Grupo Miró has announced a landmark $200 million investment for the Santa Fe project (not to be mistaken with the town Santa Fe in Veraguas), an ambitious commercial and residential development set to modernize western Panama’s Chiriquí province. Located within the La Fontana District in David, this 35-hectare development promises to bring new standards of urban planning to the region.
Project Overview
The Santa Fe development will allocate 20 hectares for mixed-use commercial space and reserve 15 hectares for future residential properties. The project boasts 600 linear meters of frontage along the Pan-American Highway, with a strategic location directly across from the José Domingo de Obaldia and Rafael Hernández hospitals—healthcare complexes serving residents from Chiriquí, Bocas del Toro, and central provinces.
Implementation will occur in phases over approximately 15 years, adapting to market demands with a target to complete 80% of the development during this timeframe. The initiative is expected to create more than 600 direct and indirect jobs across construction, retail, and service sectors.
Award-Winning Design
The master plan for Santa Fe was designed by Moule & Polyzoides, one of America’s premier New Urbanism firms led by Stefanos Polyzoides, a global pioneer in the movement. The design earned recognition as the “Best Emerging Project of New Urbanism” at the 2020 Congress of New Urbanism in the United States.
“Our vision is to create a modern, functional space that boosts the local economy and improves the quality of life for the community,” stated Mónica Anguizola, General Manager of Grupo Miró. “We’re committed to continuing innovation and developing projects that generate a positive impact in the region.”
Unlike typical development practices in Panama, La Fontana District introduces a compact grid of blocks and streets carefully integrated with the existing landscape, preserving native tropical species. The plan draws inspiration from historic Savannah, Georgia, with neighborhoods organized around squares and multiple housing types emphasizing courtyard living.
Property Market Implications
This significant investment is likely to reshape David’s real estate landscape in several ways:
Properties in Boquete and David may see appreciation as Santa Fe enhances regional infrastructure and amenities. The development’s structured approach to urban planning establishes a new standard for quality in western Panama’s property market.
For investors, Santa Fe signals strong confidence in Chiriquí’s growth potential. The mixed-use design creates diverse opportunities across commercial, retail, and residential sectors, while the phased development approach should support sustainable price appreciation without market saturation.
Expats relocating to Chiriquí will benefit from improved urban planning that combines modern amenities with thoughtful integration of natural landscapes. The project’s walkable design, influenced by New Urbanism principles, creates communities that balance convenience with quality of life.
Connect With Casa Solution
Are you interested in exploring investment opportunities near this transformative development? Casa Solution specializes in properties throughout Panama’s western provinces, including prime locations in David and surrounding areas. Whether you’re looking to invest ahead of this development or find your perfect home in Chiriquí’s evolving landscape, our team can help you navigate the market. Contact us today to learn how Santa Fe’s development might affect your property decisions.
