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Tuesday, July 22 2014 @ 07:51 PM EDT

Construction In Panama Surges 34% In Spite Of Crisis

Construction & Interiors By Mabel Cruz R. for the Panama America - Many have opted to seek financing through the Panama Stock Exchange. The construction sector grew 34% in the first half of 2009, compared with same period of last year, according to reports from the Nation's Comptroller. However Superintendent of Banks said fewer disbursements to projects already underway and caution in approving new projects might have a negative impact on 2010. On this issue economist Raul Moreira, President of the College of Economists, said that in order to execute new projects the construction sector is obtaining funding through the Panama Stock Exchange as an alternative method to obtain capital for their work. He explained that if financing is restricted then unemployment will rise, thus causing the same collateral side effect to the banks who rely heavily on consumers who are looking to buy new houses and apartments. Despite this background, Juan Manuel Vasquez, the Director of the Office of Building Construction of the Municipality of Panama, said that through 31 July 2009 their office has granted 971 building permits representing a total investment of approximately $3 billion dollars. These permits, Vasquez said, have been granted for the construction of new buildings, hotels, housing developments as well as modifications to existing structures. Some sectors experiencing a growth in construction are San Francisco, Bella Vista, Juan Diaz and La Cumbres. Data from the National Institute of Statistics (INE) reflects an increase of $287 million in construction spending during the first half of 2009 (a total of $1.112 billion) compared to $835 million in the same period of last year. Juan Manuel Vasquez added that private enterprise has the greatest impact on this sector.

Editor's Comment: Alright, so in summary construction in Panama continues to grow at a healthy clip, in terms of both money spent thus far in 2009 as well as permissions for new projects approved in the first six months of the years. The banks are tightening up somewhat on their financing of projects, so the builders are turning to the Panama Stock Market and individual investors in order to raise capital, which is a relatively new phenomenon in Panama. The construction sector has already spent more than $1.1 billion in the first six months of this year, and new approvals were handed out worth more than $3 billion. Yeah, the sky is falling - because all of the Chicken Little's of the world have a clue and these guys who are playing with millions of dollars are idiots. Right... Good luck with that.

PANORAMA. CONSTRUCCION SUBE EN PRIMER SEMESTRE DEL AÑO

Repunte de 34% en sector de la construcción pese a crisis

El sector enfrenta el gran reto de mantenerse estable a pesar de la rigurosidad de los bancos al momento de estudiar la financiación con procesos más conservadores en la administración de crédito.

Mabel Cruz R. PA-DIGITAL

Muchos han optado por buscar financiamiento con la Bolsa de Valores de Panamá.

El sector construcción creció 34% en el primer semestre de 2009, comparado con igualperiodo del año pasado, según informes de la Contraloría General.

Sin embargo, la Superintendencia de Bancos indica que menores desembolsos a los proyectos en cartera y cautela en la aprobación de nuevos proyectos pueden tener un impacto negativo a partir de 2010.

Sobre este tema el economista Raúl Moreira, presidente del Colegio de Economistas, destacó que para ejecutar nuevos proyectos este sector está acudiendo al financiamiento a través de la Bolsa de Valores de Panamá como una alternativa para respaldar sus obras.

Explicó que si se restringen los financiamiento aumentaría el nivel de desempleo y por ende causaría un efecto colateral a los mismos bancos, quienes dependen en gran forma de los consumidores que, por ejemplo, van en busca de casas o apartamentos.

Permisos.

A pesar de este panorama, Juan Manuel Vásquez, de la dirección de Obras y Construcciones del Municipio de Panamá, reveló que hasta el 31 de julio se han otorgado 971 permisos de construcción, cuya inversión representa unos $3,001.16 millones.

Dichos permisos, explicó Vásquez, se han otorgado para la construcción de edificios, hoteles, urbanizaciones y modificaciones a estructuras existentes. Mientras que algunos sectores que experimentan un crecimiento en la construcción son San Francisco, Bella Vista, Juan Díaz y Las Cumbres.

Datos del Instituto Nacional de Estadísticas (INE) reflejan un aumento de $287 millones en construcciones durante el primer semestre de 2009 ($1,122.9 millones) respecto a los $835.73 millones de igual lapso de 2008; $47 millones adicionales en residencias y $239 millones en obras que albergarán nuevos negocios.

Juan Manuel Vásquez agregó que la empresa privada es la que tiene mayor énfasis en este sector.

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