Construction: Investment Falls 9% up to October 2019

Construction activity in Panama continues to decline, as in the first ten months of the year were reported $1,016 million in new construction, additions and repairs, 9% less than in the same period in 2018.

Tuesday, December 3, 2019

The most recent report of the General Comptroller of the Republic, explains that in October of this year the cost of new constructions, additions and repairs totaled $131 million, which is identical to the amount reported in the same month of 2018.

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Between the first ten months of 2018 and the same period of 2019, the total cost of construction went from $1.122 million to $1.016 million, which is equivalent to a fall of 9%.

Also see "Cement: More Business between Central America and Mexico"

From January to October of this year, Panama was the province with the highest cost of new construction, additions and repairs reported, with a total of $654 million. Arraijan and Colon followed, with $87 million and $72 million, respectively.

See report of the General Comptroller of the Republic.

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More on this topic

Panama: Construction Falls 13% up to November 2019

January 2020

Construction activity in the country continues to decline, since between January and November last year, $1072 million were reported in new construction, additions and repairs, 13% less than the same period in 2018.

The last report of the General Comptroller of the Republic, explains that in November this year the cost of new construction, additions and repairs totaled $56 million, which is 47% less than that reported in the same month of 2018.

Construction in Panama Still at Risk

January 2019

Consistent with the trend reported two years ago, in the first eleven months of 2018 the cost of new construction, additions and repairs fell 39% over the same period in 2017.

The latest report of the General Comptroller of the Republic details that between January and November of this year the cost of new construction, additions and repairs totaled $1.227 million, and the number of projects for which construction permits were granted was 9.858.

Construction in Panama: Negative Figures Persist

November 2018

Consistent with the trend reported since last year, in the first ten months of 2018, the cost of new construction, additions and repairs fell 38% over the same period in 2017.

The latest report from the General Comptroller details that between January and October of this year the cost of new constructions, additions and repairs totaled $1.122 million, and the number of projects for which construction permits were granted was 8,615.

Construction Still Not Recovered

July 2018

In the first five months of 2018 the cost of new construction, additions and repairs in Panama fell by 41% compared to the same period in 2017, going from $784 million to $456 million.

The most recent figures from the Comptroller General of the Republic confirm what has been observed in the Panamanian market since last year: a constant decline in the number and value of new construction projects. 

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AES Changuinola

In late 2005, AES began developing the Changuinola hydro power project and currently the project is in the phase of building the roadways to access that facility. The formal cornerstone laying ceremony took place on October 25, 2007. The project's total completion represents an investment of approximately $563 million and the estimated date for the Changuinola hydro power plant to go into commercial operation is the first quarter of 2011. Through this new facility, AES contributes to the country's development and helps face the growing demand of energy in Panama, which requires an additional 50 MW each year. The construction of the new Changuinola I Hydro Power Plant: * is an asset to Panama * will generate clean and 100% Panamanian energy * will create opportunities for previously excluded populations * will contribute to solve the country's energy situation * will help Panama to continue growing The construction and operation of the hydro power plant will be under the responsibility of AES, a multinational energy corporation with world-class standards and an active presence in Panama.
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