15 April 2016
The Amsterdam School of Real Estate (ASRE) spoke to StigΔ for an article on their website. Both founders of StigΔ are ASRE alumni.
English summary: ‘Area Development from Scratch’
Ever since its opening in 1931, the 81 kilometer long Panama Canal has been an important link in the international shipping industry. Every year, about 14,000 ships pass through the Canal, at least 40 a day, most of which are containers, tankers and reefers. There’s just one thing: the ships sail on, which means the Panamanian economy doesn’t profit from their passing through the Canal.
“So how can the Panamanian economy benefit more from this shipping industry?” That was the central question Stig founders Arènso Bakker and Onno Roelofs asked themselves when they applied for a tender on the development of the West Bank of the Panama Canal. Together with Antea Group and Croonenburo5, StigΔ got the tender in 2015.
Central to StigΔ’s plan for developing the West Bank is the return of transshipment, which took place in the Canal in earlier years. If the right business conditions are in place, this could happen, argued StigΔ. The key could be the nearby huge market of the American east coast, the coasts of Brazil to Colombia, the western Californian coast, the coasts of Peru and Chili and even Asia, which is only a short stretch from South-America. The Panama Canal is the central hub to achieve all this from. For the Panamanian economy to benefit from transshipment, StigΔ suggested developing value added logistics and industrial activities.
This resulted in a master plan for the 1200 hectares that the West Bank comprises, for which StigΔ drew insights from ASRE’s teaching methods. As StigΔ founder Arènso Bakker says: “It will take some time to develop 1200 hectares, but nobody said developing from scratch was easy!”