Panamanian Construction Sector Growing

Construction projects in November 2010 registered the highest increase in years marking a 20.4% over the same period last year.

Tuesday, February 22, 2011

The Report in the Economic and Social Activity for November 2010, prepared by the Department of Economic and Social Analysis of the Ministry of Economy and Finance, noted that the increase was much more in residential projects (20.9%) than on non-residential (9.6%) .

The report uses figures from the National Institute of Statistics and Census Office of the Comptroller of the Republic, which reveal that the number of residential projects continued to grow considerably in the districts of La Chorrera (96.2%), Aguadulce (92.5%), Arraiján (36.8%), Chitre (16%), Panama (13.8%) and San Miguelito (5%).

The report details the investment per square foot for residential construction, which was 13.4% higher than 2009, and above average, were San Miguelito (46.9%), Chitre (26.9%), Santiago (25.3%) , Panama (23.9%), Arraiján (14.5%) and Colon (14.1%).

It also highlights the Panama Pacific Special Economic Area listed as one of the centers for commercial and industrial development of the country, having several regional offices of multinational corporations, expecting over the coming months the arrival of Sony Corporation, LG and Samsung.

"The arrival of these large multinational companies involves the construction of buildings and facilities, which constantly encourages construction activity”.

More on this topic

Panama: Value of New Constructions Up 11%

December 2017

Between January and October, the cost of new construction, additions and repairs totaled $1.8 billion, 11% more than was reported in the same period in 2016.

The most recent figures from the Comptroller General of the Republic show that the highest value of new constructions, additions and repairs was registered in the province of Panama, with a total of $1.308 billion. They were followed by David, Chitré, Santiago, Aguadulce and La Chorrera, with $246 million.

Costa Rica: Good Figures for the Office Market

October 2017

The availability rate for the real estate segment of rental offices is 10%, and the average price per square meter is around $19.

The dynamism of the activities linked to the services sector is the main driver of the growth in the office market segment in the Greater Metropolitan Area.

Costa Rica: New Construction Works up to October 2016

November 2016

Between January and October this year 8.7 million square meters of construction was formally recorded, 14% more than in the same period in 2015.

From a statement issued by the Association of Engineers and Architects:

San José, November 14, 2016. In the first nine months of 2016, more than 8 million square meters have been registered with the CFIA, a value that is 14% higher than the amount reported in the same period in 2015. The data corresponds to the registration of professional responsibility for construction plans which all projects must submit to the CFIA prior to applying for a municipal building permit.

Panama: Real Estate Boom in Suburbs of Capital

July 2014

The increase in residential real estate projects around the center of Panama City has doubled land prices in some areas in the space of five years.

The real estate boom experienced in Panama City can now be seen in the prices of residential projects in areas previously considered as "suburbs" where residential real estate developments are priced at over $80,000.

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