ICA to build artificial islands in Panama
ICA Panamá, the local unit of Mexico's leading constructor ICA, is planning the US$140 million development of two artificial islands off Punta Pacífica.
Tuesday, May 20, 2008
The project will require 4 million cubic meters of infill, equivalent to two of the Egyptian pyramids, said Diego Hernández, chief executive of ICA Panamá.
The bonanza the construction sector has enjoyed in recent years could be coming to an end.
International investors plan to build a US$1.5 billion "city on the sea" in the Panamanian province of Veracruz.
Although construction of residences and hotels has been the leader in real estate growth in Guanacaste, commercial buildings that spring up as a complement to the residential development are not far behind.
The San Carlos region of Costa Rica, long a favorite of tourists, is fast becoming a top location for companies, especially those in the food and services sector, and construction is booming as a result.
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