Guatemala: Construction Down by 69%

In the first quarter, the municipality of the capital city approved the construction of 243,010 square meters, 69.15% less than during the same period in 2008.

Wednesday, April 29, 2009

According to a report by the Congressional Committee on the Economy, there were 787,777 meters approved during the first four months of 2008.

Sigloxxi.com reported statements by the president of the Guatemalan Chamber of Construction (CGC), Alvaro Mayorga: "The problems have increased because of credit restrictions from the banking system. They need to take the necessary measures to protect themselves."

More on this topic

Guatemalan Construction Continues to Struggle

August 2010

Guatemalan Chamber of Construction (CGC) representatives can see no signs of recovery this year.

Jorge Montenegro, CGC president, told a press conference that, “May had the lowest index of construction activity yet, down 21.1%”.

Montenegro also mentioned that 172,165 jobs were lost in the sector between 2007 and 2009.

Construction Industry Keeps Falling in Guatemala

March 2010

January 2010 figures show a 29.6% reduction in construction permits and 41.9% in square meters.

In the home building segment, the fall was even sharper: 41.2%, according to data from the Central Bank of Guatemala.

According to Pedro Prado, from ASIES (social studies association), the government has taken too long to pass a series of stimulus measures such as Fovi (a fund for financing home building) and Foga (a guarantees fund).

In Panama, Investment in Construction Down 21%

March 2012

During 2011 the total value of approved permits for building was $1.029 billion, 20.9% less than during 2010, when it was $1.329 billion.

Gaston Regis, president of the Panamanian Chamber of Construction (CAPAC), estimates that changing market conditions over the last 3 years and a subsequent rearrangement are some of the factors causing this decline in the value of building permits.

Panama: Building Permits Show Reduction

September 2011

Between January and July the value of approved constructions fell by 14% compared to the same period in 2010.

The most valuable investments are also those that have shown the greatest decline, especially in the case of residential buildings.

Data from the Panamanian Chamber of Construction show that the largest reduction has been in high-value projects, showing that the amount of building permits issued in the period under review fell by $78 million compared to the same period in 2010 .

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Molina Arce Construcción

Company with with over 25 years of experience in the construction industry.
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Phone: (506) 2253 6746 - (506) 2224 8596

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