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Latin America Investment News on Viva Tropical

Panama Approves $918 Million in Building Permits

Article Summary:

In the first seven months of the year the value of approved construction projects in Panama amounted to $918 million, 45.3% more than in the same period last year. This July alone, the total approved exceeded $151 million, representing a 140% increase compared to July 2011.

Photo Credit: Prensa

Original Article Text From Prensa via Google Translate :

Permits Value Grows 45%

Most of the projects will be implemented in the capital. PRESS / Eric Batista
The value of construction, additions and repairs approved in Panama from January to July totaled $ 918 million, $ 286 million or 45.3% more than the same period last year, according to the Comptroller General of the Republic.

Only in July were approved projects for $ 152 million, up 140% from $ 63.5 million in the same month last year.

The data show that the development will continue to focus on the city of Panama. Of the $ 918 million approved in the country, $ 705 million for projects in the capital. Most of the projects is for nonresidential ($ 567 million), which will continue to gain ground on residential ($ 351 million).

These permits ensure that the construction activity will remain strong in the coming years.

Indicators such as the production of cement concrete and gray, reflecting the current level of activity, also experience growth. By July there were 984,000 meters cubic of concrete, 9.6% more than in the same period of 2011.

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From Prensa

Latin America Investment News on Viva Tropical