Balboa Avenue is Panama's most famous promenade and thoroughfare, stretching along the waterfront between the Casco Viejo (Old Town), the financial district and Punta Paitilla. It is lined with some of the city's most prestigious projects overlooking the Bay of Panama, with luxury high-rises, shopping malls, restaurants and shops jockeying for position on this impressive roadway.
It is currently undergoing an expansion to relieve traffic congestion by linking some of the city's major roadways, and beautification of the waterfront, with an additional 35 hectares to include green zones, pedestrian walkways, sport facilities as well as cultural and recreational facilities. Once the expansion is completed in 2009, Balboa Avenue promises to be a major attraction in its own right for residents and tourists alike.