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| | Global Real Estate News, IRED |
 | | Under treaty terms, thousands of former U.S. military buildings, installations and other facilities-ranging from schools and hotels, to golf courses and airports, and 328,645 acres of real estate-will be completely transferred to Panamanian ownership and control by 1999. |
 | | According to the 1977 Panama Canal treaty, the U.S. is gradually returning property surrounding the canal, including more than 7,000 buildings worth an estimated $4 billion. |
 | | Like Hong Kong earlier this year, the Panama Canal is counting down to a change in sovereignty, with the man-made waterway switching to Panamanian control from U.S. authority at midnight on December 31, 1999. |
| www.ired.com /news/tax/971119.htm |
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