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Construction continues to boom in Panama with US $357.8 million for permits for apartments,
residences and commercial in the first quarter of the year.
Panama has extended the 20 year property tax exemption on new construction for 2 more years.
The permit must be obtained before July 1, 2009 and an occupancy permit must be issued
by December 30, 2011. Law 21, 2008 applies to both residences and commercial.
