The City of Colon

The second largest city in Panama is called Colon. The city of Colon is located at the Caribbean end of the Panama Canal. The previous Panama Canal (which was left undone by the Spaniards) surrounds the city of Colon in Panama. Colón is an extremely important port. It has natural harbors and therefore the ships can easily he harbored here. It is also an important commercial center. Therefore real estate investments in Colon are on the rise. The financial district is located nearby and there are also numerous attractions in the city. This had led to the rich real estate investment in Colon. Colon was made a free trade zone in 1953. The essence of the city lies in the fact that it is the world’s second largest duty-free port.

The city of Colon was established in 1850 by Americans who were working on the Panama railroad. At that time, the city was named Aspinwall (which was the name of one of the builders of the railway until 1890). Colón is actually the Spanish form of Columbus; the neighboring port of Cristóbal is Spanish form for Christopher.

After the railways were completed in the year 1855, Colón eclipsed most of the older Caribbean ports of Panama. Previously the city was a bit unhealthy for the swamps and the waterways. Later on Colonel William C. Gorgas, who was in charge of sanitation during the canal construction, provided the city of Colon with a new system of waterworks and sewerage. He also drained the surrounding swamps.

Real Estate Investements

There are numerous nondescript monuments in the city of Colon and they only commemorate the founders of Colón: Aspinwall, Stephens and Chauncey. Most of the inhabitants in Colon comprise Afro-Caribbean descent. The investment in Colon is mainly due to the presence of natural harbor which is large and duty free. Therefore, real estates have sprung up in Colon during the recent years. The real estate investment and sale in Colon is on its way and since the city has so many attractions people are interested to buy real estate properties in this city.