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.
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.
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.