Donald Trump yesterday announced plans to build a US$200m (£112m, 161m euro) luxury hotel development in Panama City, Panama.

The 1.8 million sq ft (167,000sq m) Trump Ocean Club, Panama, will be a partnership between The Trump Organisation and K Group, a high-end resort developer based in Panama.

It will boast a 65-storey condominium tower with around 300 condo units, an additional 500 condos, a casino and private beach club on Contadura Island. It will also include a yacht club and pier, a Wellness spa, gym and pool deck, as well as entertainment venues and retail outlets.

Roger Khafif of K Group said: “This is the first time that The Trump Organisation has invested in real estate development in Central America, highlighting the present level of confidence Mr Trump has in Panama.”

Trump added: “We expect Trump Ocean Club, Panama, to reach the success and renowned status of my other luxury projects.”

The hotel will be built in the upscale district of Punta Pacifica and have views of the Pacific Ocean and Panama Bay.

The project is expected to be completed by 2009.

As recently reported, Trump also plans to build a golf course and luxury hotel in Aberdeenshire, scheduled to open in spring 2008. Details: www.trumpoceanclub.com