Construction in Panama Still at Risk

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.

Friday, January 4, 2019

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.

You may be interested in "Construction: $340 million in Educational Projects"

Figures for the first eleven months of 2018 are far from those reported up to November 2017, when the value of projects exceeded $1.997 million, and the number of projects exceeded 11,000.

Also see "Public Works: $1.1 Billion in New Projects"

During the first eleven months of last year, Panama was the province recording the highest cost of new construction, additions and repairs reported, with a $826 million total and a million 296 thousand square meters. It was followed by La Chorrera, Arraiján and Colón, with $102 million, $93 million and $88 million, respectively.

See General Comptroller's report.

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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.

Panama: Construction Figures at the Beginning of 2019

March 2019

Consistent with the trend of the last two years, in the first month of 2019 the cost of new construction, additions and repairs fell 39% compared to January 2018.

The most recent report of the General Comptroller of the Republic details that in January of this year the cost of new constructions, additions and repairs totaled $71 million, and the number of projects for which construction permits were granted was 998.

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 in Panama: Negative Figures Continue

November 2018

In the first nine months of 2018, the cost of new construction, additions and repairs decreased 40% with respect to the same period in 2017, reaffirming the trend shown since last year.

The latest figures from the General Comptroller detail that between January and September of this year the cost of new constructions, additions and repairs totaled $991 million, and the number of projects for which construction permits were granted was 7,557.

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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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