Official announcement of the "Trump Ocean Club, International Hotel Tower Panama" will take place today in New York City at the Trump tower. At a press conference Donald Trump and a group of investors, as well as the Panama ambassador to Washington, will launch the North American real estate guru's first venture in Latin America.

The investment is for around US$220 million, and seems to be the largest of its kind in the region. The complex will feature a marine themed design similar to Dubai's Burj Al Arab, which is the most luxurious hotel in the world. In his inimitable way, Trump said: "This is the most exciting project in Panama and Latin America".

The project is the brainchild of local entrepreneur Roger Khafif from K Group, who had been seeking a high profile strategic partner to bring the project alive and run the complex that will house a condominium, hotel, marina, shopping mall and a casino. The tower will have 63 floors with a height of 863 metres, built on 14,000 square metres in the area known as Punta Pacifica. (E-04.24.06)

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