Already a recognisable symbol of prosperity along the Panama City skyline, office buildings continue to play a central role in the country’s real estate sector. Although demand has increased for office space, general trends indicate that rental prices remain relatively steady, contained largely by the many square metres slated to become...
One of the country’s most representative sectors, construction has been a major driver of GDP growth over the past decade. While crucial public infrastructure works are leading this surge, the private sector is also playing a significant role through residential and commercial developments, all contributing to exceptionally low unemployment...
For the past decade Panama has registered impressive economic growth. According to the World Bank, GDP growth averaged 6.8% from 2000 to 2012, while government figures show double-digit growth for four of the past seven years. Economic development has been fuelled by heavy public sector spending on infrastructure, particularly the $5.25bn expansion of the Panama Canal, which should ensure long-term growth.
Local cement consumption grew by 15.76% in 2012 and continued rising in the first half of 2013, at monthly rates of 3-24%. Dante Carhuavilca, chief of economic and social studies at the National Society of Industries, told OBG, “Cement production will continue to be propelled by growing demand, in infrastructure, roads, public works in general,...
The prime office market is a segment to watch. Even after adding six new buildings with more than 51,000 sq metres to Lima in 2012, the initial vacancy rate for prime office space dropped to 2.2% in 3Q 2013, down from 2.4% in 3Q 2012. Such high demand has limited market options for leading companies doing business in Peru, but it is also laying...
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.
Register Here×