El Salvador Reactivates Construction Projects

Fourteen projects, valued at $188 million, will start running as soon as they have obtained the permits which had previously been held up due to bureaucratic obstacles.

Monday, August 1, 2016

Elmundo.sv reports that "... The projects will start to be executed after the National Administration of Aqueducts and Sewers (ANDA) and the Ministry of Environment and Natural Resources (MARN) expedite the granting of permits, said the Government, as a result of joint work with private enterprise. "

See: "El Salvador: Construction Industry in June 2016"

Among the projects which are to be implemented are "... the construction of the Quattro office tower , Residencial Las Gardenias II, Colegio Maya (located in Tuscania, Zaragoza), Torre Granadinos, Plaza Malta, Condominios Residencial Concordia, Santa Rosa Condominos Zorzalitos, Portal Tierras Altas, Condominios Costa del Sol, Puerta de Alcalá, La Torre, and a piece of land in Lomas de San Francisco. "

The president of the ANEP, Luis Cardenal, "... stressed the importance of government institutions being more expeditious with the granting of permits. 'As a private company we propose that the government reduce interinstitutional and customs red tape, in order to facilitate national trade. The construction industry is one of the main sources of employment in the country'."

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More on this topic

El Salvador: Lack of Political Will to Revive Construction

May 2015

The government has yet to make operational the law streamlining procedures for construction approved in late 2013, delaying the start of projects totaling more than $700 million.

Although it seems hard to believe, a law which was approved more than a year ago can not be implemented due to the lack of "real will to make the necessary changes." Meanwhile, construction projects estimated at about $700 million can not advance, having been drowned in excessive state bureaucracy.

El Salvador: Construction Still Suffocated by Paperwork

February 2015

The ineffectiveness of the law streamlining procedures for construction, approved in late 2013, is delaying investment of at least $700 million in projects planned for this year.

Bureaucratic obstacles to construction continue and as long as the law streamlining procedures for construction is not operational, around $1,6 billion will remain paralyzed, this being the amount estimated that the private sector would have invested in real estate development projects in the next five years.

El Salvador: Bureaucracy Continues to Hamper Construction

June 2014

The industry claims that the law streamlining procedures is not being implemented in all institutions involved in the permitting process.

The law which aims to reduce the time it takes to gain authorization for medium and long term real estate projects from 880 days to 175 days, is not being applied equally by state entities.

El Salvador: Construction After Banking Flexibility

April 2009

In the absence financing solutions, the construction union sector initiated meetings with private banks.

The Salvadoran Construction Industry Chamber (CASALCO) is not seeking massive loans, but more flexibility in granting credit.

La Prensa Grafica published on its website: According to Nolasco, the hope is to find new funding mechanisms in private banking, as well as to know what the requirements are to gain access to resources. Earlier this year, several construction companies went to the the Multisectoral Investment Bank (BMI) to look for financing mechanisms that would allow the development of 11 housing projects that needed an investment of $70.1 million, of which $31 million was expected to be obtained from the second-tier bank."

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