Panama: Construction Sector Grows by 64%

The construction of both residential and non-residential projects grew by 64.6% in the month of April.

Wednesday, August 24, 2011

A press release from the Ministry of Economy and Finance reads:

“The construction of projects, both residential and non-residential, grew by 64.6% in April, according to a report by the Office of Economic and Social Analysis at the Ministry of Economy and Finance.

The document highlights an increase in investments in housing of 113.4%, revealing a total investment value of $386.9 million, increasing 13.9%, which breaks down as 17.6% for residential projects, and 10.9% in non-residential.

The report emphasized that construction was still mainly oriented to the development of slum areas, commercial centers, offices, warehouses and hotels, however, it also states that the public and private infrastructure works began to make a difference over the last two years.

Districts with the most residential projects were Panama, Arraiján and La Chorrera.

More on this topic

Panama: Value of New Construction Down 3% in 2016

February 2017

The value of construction, additions and repairs recorded last year fell by 3.2% compared to 2015, mainly due to a 9% drop in the value of non-residential construction.

The main reduction in value was recorded in San Miguelito, with a variation of -29%, followed by Panama, where the value fell by 8%. In the province of Arraiján the value fell by nearly 5%, while in David, Chitre, Santiago, Aguadulce and La Chorrera, the value of new construction grew by 6%.

Construction Continues to Boom in Panama

November 2012

The construction sector has kept the same pace of growth since the start of the year.

A press release from the Ministry of Economy and Finance of Panama reads:

The construction sector has kept the same pace of growth since the start of the year. Total investment in construction projects increased by 45.3% totaling B/.918.4 million ($918.4 million), 38.2% for residential projects and 61.8% for other purposes, highlights the latest report issued by the Directorate of Social and Economic Analysis at the Ministry of Economy and Finance.

$918 million in Approved Building Permits

September 2012

In the first seven months of the year the value of approved construction projects amounted to $918 million, 45.3% more than in the same period last year.

This July alone, the total approved exceeded $151 million, representing a 140% increase compared to July 2011.

Of the total number of permits approved $705 million worth was for projects to be developed in the capital, being mostly non-residential.

Panama: 48% Increase in Construction Projects

November 2011

The total public and private projects in the construction sector, grew by 48.4% untilJuly 2011.

A press release from the Ministry of Economy and Finance of Panama states:

The progress of the various works and projects under development, both National Government and private enterprise ones, is revealed in the latest Economic and Social Council report, prepared by the Ministry of Economy and Finance (MEF), which indicates that the total amount of projects in the construction sector grew by 48.4% up to July 2011.

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