Social Housing: A $588 Million Business

Since 2015 to date, contracts have been awarded in Panama for $588 million to build 30,550 social interest homes, at an average price of $19,260 per housing unit.

Wednesday, July 26, 2017

During the years 2015, 2016 and so far in 2017, the government of Panama has awarded $588 million in contracts for the construction of 30,550 social interest homes, paying an average price per housing unit of $19,260.

Main construction companies
In the period in question Global Service and Equipment, MCM Global, Constructora Rodsa, Asincro Panama Corporation, International Business and Trade LLC and Compañía Jera obtained contracts for $350 million to build 17,500 homes, equivalent to 60% of the total value awarded.

Awards per year
In 2015 the Panamanian government awarded contracts for the construction of 14,050 social houses for an amount of $268 million, in 2016 the value of the contracts awarded increased to $311 million and the number of housing units to 16,000. So far in 2017, only $10 million has been awarded to build 500 homes.

Contracts pending award
In addition to the 51 contracts for $588 million awarded since 2015 to date, there are another 68 unawarded contracts that have a reference value of $495 million, some of which were declared void and others are waiting for their respective tender act to take place.

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More on this topic

$111 Million Awarded for Urbanization

December 2018

Ingenieria Rec, S.A. was awarded the urban renewal project "Altos de Los Lagos - Second Stage," which consists of the construction of 1,620 homes on a 23-hectare site.

On December 12th, the contract for the urban renewal project of the City of Colon was published in the portal PanamaCompra, which includes a second phase located on a polygon of about 23 Hectares, in Los Lagos sector, Cristóbal neighborhood, Colón District, Province of Colón and which will be called "Altos de Los Lagos Project - Second Stage."

Awards: Urban Improvement for $26 million

October 2016

Constructora MECO won the contract for the design and improvement of public space, road and pedestrian infrastructure, and easements in Calle Uruguay, in the district of Panama.

Taking part in the tender were:  Ortiz Construcciones y Proyectos, S.A. with a proposal of $27.8 million and Constructora Meco, S.A.; MCM Global consortium, made up of Munilla Construction Management LLC / MCM Global, S.A., Conalvías Construcciones, and Asociación Accidental C&C Construye, all four with economic proposals of $26.4 million.

Awards: $66 million Residential Complex

April 2016

In Panama a contract has been awarded to the company Ingeniería REC, SA to design and build a social housing complex in the province of Veraguas.

In the tender for the supply of materials, labor, equipment and administration for studies, design and construction of the building project and infrastructure called "Urbanization San Antonio" in the province of Veraguas, the company Ingeniería REC, S.A.

Panama: Odebrecht Awarded "Curundú" Project

January 2010

Brazilian company "Constructora Norberto Odebrecht" won a $94 million contract to develop the infrastructure project.

The evaluation committee awarded the best score to Odebrecht, before the other two pre-qualified companies: Meco S.A. and Constructora Urbana S.A. (Cusa).

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