The future regional hub of CAF, the development bank of Latin America and the Caribbean, has reached 75 percent overall completion in Obarrio. Beyond expanding the institution’s operations across Central America and the Caribbean, the project is also serving as a meaningful driver for Panama’s construction sector.
A Boost for Local Employment and Standards
Since construction began, the project has generated more than 700 direct jobs, with over 560 people currently working on site. It has also encouraged local suppliers and contractors to adopt rigorous technical, environmental, and occupational safety standards, raising efficiency across the industry.
Sergio Díaz-Granados, Executive President of CAF, highlighted the project’s strategic value: “With this new Regional Hub, CAF reaffirms its commitment to Panama and to regional integration, through modern, sustainable, and efficient infrastructure conceived as a space for gathering, culture, and innovation at the service of the region.”
Designed for Regional Collaboration
The building will permanently house close to 250 international and local staff serving CAF’s northern region. It includes a 276-seat auditorium for high-level forums, a contemporary art gallery, a covered plaza for educational and community activities, and four underground parking levels. Crews are now focused on the exterior facade, interior finishes, and preliminary testing of the building’s mechanical, electrical, and specialized systems.
Improvements for the Obarrio Community
The project expanded the area’s municipal storm drainage system, helping reduce flooding in surrounding streets. It also improved the pedestrian environment around Harry Strunz Park, making the public space more accessible for residents.
A Commitment to Sustainability
The building is pursuing Leadership in Energy and Environmental Design (LEED) v4 Gold certification for new construction, one of the highest international standards in sustainable design. Its glass facade also incorporates a bird-friendly design, reducing collision risks and protecting the migratory corridors that cross the isthmus.
A Growing Address in Obarrio
The arrival of a regional institution like CAF reinforces Obarrio’s position as one of Panama City’s most connected business and residential districts. The neighborhood continues to attract new investment, and just steps from the future hub, MOVA by B&B Italia is taking shape with residences designed in collaboration with the Italian design house. Those curious about living in this evolving part of the city can learn more about MOVA.
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