After two years of contraction and a slow first half of 2017, the construction sector recorded much-welcomed growth at the end of the year. As a response to the political challenges and natural disasters of 2017, the government passed two milestone documents that look ahead to the coming years: an anti-corruption law and the ambitious Reconstruction Plan budgeted at PEN25.7bn ($7.9bn). Although the private segment of the construction sector contracted through the end of 2017, positive results may…
Construction & Real Estate
From The Report: Peru 2018
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After two years of contraction and a slow first half of 2017, the construction sector recorded much-welcomed growth late in the year. In response to the political challenges and natural disasters of 2017, the government passed two milestone documents: an anti-corruption law and a PEN25.7bn ($7.9bn) Reconstruction Plan. Although the private segment contracted in 2017, positive results may follow from the anticipated public sector revitalisation. Overall, the construction sector is expected to be a mobilising force in 2018. The real estate sector had high expectations for 2017, with the Economic Report on Construction by the Peruvian Chamber of Construction (Cámara Peruana de la Construcción, CAPECO) predicting 6.6% growth. However, the sector ended the year with only 2.4% growth. Despite this, the real estate sector managed to perform 57% higher than other goods and services sectors. Projections for 2018 remain high, with CAPECO reporting that real estate developers have a higher than average growth projection of 80%. This chapter features interviews with Gonzalo Sarmiento Giove, CEO, Inversiones Centenario, and Carlos Neuhaus Tudela, President, XVIII Pan American Games and VI Parapan American Games of 2019.