Construction investment down 49.5% but rebound begins

 
493Views 2Comments Posted 09/05/2021

Investment in construction in the first quarter ghfell 49.5%, although there was a notable rebound  in March. and The Panama  Construction Chamber (Capac) reports that all the projects that were paralyzed in 2020 are already active

According to the  Comptroller General between January and March, constructions, repairs and additions totaled $137.8 million throughout the country.

Although the  Capac reports 8,000 suspended labor contracts, most of them in state projects.

Jorge Lara, president r of Capac, said that demand continues to be low and it will not be until the end of the first semester when there will be a better perspective.

However, he commented that in March there was a 62% increase in cement production and a 0.5% increase in ready-mix concrete, a good sign of a recovery in the sector.



Comments 2

user
802MARK

hotels were not anywhere near being 30 percent full even before the virus. also building materials have gone up so much who can afford to build anything.

1 month ago
user
Gigi

You can build it but they will no longer come! Panama has set itself back 20 years with it's new authoritarianism. There are thousands upon thousands of empty apartments and hotel rooms in Panama, please don't build anymore.

1 month ago
The comments are the responsibility of each author who freely expresses his opinion and not that of Newsroom Panama.
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