10 km of trails along the Calzada. For those who want Amador without the feeling of living in a hotel, Passage is the alternative.
The stated returns of 8-12% are the highest in the ARQET portfolio. Combined with the Eleta brand and the location on the Canal, this makes the project one of the most defensible long-term assets, not only for its yield, but for its capital value over time.
Amador has two souls, which one is right for you?
Passage, 4 low-rise buildings: 7-storey mid-rise · Nature and tranquillity · From 51 to 213 m² · Historic architecture · Horizontal community · Eleta + Marjalizo · 8-12% declared · Delivery 2027-28.
Cavarosa, vertical tower: Tower · Sculptural and dramatic · From 60 to 106 m² · Hotel permit · Airbnb ready · The Velopers · Rooftop infinity pool · Pre-construction.
Those who prefer Calzada de Amador with a more natural, historic and quiet character choose Passage. Those who want verticality, visibility and maximised short-term rental income choose Cavarosa. They are not in competition: they are two distinct positions for two different profiles.
From ~$192,000
On request
On request
On request
On request
Not suitable for those seeking a compact apartment to rent out on Airbnb with quick, hands-off management. Floor areas start from 51 m², but the project’s DNA is residential, not investment-only. For short-term rentals with permit already included on the same Calzada, Cavarosa is the right choice.
For short-term rentals with permit included on the same Calzada, Cavarosa.
ARQET can guide you through the evaluation of this asset: analysis of the most convenient purchase structure, tax setup, banking strategy and remote management.
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