Chanis vs. Obarrio vs. Casco Viejo: Which Panama City Area Is Best for Your Commercial Space?
When it comes to setting up a commercial space in Panama City, location is everything. But with so many diverse neighborhoods, how do you decide where your business or investment will thrive?
In this guide, we compare three of the city's most strategic and talked-about areas:
Chanis,
Obarrio, and
Casco Viejo (also known as
San Felipe or
Casco Antiguo). Each zone offers its own unique advantages, from historic charm to modern infrastructure and emerging opportunities.
Casco Viejo (San Felipe): Culture, Tourism, and Prestige
Casco Viejo, Panama’s most historic district, is a UNESCO World Heritage Site known for its colonial architecture, artistic flair, and high foot traffic from both locals and tourists.
Strengths:
- Ideal for boutique hotels, restaurants, art galleries, and high-end retail
- Unique architectural character and high visibility
- Government incentives for restoration in specific zones like Santa Ana
- Constant tourist traffic = strong exposure
Challenges:
- Stricter building codes and restoration requirements
- Parking and traffic can be limited
- Higher upfront renovation costs
Casco Viejo is perfect for brands that want to stand out in an iconic setting. It offers long-term value through exclusivity and heritage appeal — but you’ll need to factor in preservation costs and local regulations.
Obarrio: Panama City's Modern Business Core
Obarrio is the heart of Panama City’s financial and business district. Skyscrapers, corporate offices, and luxury residences make this one of the most active commercial zones in the country.
Strengths:
- Excellent infrastructure: roads, utilities, public transport
- Close proximity to banks, embassies, and law firms
- Ideal for offices, medical clinics, co-working spaces, and flagship retail
- High pedestrian and vehicle traffic = strong visibility
Challenges:
- More competitive and higher lease rates
- Zoning regulations favor certain commercial uses
- Less "cultural" charm compared to Casco Viejo
Obarrio is best for businesses seeking a polished, professional address in a high-traffic, high-performance area.
Chanis: An Underrated Gem with Growth Potential
Chanis is a quieter, mixed-use neighborhood that blends residential and commercial life. While not as flashy as Obarrio or historic as Casco, it’s becoming increasingly attractive for forward-thinking investors and businesses.
Strengths:
- More affordable entry points for buyers and tenants
- Great for local service businesses, cafés, offices, or mixed-use developments
- Family-friendly vibe with less congestion
- Room for growth and development
Challenges:
- Lower visibility than Obarrio or Casco
- May lack walkability or public transit options in some areas
- Less foot traffic = slower ramp-up for new retail
Chanis is a smart play for those who want to get in early before prices spike. It’s a fit for entrepreneurs or investors who want flexibility, community access, and potential upside.
Choosing the Right Neighborhood for Your Business
Each of these neighborhoods — Casco Viejo, Obarrio, and Chanis — offers distinct commercial advantages:
- Casco Viejo: Cultural cachet and tourism
- Obarrio: High-traffic business core
- Chanis: Emerging, affordable, adaptable
Need help finding the right commercial property in any of these zones? Explore our commercial listings in Panama City or Contact FCA Group to start your personalized search.
