2024-09-03 00:53:34
The construction of apartment towers, hotels and shopping centers that continue to emerge in the country means that the president of the Salvadoran Chamber of Construction (CASALCO), José Velásquez, predicts that the sector will close with positive numbers again this year, very similar to the 18% growth recorded in 2023.
According to Velásquez, “private projects continue and far from growing or slowing down, we see that they are growing.” However, he explained that this year it is the private sector that is driving most of the investment, since public projects are not yet contributing to economic growth, as many of them are still in the initial stages, as is the case of the viaduct on the highway to Los Chorros.
This year, the main focus is on private companies, which, according to Velásquez, are very interested in investing, especially in housing projects.
According to his estimates, private projects alone will require an investment of between 600 and 700 million dollars, of which the construction of apartments will take up the majority of that amount.
Luis Rodríguez, Director of the Metropolitan Area Planning Office of San Salvador (OPAMSS), confirmed on Thursday that in the three months he has been with the institution, construction projects with an investment value of one billion dollars have already been published and that they are already evaluating other projects that add up to investments of 4 billion dollars, focused mainly on vertical housing.
Rodriguez said that the released projects had been stopped for a few years for different reasons, but when they reached the institution they were given agility, so that they could begin to be executed as soon as possible and this would also contribute to the economic development of the country.
He mentioned that some of these projects had been under management for up to 12 years, but now, seeing the enthusiasm of the real estate sector, many developers have resubmitted their management to have agility in their processes.