Construction & Real Estate

Colombia’s construction sector remains an engine of economic development, both as a driver for employment and a significant contributor to GDP. In 2014 the sector grew by 9.9%, and accounted for over 1.4m direct jobs, according to Colombia’s National Statistics Bureau. Much is now resting on a new stimulus package launched in May 2015, the Plan for Production and Employment. The $6.2bn plan, to be implemented in the period 2015-19, is expected to have a positive impact on the construction sector, due to its focus on housing, the acceleration of expenditure on large-scale infrastructure and a programme to rebuild public schools across the country. Meanwhile, housing demand continues to fuel Colombia’s real estate sector, with government-sponsored initiatives encouraging the construction of new homes for lower-income Colombians, and the growth of the middle class galvanizing demand for medium-income housing.

This chapter includes an interview with Carlos Jacks, President, CEMEX.