Salvadoran construction sector in crises.

The amount of sector loans decreased 22.5% in eight months, the number of loans dropped by half and $60million in bidding rounds were never implemented.

Monday, November 10, 2008

The situation is critical, especially since this drop may be even greater because final quarter results for the year are not included, explained the Executive Director of Casalco, Ismael Nolasco.

Sector employment fell 1.2 per cent during the third quarter of 2008, he confirmed.

More on this topic

Improvements to Partnerships Act in El Salvador

July 2013

Businessmen want to expedite the process of approval by the Legislature, in which Proesa is the governing body, and which may include water and sanitation projects.

Members of the Council for Growth are seeking Congressional support in order to make three amendments to the Special Act on Public-Private Partnerships.

Airline sales drop 14% in El Salvador

February 2009

The 6 airlines operating in the country experienced a drop in yearly sales of around 14.6%, or a reduction of $10.5 million in income.

According to the article on elsalvador.com: "...the type of traveler which had the greatest decrease in demand was the regular tourist, hence the companies are focusing their efforts on business travelers 'who have to continue traveling and to do so on specific dates', said Quinteros, manager of Mexicana in the country."

One Third of Salvadoran Construction Firms Without Work

March 2009

The prospects of the construction sector for this year are a 4% decrease.

Ismael Nolasco, executive director of the Salvadoran Construction Industry Chamber (CASALCO) informed Elsalvador.com: "There are no closed businesses, but 30% of them just pay taxes and services and go to the office because there is no work; sector outlook for this year is that there will be a 4% decrease and this estimate translates into businesses closing."

El Salvador: Home Rental Market Heats Up

June 2010

Salvadorans are gearing more towards renting homes, as buying real estate is becoming increasingly difficult, due to little credit and complicated paperwork.

Additionally, banks are lending little money to build new homes. According to Casalco (Salvadoran Chamber of Construction), home building loans have dropped 73.4% in the first quarter of 2010.

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