From 2008 to 2012, the construction sector posted average real annual growth of 20.4%. The value of construction projects in 2013 was estimated at $1.4bn, up from the $1.2bn in 2012, $984m in 2011 and $744m in 2010. A host of big-ticket items are listed in the 2014 budget, including $577m to construct and maintain roads and bridges; $152m to finish facilities for the 2015 Pacific Games; $25m...
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Chapter | Construction & Real Estate from The Report: Papua New Guinea 2014
Papua New Guinea is poised for change, as the country’s mineral riches are providing a major opportunity for economic development through the exploitation of natural resources. The government’s five-year strategic plan focuses on key development enablers such as free education, improvements to health services, the strengthening of law and order, rural development projects and infrastructure construction.
Articles & Analysis | Finance structure on public-private deals raises concern from The Report: Colombia 2014
Infrastructure development plans are focusing on the concession model to support the expansion of road connections. However, the initial market response to the projects has left much to be desired. Despite the pre-qualification of up to 10 companies for each of the first four projects to be tendered by the government in April 2014, the response from operators has so far...
Articles & Analysis | The sector continues to grow steadily, despite a lack of available land from The Report: Colombia 2014
Driven by demand for housing and a mounting construction sector, real estate in Colombia has been experiencing healthy growth. Fears of an impending bubble have so far been exaggerated, as the housing stock is being absorbed by high demand and a well structured mortgage system. The real estate sector accounted for 8% of GDP in 2013, according to figures by the Colombian...
Articles & Analysis | New building incentives help to tackle the housing gap from The Report: Colombia 2014
Ever since entering office for its first term in 2010, the government of President Juan Manuel Santos has put the construction of new homes for Colombians as one of the top priorities. Despite being behind its target of building 1m homes over the 2010-14 period, the government has been able to establish a consistent level of housing development. Much of the impetus has...
Articles & Analysis | Homebuilding and ambitious infrastructure plans drive expansion from The Report: Colombia 2014
Buoyed by a strengthening of the government’s housing programme, as well as a continued emphasis on improving transport infrastructure across the country, Colombia’s construction sector is well positioned for growth over the coming years. Construction of highways and other infrastructure is accelerating, as successive tenders for the Fourth Generation (4G) road projects...