5 photos from the developer
Preselling
Vervana Phase II
Playa Venao, Pacific Coast
from $450k to $655k
- Unit types
- 2
- Bedrooms
- 2
- Status
- Preselling
- Area
- Playa Venao
Vervana Phase II is the second half of a two-phase master plan on Achotines Bay, and the most useful thing to know about it is that the first half has not been delivered. Phase I, the 20 MARE beachfront condos, was scheduled to break ground in the first quarter of 2026 on an 18-month build, with delivery estimated for September 2027. Phase II, branded TEMPLO, breaks ground in 2027 by the developer's own account, and its 24 residences are priced from $450,000 for an 88 m² condo to $655,000 for a 131 m² hillside villa. So when a listing implies the developer has already proven itself here, check what that means. Chagres Capital runs six hotels in Panama that are open and trading, from Hotel República in the capital to Bambuda in Santa Catalina, and Valor Development has been delivering residential projects in Panama City for over a decade. Neither has finished a residence at Playa Venao. Ask for Phase I's progress against its own published schedule before you sign anything on Phase II. If MARE is tracking to September 2027, the 2028 date on Templo means something. If it is slipping, that tells you what Templo's date is worth.
Vervana Phase II prices and floor plans
| Unit | Beds | Baths | Size | From |
|---|---|---|---|---|
| Villa Tierra | — | — | — | — |
| Villa Aire | 2 | — | — | — |
Where Vervana Phase II actually is
Vervana sits on Achotines Bay rather than on Playa Venao itself. RE/MAX Panama's listing puts it about three minutes from the surf town. Templo, the Phase II cluster, sits further back and higher than the Phase I condos, on a plateau the developer gives as 35 m above sea level, with Villa Tierra listed at roughly 40 m. That buys you breeze and a view over the tree canopy. It also means you will be walking down to the beach club and back up.
Why Achotines Bay is empty enough to build a low-density resort on is worth knowing. The Inter-American Tropical Tuna Commission runs its Achotines Laboratory adjacent to the bay, and the commission describes its grounds as holding over 120 hectares of tropical dry forest, an ecosystem it calls exceptionally rare. Vervana's own site is marketed on the same logic: 20 hectares of preserve, and 120 m of beachfront on the bay.
Access is the part the marketing handles gently. The developer's website sells a 35-minute flight from Marcos A. Gelabert airport in Panama City to Pedasí, then a 30-minute drive. That route is real and worth using. It is also a limited regional service, and the fallback is a road trip of roughly five hours from the capital. Our Playa Venao area page covers what that distance actually costs you, along with the province's crime figures and why this coast is drier than the rest of Panama.
What’s included at Vervana Phase II
- Private, secluded beach
- Infinity pool
- Restaurant
- Terrace and solarium
- 24/7 security
- Gym and fitness centre
- Lobby
- Owners' lounge
Who Vervana Phase II suits — and who it doesn’t
Buyers who want a small, design-led beach residence on the Azuero coast and who can wait until 2028 at the earliest to use it. Villa Tierra, Villa Aire and the Phase I condos are all built as lock-off units, meaning the guest suite has its own entrance and bathroom and can be rented separately while you occupy the rest, so the layout favours an owner who intends to use the place part of the year rather than someone buying purely for yield. The four Templo penthouses at $590,000 and the villas above them suit buyers who want the canopy view and the private rooftop more than they want the sand. Shared facilities across both phases are a private beach and beach club, an infinity pool, a restaurant and pool bar, a gym, a sundeck terrace, an owners' lounge, a hospitality desk and 24-hour security.
If residency is part of the reason you are buying, the Ministry of Commerce and Industry's official page for the Qualified Investor programme currently sets the real estate route at $300,000 under Decreto Ejecutivo 722 of 2020, so every Phase II unit clears the threshold as it stands. That decree has been amended more than once, most recently by Decreto Ejecutivo 193 published in the Gaceta Oficial on 15 October 2024. Confirm the amount in force when your title actually transfers rather than the amount quoted when you sign.
Nothing at Vervana has been delivered. Phase I is under construction against a September 2027 estimate, and Phase II has not broken ground. The delivery date for Phase II is inconsistent on the developer's own website: the master plan section and one version of the residences carousel say 2028, another version of the same carousel says 2029. Panama Elite Homes lists it as approximately 2028. Get the date in writing rather than picking the one you like.
The master plan has already been re-cut once. The July 2024 sales launch announced 67 residences and 20 villas, and an Engel & Völkers event write-up a few weeks later described 87 residences with Phase 1 at 42 units. What is on sale today is 20 condos in Phase I and 24 residences in Phase II. Roughly half the announced buildout is not currently offered, and the first phase is less than half the size it was originally advertised at.
Permitting on this coast is not a formality. On 14 September 2024, MiAmbiente's Los Santos regional office halted five construction projects at Playa Venao for operating without approved Environmental Impact Studies, in a joint operation with ANATI, ARAP, MINSA, the Pedasí municipality and the environmental police. The five projects were not named publicly. We could not establish whether any Vervana phase was among them, and we could not locate a public record of Vervana's own Environmental Impact Study approval.
Agent pricing in the market is already wrong. The single Vervana listing on Encuentra24, published on 9 May 2026 by B&B Real Estate Panama, advertises $450,000 for a 101 m² two-bedroom lock-off condo. That is the Phase I MARE unit, described almost word for word from the developer's own copy, and the developer's list price for it is $575,000. The $450,000 belongs to the 88 m² Templo condo in Phase II. Encuentra24's automatic price-per-square-metre figure of $4,455 inherits the error. Whoever you deal with, confirm in writing which unit type and which phase a quoted price refers to before you accept it as a price.
The rental case rests on assumption. No institution publishes occupancy figures for Playa Venao, demand on this coast is weighted to the dry season, and the on-site rental programme being marketed has no operating history for the simple reason that there is no building yet. Treat any projected return you are shown as a projection.
Before you buy at Vervana Phase II
We have not verified the title on Vervana's land and will not imply otherwise. Our reviewer, a Panama-licensed real estate agent, checked the Registro Público on 4 August 2026 and found Playa Venao titled at area level, which is a better starting position than rural Azuero usually offers. It tells you nothing about this specific parcel. Coastal Azuero is the part of Panama where Rights of Possession is most common. That is an occupancy claim the state recognises but never registers as a deed, and the gap between it and registered title is the gap between owning land and owning an argument about it. Read titled versus Rights of Possession before you take anyone's word on this, including ours.
Have an independent lawyer, not the seller's, do three things. Pull the finca number, the registry's parcel identifier, for the Vervana land at the Registro Público and confirm it is registered title free of liens. Confirm the corporate seller, which the developer's own website names as Achotines Bay Development Corp. And ask MiAmbiente for the resolution number approving the Environmental Impact Study for the phase you are buying into. That third item is not a standard checklist step elsewhere in Panama. It belongs on the list here because of the September 2024 shutdowns a few minutes down the same road.
On money: RE/MAX Panama's Phase I listing gives a $10,000 reservation deposit. We could not find published deposit terms or a payment schedule for Phase II from any source. Treat the promesa de compraventa, the purchase promise contract that precedes any transfer of title, as negotiable, and have the deposit forfeiture clause read line by line before you wire anything. Phase II delivers in 2028 at the earliest, which is a long time for your money to sit against a unit that has not been started.
FAQ
What does Vervana Phase II actually cost?
Phase II runs from $450,000 to $655,000 across four unit types. On the developer's own price list, checked 4 August 2026: Templo Condos at 88 m² from $450,000, Templo Penthouses at 106 m² from $590,000, Villa Tierra at about 115 m² from $625,000, and Villa Aire at 131 m² from $655,000. The $450,000 buys the smallest unit in the phase, a one-bedroom-plus-flex condo, so read that headline figure against the unit mix rather than assuming it is an entry-level villa. Two further sources agree independently: Panama Elite Homes lists the same $450,000 and $625,000 entry points, and RE/MAX Panama lists the 131 m² villa at $655,000. Phase I, the MARE beachfront condos, is priced separately from $575,000. Every one of these is an asking price on a unit that does not exist yet, taken from the developer rather than from an aggregator, which matters for the reason set out below.
What is Vervana worth per square metre?
Using developer list prices against developer stated areas, Phase II ranges from about $5,000 per m² for the 131 m² Villa Aire to about $5,570 per m² for the 106 m² Templo penthouse, with the Templo condo around $5,110 and Villa Tierra around $5,400. Phase I is the most expensive space in the project at roughly $5,690 per m². So the largest villa is the cheapest square metre on offer and the beachfront condo is the dearest, which is what you would expect when you are paying for the beach rather than the floor area. These are asking prices on unbuilt units, not transactions, and no completed sale data exists for this project.
Why does one listing show a Vervana condo at $450,000?
Because it has the wrong unit attached to the price. The only Vervana listing on Encuentra24, posted 9 May 2026 by B&B Real Estate Panama, shows $450,000 for a 101 m² two-bedroom lock-off condo. The 101 m² lock-off is the Phase I MARE unit and the developer lists it at $575,000. The $450,000 is the Phase II Templo condo, which is 88 m² and a one-bedroom-plus-flex layout. The portal's own $4,455 per m² calculation carries the mistake forward. A portal listing is a claim about a price rather than a price. Ask for the unit type, the phase and the floor area in writing alongside any figure you are quoted.
Has Vervana delivered anything yet?
No. Phase I broke ground in early 2026 on an 18-month build with delivery estimated for September 2027, and Phase II has not started. There is no completed Vervana residence to inspect, no owner to ask, and no resale market: we found no Vervana resale listings on Encuentra24, and Compre o Alquile could not be checked from our environment. If your decision depends on seeing how this developer finishes a building at this location, the honest answer is that you cannot yet.
When will Vervana Phase II be finished?
The developer says Phase II breaks ground in 2027. Delivery is given as 2028 in the master plan section of the developer's website and on one version of its residences carousel, and as 2029 on another version of that same carousel. Panama Elite Homes lists it as approximately 2028. The developer's own site contradicts itself, so ask for the date in a signed document.
Who is developing Vervana and what have they built before?
A partnership of Chagres Capital and Valor Development, with the residences designed by Taller Alberto Calleja and the hospitality concept by Hamak Hotels. Chagres Capital, founded in 2016, lists six operating hotels in Panama including Hotel República in Panama City, Hampton by Hilton in David, Red Frog in Bocas del Toro, Onda in Boquete, Bambuda in Santa Catalina and Casa Simona in El Valle. Valor Development lists more than twenty completed residential projects in Panama City over ten-plus years. Both have real records. Neither record is at Playa Venao, and neither is in this format.
Is the land at Vervana titled?
We do not know and we did not verify it. Our reviewer confirmed on 4 August 2026 that Playa Venao is titled at area level against the Registro Público, but an area-level finding does not establish the tenure of one parcel. Coastal Azuero is where Rights of Possession is most common in Panama, so this is a question worth spending money on rather than assuming. Note also that a price on a property portal is evidence about price and nothing else: portal listings on this coast routinely advertise possession-rights land without saying so. Have an independent lawyer pull the finca number for the Vervana land before any deposit.
How many units are in Phase II?
Twenty-four. Eight Templo condos and four penthouses distributed across four boutique towers of three levels each, plus six Villa Tierra units at ground level and six Villa Aire units above them. Phase I adds another 20 beachfront condos, for 44 residences currently marketed. The 2024 launch announcements described a masterplan of 87 residences, so further units may follow, but they are not on sale today.
Does buying at Vervana get me Panamanian residency?
Possibly, through the Qualified Investor programme. The Ministry of Commerce and Industry's official page sets the real estate route at $300,000 under Decreto Ejecutivo 722 of 15 October 2020, so every Phase II unit is above the current minimum. Two points to raise with an immigration lawyer rather than a sales agent. The programme requires a property free of liens, and a Phase II unit will not have transferable title for years. And the decree has been amended at least twice, most recently by Decreto Ejecutivo 193 published in the Gaceta Oficial on 15 October 2024, so the amount in force in 2028 may not be the amount quoted to you now.
How do you get to Vervana?
The developer markets a 35-minute FlyTrip flight from Marcos A. Gelabert airport in Panama City to Pedasí, then a 30-minute drive. The alternative is roughly five hours by road from the capital down the Azuero peninsula. The flight is a limited regional service rather than a scheduled trunk route, so plan on being able to do the drive. You will need a car once you are there.
