eXp World Holdings announced the expansion of its real estate operations into Panama. The company, which is the holding company for eXp Realty, will operate under the banner of eXp Panama.
Michael Valdes, President of eXp Global, will lead the expansion process, while Luis Pimentel will lead eXp Panama’s brokerage operations.
“The opening of Panama is one more critical step in the expansion of eXp in the Caribbean and Latin America region (CALA),” Valdes said. “Panama has long been an attractive destination for foreign investment in real estate, boasting high housing demand and a resilient property market, all factors that we believe make Panama an ideal market for our model. We have received an incredible amount of interest from agents in the country and are truly looking forward to expanding the incredible culture of eXp to such a dynamic market.”
Pimentel has more than two decades of experience in the real estate sector and is the past president of the Panamanian Association of Real Estate Brokers and Developers. He has also been elected to serve on the board of directors of the National Association of Realtors as an international member.
“I am already a strong believer in the agent-centric culture of the company and am confident that our entrance in the Panama market will create positive changes in the lives of agents and in the end buyer and seller,” Pimentel said. “Our country has never seen anything like this.”