Estimations are of an increase of 10.5% for 2016 and 14% for 2017, after a 7% increase was registered in 2015, compared to the previous year.

In January 2016 alone, the number of new buildings in the main districts of the country amounted to 448, “… with a value of around 161 million Balboas, with a positive impact in the districts of Panama, San Miguelito, La Chorrera and Arraijan, where 85% of all buildings are concentrated. ”

See details of some of the latest construction projects announced in the country:

“Environmental Permit for Multi Million Dollar Project”

“Panama: Residential Complex for $137 million”

“Panama: 36 km Road Announced”

“Panama: $58 million in Residential Projects”

“Panama: Electricity Works for $42 million”

From a statement issued by the Ministry of Economy and Finance (MEF):

The Minister in charge of Economy and Finance, Ivan Zarak, noted that the projected growth rate of construction in 2016 is 10.5% and it is expected to reach 14.0% in 2017, remaining a thriving sector in Panama’s economy, according to estimates by the institution.

Zarak, during the presentation of the financial perspectives for 2016 to members of the Panamanian Chamber of Construction (CAPAC), said that in 2015 the sector grew by 6.8%, contributing about 8 thousand million dollars to Panama’s Gross Domestic Product (GDP).