I recently learned more about the new Federal Mall. What I now understand is that it is scheduled to be built in four phases, each adding 100 stores. That may paint a different picture than many have in mind now.
This is essentially what occurred with Plaza Terronal. It took two phases to get to its current point. If you remember that development, it took years before all of the locations had stores in them. Plaza Terronal was scheduled to be a three phase development.
Therefore, no one should assume that there will be a 400 store mall in David in a couple years.
Yesterday, I took part of my morning driving around David and taking some snapshots of a small fraction of the building that is underway or recently completed. My mind is boggled by enormity of change in the time I have lived in Chiriquí.
When you add the new Federal Mall on top of the current construction, you have to wonder who and what is going to fill all these spaces.
Now let me pose a different thought. All of this construction has provided a tremendous opportunity for construction laborers. This includes those working on the InterAmerican Highway.
One of these days the InterAmerican Highway will move out of the construction phase and into the maintenance phase and require less laborers.
One of these days all of these current constructions will get to a point of completion where they need to be occupied and start paying for the investment required to build them.
One has to wonder where these laborers will go following the construction currently in progress. Of course this is be several years out.
On some of the photos below, you will see that some have signs saying there is no vacancy, even though they are in the middle of construction. As I said, it just boggles my mind.
As I said, the following photos are just a fraction of the construction going on.
This first photo is across the street from Dairy Queen close to the old Super 99.
This building looks like it is nearing completion and is across the street from the Mitsubishi dealer.
Here a couple more.
This is across the street from Escuela Municipal De Bellas Artes de David, which I will cover in a future post.
This building (on the old Boquete highway) has been completed for some time and awaiting occupancy.You can see the “for sale” real estate sign in the photo.
This mall is also on the old Boquete highway.
Obviously there is a lot of growth expected to fill all of these locations.