Greetings from Pedasi!

It’s time for another update on our beautiful home in Panama. First, an important announcement:

AIR PEDASI NOW FLYING!!

On February 5th Aeroperlas, one of Panama’s two domestic airlines, will begin flying from Albrook Airport in Panama City to Pedasi. The 55 minute flights will depart mid-day on Mondays and Fridays to start with and a Wednesday flight will hopefully be added soon. Price per ticket will be between $65 to $75 each way, depending upon the price of fuel. To book a ticket please contact us or you can book online at: www.tacaregional.com. Under "Planning and Reservations" click on ‘Pedasi’ to see the flights. Times are as follows:

Departure Arrival

Panamá– Pedasi 12:30 13:25
Pedasi- Panamá 13:40 14:35

Both Aeroperlas and the Panamanian Ministry of Tourism are promoting this new flight heavily. Thrifty and Hertz will meet travelers at the airport in Pedasi with rental cars/suvs. Andromeda has created a tourist map of the area to pass out at the airport. You may still want to drive down the next time you visit, but now you have another option.

In both development and sales, the first few weeks of 2010 have been very exciting. On the development front, we have signed a contract with Tecnis to install infrastructure in the project beginning immediately. On the sales front, we just completed a very successful trip to Calgary and Toronto where a total of 9 lots were put under reservation! Apparently there are a few Canadians who would like to have a break from the freezing cold. This put a serious dent in the amount of lots remaining in Phase 1. Phase 2 will soon be open for sales with an estimated 20-25% increase in price. The true “ground-floor” opportunity in Andromeda is just about done. Many of you already own more than one lot in the project. If you’ve thought about adding to your ownership or inviting friends to have a look, please contact us for pricing and availability. As always, referral credit and discounts apply to existing owners.

DETAILS ON TECNIS

Tecnis is an infrastructure engineering company that represents Golan Plastic Products Ltd. from Israel. The management includes engineer Avi Barak (General Manager) and Mr. Itzhak Keren (Operation Manager) who are an important part of this Israeli group.

Tecnis has gained profound experience and a superior reputation in the fields of water and gas structures with companies such as: Tropigas, Empresas Bern, CMG ,El Sitio Hotel in Playa Venao, and more construction companies in Panama.

Inside Andromeda Ocean Estates Tecnis will use all of its previous experience from other projects, quality materials that comply with the U.S. ASTM (American Society for Testing and Materials Standard), and a sophisticated technology that is environmentally efficient. Their work includes a treatment plant that will purify the waste water a 97%, direct it to a reserve tank where it will be stored for use in the project’s irrigation system. Such a system avoids contamination of the water sources and the ocean, something that is incredibly important to the developers of Andromeda.

The water supply system will be based on pure well water and Israeli PEXGOL pipe system to avoid leakage in the future. The system chosen for Andromeda has been successfully used in other projects around the world as can be seen at www.pexgol.com/Pex-Pipes-Catalog/Pex-Pipe-System-World-Wide-Projects.pdf

The electric system will be completely wired underground to avoid exposed wires so you can enjoy a beautiful, uninterrupted view of the project from any point.

The roads inside the project will be built with natural local stones.

During every step of the infrastructure construction there will be inspections performed by independent laboratories to certify compliance with the U.S. ASTM standard for water systems and Union Fenosa’s standards for electric.

OH CANADA!

Our trip to the great white north started at the 2010 Recreation & Investment Properties Trade Show in Calgary, Alberta on January 15th, 16th and 17th. Daniel Rudasevski (from the “hot” part of Israel) and Alberto “Tico” Socarraz (from Miami) braved the freezing temperatures to mingle with the good folk of Alberta. Good job, brave souls! The trip was an unqualified success, bringing us several new clients as well as a lot of interest from area real estate professionals looking to get in on the action. We also have several couples who have already booked tickets to come tour Andromeda in the coming months. Daniel and Tico ended up staying an additional day to handle the demand. Then it was off to Toronto where Daniel met with several clients and potential clients. These meetings were by appointment only and we kept him busy by filling his schedule. Toronto was also a great success, so much so that Daniel is planning a trip back in Early March. We will keep you posted.

As expected, the start of the dry season has brought an increase of visitors to Pedasi. Our office is getting more walk-in traffic and the hotels and restaurants are brimming. With Carnival just around the corner and then Easter Week (both big holiday weeks in Panama), we look forward to more and more exposure for Andromeda. We hope to add you and your family to the list of visitors in the very near future.