- DONT BE FOOLED - Punta Pacific and Punta Paitilla are NOT the heart of the city. Also Panama City has been dumping raw sewage into Panama Bay for so many years it smells BAD! Anything along the water stinks unless you are very high up. The Bank District is THE central location to everything that truly matters. The locals know this. Also people that live here or know Panama City would rather avoid driving in Panama City. Even if you are used to it there are many "white-knuckle" responsibleents. Contact for more details