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 company says that rights to build artificial islands form part of its government concession for the construction and management of the Corredor Sur urban highway.

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Costa Rica's San Carlos feels the buzz of new business

May 2008

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.

Growth in commerce and real estate began in 2006, when 1,328 building permits were issued. Last year the total rose to 1,764, and a new record is looming in 2008.

Investors plan US$1.5 billion 'city on sea' in Panama

May 2008

International investors plan to build a US$1.5 billion "city on the sea" in the Panamanian province of Veracruz.

The project, to be known as Panamarina Pacific, includes 231 buildings and 2,000 moorings. The buildings will be erected on a platform over the sea.
The consortium proposing the project includes includes investors from France, Spain and Argentina and is headed by the Argentine magnate Calos LLamas.

Costa Rica: Construction hints at slowing down

April 2008

The bonanza the construction sector has enjoyed in recent years could be coming to an end.

The recession in the United States has caused many real estate projects to stall as a result of declining confidence among some foreign investors who now see an uncertain future.
Signs of this include the pessimism reflected in low North American consumer confidence and the loss of at least a quarter of a million employees so far this year there. Other factors include the sizable increases in oil prices and the fall in property values.

Business increases in Guanacaste, Costa Rica

April 2008

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.

In 2007 building permits for 347,184 square meters were solicited, almost 80 per cent more than in 2006.

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