5 photos from the developer
Under construction
Alamar
Buenaventura, Pacific Coast
from $625k to $1.29M
- Unit types
- 4
- Smallest unit
- 165 m²
- Bedrooms
- 3–4
- Status
- Under construction
- Area
- Buenaventura
Alamar has no permit, licence or title position that another Buenaventura address cannot claim. What separates it is the counterparty. Buenaventura's earlier residential phases came from the estate itself. Alamar is a joint venture between Valor Development and PAAR, announced on 10 January 2025 as an alliance with Buenaventura rather than as a Buenaventura product, with the estate's CEO Diego Vallarino calling it "la próxima etapa de desarrollo para Buenaventura", the next stage of development for Buenaventura. The golf course, the marina and the Autograph Collection hotel belong to Buenaventura. The construction risk and the purchase promise belong to Valor and PAAR, and those are the two track records worth diligencing. Valor Development lists roughly twenty executed projects and describes itself as more than ten years old. PAAR is a boutique firm founded by Mario Pérez and Liz Faarup whose first project, Luna, was still preparing to receive residents as of September 2025. The other thing to know before you look at floor plans is the scale of what is still coming. Alamar is a seven-building scheme numbered Tower 100 through Tower 700, and only Towers 600 and 700 are selling. Five more buildings go up around whoever buys in this phase.
Alamar prices and floor plans
| Unit | Beds | Baths | Size | From |
|---|---|---|---|---|
| Torre 600, Apto Tipo 3 | 3 | 3.5 | 203 m² | — |
| Torre 700, Apto Tipo 1-2 | 4 | 4.5 | 304 m² | — |
| Torre 600, Apto Tipo 1 | 4 | 4.5 | 244 m² | — |
| Torre 600 Apto Tipo 2 | 3 | 2.5 | 165 m² | — |
Where Alamar actually is
Alamar holds one of the few genuine oceanfront positions inside the Buenaventura estate, on the Antón coast in Coclé. A pedestrian rambla runs through the development down to the sand, the site's existing corotú trees have been kept in the common areas, and the buildings step down in height so units behind the front row keep a sea view. Revista Construir, in April 2026, quotes Ivana Mallol of Mallol y Mallol as the architect describing that scheme. Before you price the sea view, look at the sea. This is a black-sand Pacific beach with heavy surf, and a visitor account of the resort on the same stretch, published in April 2026, describes the water red-flagged and not swimmable during the stay. Alamar's own amenity list includes a FlowRider, a stationary surf-wave machine, which is a fair indication of how much time residents are expected to spend in the ocean. Drive time from Panama City is quoted inconsistently across sources, from 80 minutes by Panama Equity to 90 minutes in one travel review to two hours in another, so budget for the longer figure on a Friday afternoon. The corridor itself, the airport and the road in are covered on the Buenaventura area page.
What’s included at Alamar
- Restaurant and beach club
- Beach bar
- FlowRider surf simulator
- Skate park
- Interactive park
- Yoga deck
- Private pool
- Reading area
- Jogging track
- Commercial area
- Dog park
Who Alamar suits — and who it doesn’t
Buyers who want beachfront floor area inside a managed estate and who will genuinely use the estate, because the maintenance obligation funds it either way. Families more than retirees, on the evidence of the amenity list: a FlowRider, a skate park, an interactive park and a dog park point at a different household from the golf and equestrian core Buenaventura built its name on. Panama City families wanting a weekend and holiday base a couple of hours out rather than a full-time residence. And buyers who compare on price per square metre rather than headline price. Across eleven Alamar units we found listed on 4 August 2026, through KW Panama and on the Encuentra24 portal, asking prices work out between roughly $3,580 and $4,510 per square metre, clustering close to the $3,930 per square metre average Panama Equity publishes for the building. On that spread, which unit you pick moves the number more than which project you pick.
Check the beach in person before you commit. It is black sand with heavy Pacific surf, and a visitor account of the resort on the same stretch, published April 2026, describes the water red-flagged and not swimmable during the stay. Pricing is the second thing to handle carefully. Neither developer publishes a price list, so every public figure is an agent's asking price, and the agencies do not agree on where the project starts: $625,000 from Panama Equity and B&B Real Estate Panamá, $675,000 from Prime Real Estate and Panama Sovereign, $705,000 from The Agency Panama, and $800,000 from Grupo Villarreal for models of 208 m² and up. Our stored range is built from the lowest and highest live listings we could verify on 4 August 2026, not from a developer document. Delivery is unsettled too: Panama Equity's fact sheet says 2026, The Agency Panama and Prime Real Estate say 2027, and the two most recently updated portal listings say construction began in late 2025 for 2028 delivery, on a project only announced in January 2025. Five of the seven buildings have not started, so anyone taking delivery in the first phase lives beside an active construction site for years. Brokers describe Alamar as low-rise while Panama Equity's own fact sheet for the project puts it at 10 to 12 floors. And that April 2026 review called the resort itself dated and "oddly empty during the week", which is worth weighing if you pictured the restaurants and beach club busy in low season.
Before you buy at Alamar
Alamar is selling off plan under a promesa de compraventa, a purchase promise rather than a deed. We have not pulled a finca number for this project and we hold no independently verified title position for it, so title status here is unknown and we are not going to dress that up. Our reviewer verified on 4 August 2026 that the Buenaventura estate is titled at the Registro Público, which is not the same as your unit being titled. Individual titles at Alamar cannot exist until the buildings are complete and the horizontal property regime is constituted over them.
We could not locate a public construction permit, a MiAmbiente environmental resolution, or any Registro Público filing tied specifically to Alamar. That is normal for a project at this stage, and it means early buyers are relying on the developers' own paperwork rather than on a public record.
Deposit and payment terms are published by neither developer, and no broker page or portal listing we checked on 4 August 2026 states them. Get them in writing before you reserve anything. Have an attorney confirm which legal entity signs your promesa, since Valor Development and PAAR are separate companies and the public listings do not consistently name the selling entity. Pull the parent finca and the plano for the lot. Ask for the reglamento de copropiedad, in draft if it is not yet registered. And get written confirmation of whether short-term letting is permitted, because we could not establish that either way.
FAQ
What does an apartment at Alamar cost?
Our range of $625,000 to $1,291,500 is the lowest and highest live asking price we could verify on 4 August 2026. It is not a developer price list, because neither Valor Development nor PAAR publishes one. On the Encuentra24 portal that day three licensed agencies had Alamar listings running at once: a 159 m² unit at $625,000 (B&B Real Estate Panamá, PN-5438), a 193 m² unit at $750,000, a 332 m² unit at $1,250,000 (Kabasso Pieck, PN-5089), and the project quoted from $800,000 across models of 208 to 332 m² (Grupo Villarreal / Keller Williams, updated 27 July 2026). KW Panama's own site listed eight more the same day, running from $625,000 for 159 m² up to $1,291,500 for 304 m². When you are given a number, establish which model it refers to before anything else. The spread between models inside Alamar is wider than the spread between agencies quoting it.
What is Alamar's price per square metre?
Between roughly $3,580 and $4,510, across the eleven units we found listed on 4 August 2026. That brackets the $3,930 per square metre average Panama Equity publishes for the building, which is the closest thing to independent corroboration this project has. The spread is wide enough to matter: at the bottom of it a 264 m² unit was asking $945,000, while at the top a 244 m² unit was asking $1,100,000. The larger unit was the cheaper one. Comparing headline prices here will mislead you, so compare the rate.
When will Alamar be delivered?
Nobody agrees, and the discrepancy is large. Panama Equity's fact sheet says 2026. The Agency Panama and Prime Real Estate say 2027. The Encuentra24 listing updated 27 July 2026 says construction started in late 2025 with estimated delivery in 2028, matching what Panama Sovereign and Panama Realty Zone show. Given the project was only announced on 10 January 2025, a 2026 completion looks implausible and the 2028 figure is the one carried by the most recently updated sources. Do not accept any of these secondhand. Get the developer's current schedule in writing.
Who is actually building Alamar?
Valor Development and PAAR, in alliance with Buenaventura, announced 10 January 2025. Buenaventura is the estate, not the developer of this project. Valor Development lists roughly twenty executed projects and describes itself as more than ten years old. PAAR is a boutique firm founded by Mario Pérez and Liz Faarup, whose portfolio is Luna, Portavita and Alamar; a September 2025 profile described Luna as sold out and preparing to receive residents, meaning PAAR's first handover was still ahead of it at that point. We could not independently verify either firm's record for delivering on the originally quoted timeline.
Can you swim at the beach in front of Alamar?
Not reliably. This is a black-sand Pacific beach with heavy surf. A visitor account of the resort on the same stretch, published in April 2026, reported the waves red-flagged during the stay and described a drop from the beach-chair area down to the water. Alamar's own amenity list includes a FlowRider surf-wave machine and multiple pools. Go and stand on the sand before you sign anything, ideally outside the dry season.
How many buildings will Alamar have, and which ones are selling?
Seven, numbered Tower 100 through Tower 700 in the developers' own masterplan. Only Towers 600 and 700 are on sale. Tower 600 has three published models at 165 m² (3 bed, 2.5 bath), 203 m² (3 bed, 3.5 bath and maid's room) and 244 m² (4 bed, 4.5 bath and maid's room). Tower 700 is the oceanfront building, published at 302 to 304 m², 4 bed, 4.5 bath, maid's room and two parking spaces. Agents also list 159 m², 193 m², 208 m², 264 m² and 332 m² units that do not appear on the developer's own model page, so confirm the plan you are being sold against the registered drawings rather than against a listing.
Is Alamar titled property?
No, and it cannot be yet. It is preselling and under construction, sold under a promesa de compraventa, a purchase promise rather than a deed. Portal listings market it as "PH Alamar", PH being propiedad horizontal, the condominium designation, but that regime is constituted over a finished building, not a marketing name. Individual titles only exist once the buildings are complete and the regime is registered. We did not pull a finca number for the Alamar lot and hold no verified title position for this project. The title verification on our Buenaventura area page covers the estate, not these units.
What are the maintenance fees at Alamar?
Neither developer publishes them, but three live portal listings quote them per unit, which is better evidence than a range. On 4 August 2026 a 193 m² unit was advertised at $580 a month and a 332 m² unit at $850 a month, with a third listing quoting Alamar fees from $580. That works out to roughly $2.55 to $3.00 per square metre per month, a lower rate than a heavily amenitised Panama City tower but a much larger absolute bill, because the units are two to three times the size. These are agent figures rather than developer figures. Ask for the projected budget behind the number, not just the number.
Can I rent an Alamar apartment out?
We could not establish whether short-term letting is permitted here, and that is a question for the reglamento de copropiedad rather than for a sales agent. Panama Equity publishes an average rental figure of $30 per m² per month for the building, which on a 165 m² unit would be roughly $4,950. That is an asking figure, not an achieved one, and it is not adjusted for occupancy. Demand on this coast is weighted to the dry season, so any yield built by annualising a peak-season rate will overstate the return. If income is part of your case, ask for a full year of actual booking records from a comparable unit on the estate.