Startup tech occupiers in Panama City typically cluster in Obarrio / Marbella, plan ~130 sqft per seat at mid fit-out ($85–125/sqft), and pay around 264 USD/sqft ($25 USD) on Class A.

• Preferred submarket: Obarrio / Marbella.
• Typical fit-out spec: Mid ($85–125/sqft).
• Plan ~130 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.

TL;DR

• Preferred submarket: Obarrio / Marbella.
• Typical fit-out spec: Mid ($85–125/sqft).
• Plan ~130 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

Startup tech occupiers in Panama City typically anchor in Obarrio / Marbella. Banking branches, retail HQs, consulting, 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. Prime submarkets sit at or modestly above the city index.

Spec and fit-out

Typical startup tech fit-out targets mid specification at $85–125/sqft. Functional Cat-B with branded reception and standard meeting-room mix is standard.

Headcount sizing

Plan around 130 sqft per seat blended (workstation + circulation + amenity). A 100-headcount startups office in Panama City typically targets 13,000 sqft of leasable area.

Talent angle

Series B–D scale-ups prioritize flexibility and signature loft stock to attract engineering talent away from incumbents. 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

Frequently asked questions

Where do startup tech occupiers lease office space in Panama City?

Most cluster in Obarrio / Marbella. Rent runs ~264 USD/sqft ($25 USD) for trophy and prime stock.

What fit-out spec do startup tech occupiers run in Panama City?

Typically mid at $85–125/sqft.

How much office space per seat should a startup tech occupier plan in Panama City?

Plan ~130 sqft per seat blended. A 100-person team typically takes 13,000 sqft.

What NAICS codes describe the startup tech vertical?

Representative NAICS 2022 codes: 541511, 541512, 518210.

What is the talent index in Panama City?

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

Related

• Startup tech — global overview
• Panama City — full city profile
• Financial services in Panama City
• Asset management in Panama City
• Investment banking in Panama City
• Legal services in Panama City

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

Full sources index · Submit a correction

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