Ten companies and consortia entered into competition for three tenders launched by the Panama City Hall for the urban renewal of three key areas in the heart of the city.
These are the areas of Plaza 5 de Mayo, November 3rd Avenue and Student Streetprojects that together add up to an estimated investment of 17 million dollars.
The public events, held between March 20 and 27, received a total of 17 proposals, although several proponents repeat more than one process, which reduces to 10 the number of unique competitors seeking to be awarded these works for the city center.
He contract to rescue Plaza 5 de Mayo was tendered with a reference price of 7 million dollarsand is part of a package of interventions in the city center that also includes Avenida 3 de Noviembre and Calle Estudiante.
For Avenida 3 de Noviembre, the municipality set another estimated budget of 7 million dollars, while for Student Street the projected investment is 3 million. The three projects were tendered separately and are currently advancing in their competition phase between interested companies.
Who are those interested in the 5 de Mayo?
During the public opening ceremony for proposals to change the face of the 5 de Mayo area, which for a long time has been full of peddlers and homeless people, seven financial offers were presented, all in electronic format and accepted outright. That happened last March 20. The proponents are:
Constructions and General Maintenance SA: $8,680,957.08
– Centroequipos SA: $6,230,530.24
– REC Engineering, SA: $6,453,364.20
– Vertex Consortium: $6,090,777.00
– C&T Consortium 5 de Mayo: $6,915,410.00
– Aceras Panama Consortium: $6,985,828.84
– Gana-Oti Consortium: $6,054,689.85
According to the statement of objections, the 5 de Mayo project will cover the townships of Santa Ana and Calidoniaand includes study, design and construction of a comprehensive intervention to improve walkability, the organization of public space and road safety. In addition, it contemplates the installation of 25 formal kiosks to organize the peddling activity.
The work will be carried out in an approximate area of 19,321 square meters and a length of 2,208 linear metersdivided into four sections.
The expansion of sidewalks, safe crossings, ramps, transport stops, signage, LED lighting, street furniture and landscaping with 187 native trees and more than 1,600 square meters of green areasin addition to measures for stormwater management and flood mitigation.
Historically, Plaza 5 de Mayo has been an area used to hold large political rallies as well as protests of all kinds, due to its proximity to the National Assembly and its connection to Central Avenue, which leads to San Felipe, where the Presidency of the Republic is located.
November 3rd: 7 proposals in competition
In the project of urban renewal of 3 de Noviembre avenue and its connection with the coastal stripwhere the peddlers who had been evicted from the center of Calidonia and the vicinity of one of the stations of the Panama Metroseven economic proposals were also received during the event held on March 26, 2026.
The offers were:
– Vertex Consortium: $5,900,777.00
– Administration and Supervision of Civil Works, SA: $9,898,002.1
– Aceras Panama Consortium: $6,034,049.48
– REC Engineering, SA: $6,338,997.54
– C&T Consortium November 3: $6,206,000.00
– Centroequipos, SA: $5,770,000.01
– Gana-Oti Consortium: $5,817,681.05
On 3 de Noviembre Avenue, the Mayor’s Office seeks to recover walkability and revitalize urban activity, reinforcing its connection with the coastal ribbonthe central avenue, the market area and the 5 de Mayo transport node (Metro station and MiBus paid zone).
The project will impact an approximate area of 56,000 square meters, with a length of 1,250 linear meters, distributed in five sections.
The works include the rehabilitation of sidewalks, public squares, bike lanes, bus stops, street furniture, efficient lighting, signage and green areas with native vegetation.
In addition, the construction of commercial premises and a cycle route in front of the Seafood Marketconnected to the coastal strip cycle path, as an alternative for sustainable mobility.
Student Street: 3 companies seek award
For the urban renewal of Student Street and its area of influencethe public event was held on March 27with three proponents who presented the following amounts:
– Centroequipos SA: $2,500,393.91
– Aceras Panama Consortium: $2,105,875.50
– REC Engineering, SA: $2,559,735.61
The project, located in the vicinity of the National Institute, will cover 7,882 square meters and a length of 1,322 linear metersdivided into four sections. It includes widening sidewalks, reducing vehicle speeds, eliminating obstacles, safe crossings, street furniture, LED lighting and the integration of 11 kiosks for microentrepreneurs. It also contemplates the planting of 104 native trees and works for stormwater management.
The Mayor’s Office maintains that the proposals must strictly comply with the established technical standards, without reducing the scope of the works, including all phases of analysis, design and construction. The objective, according to the municipality, is to transform the capital center into a more accessible, safe and sustainable environment.
Those who repeat
Three proponents repeat their presence in the tenders in the three processes called separately.
It is about Centroequipos, SA, REC Engineering, SA and the Aceras Panama Consortiumwhose names appear as bidders in the three public events.
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