At the end of the first quarter, the value of new constructions, additions and repairs amounted to $567 million, 10% more than in the same period in 2016.
The figures compiled by the Office of the Comptroller General detail that the value of new construction, additions and repairs in the first quarter of the year reached $567 million, led by the province of Panama, with $343 million.
The annual reduction of 2.7% in the amount of construction area was mainly due to a drop of nearly 10% in residential construction and 4% in commercial construction.
From the report "Private Construction in the IV quarter 2016" by the Central Bank:
The results indicate that the amount of construction area recorded an annual decrease of 2.7 percent (-7.2% in 2015.IV), and -6.7 percent in the annual average.
The union of builders is opposed a bill creating a paid paternity leave for workers, arguing that there would be economic repercussions for businesses.
From a statement issued by the Panamanian Chamber of Construction:
The Panamanian Chamber of Construction described the measure as being inconsiderate of the large economic impact it would have on companies, after the initiative was put forward by the Minister of Labor and Workforce Development (MITRADEL), detailing the creation of paid parental leave for workers with the intention of maintaining an egalitarian gender policy with regard to women.
If the projections of the union are accurate, between public and private investment, $900 million will be earmarked for new construction projects this year.
Although official figures have not yet been revealed, the Salvadoran Construction Chamber (Casalco) estimates that in 2016 the sector's growth was 2.5%, and realistically this year they predict an overall increase of just 1% more than last year.
7.4 million square meters, of which 50% corresponded to housing, 28% to commercial buildings, 8% to offices and the rest to industrial and other buildings have been officially processed.
From a report by the Association of Engineers and Architects (CFIA):
The growth which occurred during 2016, was mainly due to the dynamism of the housing sector and the commercial sector, which increased by 8% and 26% compared to 2015.
Companies that carry out construction work for the government will have to set up CCTVs in order to monitor projects in real time.
The rule applies from this year for all projects worth more than $116,000, and contractors must publish the IP address on the public procurement website, Guatecompras.
Luis Catalan, Undersecretary of Public Investment, told Elperiodico.com.gt that in addition"... for this year georeferencing is mandatory for all projects, which according to the classification of the Ministry of Finance, are considered fixed capital."
The total value of constructions, additions and repairs reported between January and September 2016 fell by 12% compared to the amount recorded in the same period in 2015.
Figures from the Office of the Comptroller General of Colombia show that September was the month which recorded the highest value with $225 million, followed by January with $224 million. The lowest value was recorded for new constructions, additions and repairs, was in July with $104 million.
An agreement between the union of builders and the Social Housing Fund has allowed the time frame for obtaining a building permit to be reduced from between 90 and 120 days to 47 days.
The agreement between the Chamber of Builders of Nicaragua (Cadur) and housing authorities will allow construction companies to handle the process for new construction projects through a single window in different institutions and not only with the Fovial.
The eventual increase from $20 thousand to $23 thousand as the ceiling price for affordable housing is seen with good eyes by the construction sector, which expects an increase in demand.
A spokesperson for the union of builders and developers in the country explained that if the increase is formalized more families will have access to financing at preferential interest rates, enabling them to buy a home through the Social Fund (FOSOVI).
A university campus and renovation of roads are some of the construction contracts which were awarded by state institutions in August 2016.
The report"Construction Projects in Panama",prepared by the Business Intelligence unit at CentralAmericaData.com contains a detailed list of major construction projects taking place in Panama.
Moody's has downgraded the Brazilian construction company and does not foresee its financial profile significantly recovering over the next 12 months.
The construction company is currently running three major projects in Panama: the urban renovation of Colon, with a value of $537 million, the construction of Metro Line 2, for $1.8 billion, and the expansion of Tocumen International Airport.
The Costa Rican companies MECO and Productos de Concreto have formed an alliance with the Nicaraguan Lacayo Fiallos to create the construction company Concrenic, which has already started operations in Nicaragua.
With a joint investment of $5 million, the company Concrenic has announced the start of operations in Nicaragua, where it will specialize in the construction of pipes, pavers, blocks, poles and tiles, among other products.
A proposal has been made for the extension of the route to Ciudad Pedro de Alvarado, valued at $280 million and abandoned by the original contractor, to be divided into sections and assigned to local construction companies.
The construction company Sigma, whose legal representative is involved in the State Cooption case has desisted from continuing the work of expanding to four lanes the route to Ciudad Pedro de Alvarado, for which it had been allocated $280 million from a CABEI loan.
Between $26.4 million and $27.8 million is the range of five proposals submitted by five consortiums for the urban renewal project Calle Uruguay, Bella Vista.
Taking part in the tender were Ortiz Construcciones y Proyectos, S.A. with a proposal of $27.8 million.The Companies Constructora Meco, S.A.; MCM Global consortium, made up Munilla Construction Management LLC / MCM Global, S.A., Conalvías Construcciones, and Asociación Accidental C&C Construye.The four companies submitted economic bids of $26.4 million.
Plans are being drawn up to build a high rise residential condominium with 75 apartments on 10 stories in Escazu, San Jose.
The report data "Construction Projects in Central America",prepared by the Business Intelligence unit at CentralAmericaData.com, indicates that the developer 3-101-638198 S.A.