Where do real estate and infrastructure occupiers lease office space in Panama City?

Most cluster in Banking District (Calle 50). Rent runs ~264 USD/sqft ($25 USD) for trophy and prime stock.

What fit-out spec do real estate and infrastructure occupiers run in Panama City?

Typically high-end at $130–195/sqft.

How much office space per seat should a real estate and infrastructure occupier plan in Panama City?

Plan ~215 sqft per seat blended. A 100-person team typically takes 21,500 sqft.

What NAICS codes describe the real estate and infrastructure vertical?

Representative NAICS 2022 codes: 531, 237.

What is the talent index in Panama City?

76/100. Use the city profile for full detail.

Real estate and infrastructure occupiers in Panama City typically cluster in Banking District (Calle 50), plan ~215 sqft per seat at high-end fit-out ($130–195/sqft), and pay around 264 USD/sqft ($25 USD) on Class A.

Preferred submarket: Banking District (Calle 50).
Typical fit-out spec: High-end ($130–195/sqft).
Plan ~215 sqft per seat for headcount sizing.
Class A rent context: 264 USD/sqft ($25 USD).
Typical lease: 5 years with 10 months rent-free.
Talent depth in Panama City: 76/100.

Real estate and infrastructure office space in Panama City

Real estate and infrastructure occupiers in Panama City typically cluster in Banking District (Calle 50), plan ~215 sqft per seat at high-end fit-out">fit-out ($130–195/sqft), and pay around 264 USD/sqft ($25 USD) on Class A.

TL;DR

Preferred submarket: Banking District (Calle 50).
Typical fit-out spec: High-end ($130–195/sqft).
Plan ~215 sqft per seat for headcount sizing.
Class A rent context: 264 USD/sqft ($25 USD).
Typical lease: 5 years with 10 months rent-free.
Talent depth in Panama City: 76/100.

Where they cluster

Real estate and infrastructure occupiers in Panama City typically anchor in Banking District (Calle 50). International banking, asset management, law firms, professional services.

What they pay

Class A rent in Panama City runs 264 USD/sqft ($25 USD) on a 5-year lease with 10 months free. Trophy submarkets command a 20–40% premium above the city index.

Spec and fit-out

Typical real estate and infrastructure fit-out targets high-end specification at $130–195/sqft. Branded reception, full client-facing programming, premium furniture, and specialist AV are standard.

Headcount sizing

Plan around 215 sqft per seat blended (workstation + circulation + amenity). A 100-headcount real estate office in Panama City typically targets 21,500 sqft of leasable area.

Talent angle

Sponsor and asset-management teams favor trophy CBD addresses with proximity to investment-banking and law-firm tenancy. Strong banking, logistics, and trade talent. Universidad de Panamá, USMA, and FAE Business School anchor the regional pipeline. Multilingual (Spanish, English) talent supports international tenancy. Strong cross-border talent flow with Colombia and Venezuela.

Tax and lease context

Headline corporate tax: 25%. Panamanian gross structure (rent inclusive of management fees). USD-denominated. 3-5 year terms standard. Rent-free of 8-12 months on 5-year terms plus USD 100-300/sqm TI typical.

Key facts

city	Panama City
industry	Real estate and infrastructure
naics	531, 237
preferredSubmarket	Banking District (Calle 50)
preferredFitoutSpec	High-end
fitoutBand	$130–195/sqft
sqftPerSeat	215
classARentLocal	264 USD/sqft/yr
classARentUsd	$25/sqft/yr
vacancyPct	26.4%
typicalLeaseYears	5
typicalRentFreeMonths	10
talentIndex	76
corporateTaxPct	25%

Frequently asked questions

Where do real estate and infrastructure occupiers lease office space in Panama City?: Most cluster in Banking District (Calle 50). Rent runs ~264 USD/sqft ($25 USD) for trophy and prime stock.
What fit-out spec do real estate and infrastructure occupiers run in Panama City?: Typically high-end at $130–195/sqft.
How much office space per seat should a real estate and infrastructure occupier plan in Panama City?: Plan ~215 sqft per seat blended. A 100-person team typically takes 21,500 sqft.
What NAICS codes describe the real estate and infrastructure vertical?: Representative NAICS 2022 codes: 531, 237.
What is the talent index in Panama City?: 76/100. Use the city profile for full detail.

Editorial provenance

Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

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