Construction Sector Begins to Recover

After the 13% drop registered between 2016 and 2017 in the square meters of buildings processed, between 2017 and last year, there was a slight increase of 2%.

Wednesday, January 16, 2019

According to figures from the Costa Rican Chamber of Construction (CCC) the construction of the industrial sector was the fastest growing in 2018, with a 30.4% increase, thanks to the growth in the processing of warehouses.

See “Construction: $320 Million in New Projects

From the CCC statement:

Construction increased by 2.29% in 2018 compared to the previous 12 months.

In this way, the sector was able to reverse the negative trend that marked 2017, when there was a -13.34% decrease in the figures.

The data correspond to square meters of buildings processed before the Federated College of Engineers and Architects, which is the great parameter used by the Costa Rican Chamber of Construction to bring the industry pace.

The statistics include five main types of buildings: housing (single-family and condominiums), industry (industrial buildings and warehouses), commerce (commercial buildings and hotels), offices (commercial and institutional) and others (public meeting places, health and educational buildings).

Regarding the type of building, industry was the sector with the greatest growth in 2018, with an increase of 30.4%, because of the increase in the processing of wineries. On the other hand, the commercial sector grew by 1.8%, driven by the increase in commercial buildings, which offset the decrease in hotels.

The housing sector showed a slight growth, with 0.9% at the end of December; this movement was because there was an increase in the processing of single-family housing, despite the decrease observed in condominiums.

For the new president of CCC, Esteban Acón Rojas, who took office last January 1st, for 2019 the expectation is to keep a growing tendency.

"The uncertainty of the Fiscal Plan has gone, and although there are still other measures to reorganize public finances, especially on state spending, we expect construction to keep increasing, which as we know is good for the entire economy," said the new leader.

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More on this topic

Perspectives for Construction in Honduras

May 2017

The construction guild plans to close 2017 with $650 million in public and private construction projects, and achieve a growth of almost 6% compared to 2016.

Figures from the Central Bank of Honduras indicate that in the first two months of this year private construction registered a 2% increase compared to the same period last year. Revistaconstruir.com reports that  "... the recovery comes as a result of the development of residential, commercial and industrial works in the municipalities of the Central District, San Pedro Sula and Choloma, among others in the northern zone."

Costa Rica: Construction Up 13% in 2016

January 2017

7.4 million square meters, of which 50% corresponded to housing, 28% to commercial buildings, 8% to offices and the rest to industrial and other buildings have been officially processed.

From a report by the Association of Engineers and Architects (CFIA):

Construction in Nicaragua: Figures for I Quarter 2016

July 2016

In the first quarter of 2016, the total area effectively constructed registered an annual decrease of 13.5% and a growth of 4.7% in the annual average.

From the report on Private Construction in Ist quarter of 2016 by the Central Bank of Nicaragua:

Costa Rica: Construction Numbers in First Half of Year

October 2014

Between January and July 2014 the total amount of square meters constructed in the country amounted to 1,608,018, just 0.5% more than in the same period in 2013.

The sector reported the largest number of square meters built was housing, which increased by 0.23% compared to the same period last year.

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Molina Arce Construcción

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

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