Nortia Corporation, headed by its president Manuel Lao, allied with Panamanian developer Jacobo Torres' Multicentro Group to build the Megapolis Nortia Tower in Panama City.
The project, which will begin in late 2009, is expected to be completed in three years and will be a 74-story, 2,200-room 5-star hotel in three categories that could be operated by Radisson. In addition, it will have a congress palace, meeting rooms, leisure center, spa and a casino of 5,000 square meters.
Lao said that the Panamanian hotel sector has a good market for its exploitation; suffice it to say that at the beginning of 2008 it had a hotel plant of 3,650 rooms that added to the ongoing projects and the next ones for 3 years will reach 7,500 rooms.
