Construction in Peru – Key Trends and Opportunities to 2022
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Construction in Peru
Overview
Following two years of contraction, Peru’s construction sector rebounded in 2017, registering growth of 1.5% in real terms; this can be attributed to the government’s focus on developing the mining and manufacturing sectors. In 2016, Pedro Pablo Kuczynski was elected as president of Peru, and the new government is focusing on developing the manufacturing, mining and service sectors in order to reduce dependency on mineral ore and raw material exports.
Over the forecast period, the government’s efforts to enhance transport, energy and residential infrastructure is expected to support industry growth. In September 2017, the government announced a plan to invest PEN28.0 billion (US$8.6 billion) on the development of housing, road, port, airport and dam infrastructure by 2020.
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Major Highlights of Reports:
- The residential construction market's output to record a forecast-period CAGR of 6.90% in nominal terms, driven by the government’s aim to bridge the gap between demand for and supply of affordable houses. Accordingly, in September 2017, the government announced plans to build 46,000 houses in Lircay, Huancavelica and cities such as Piura, Chiclayo and Trujillo by 2020.
• The energy and utilities construction market will be supported by large-scale investments. Under the Nacional de Electrificación Rural (National Rural Electrification Plan – PNER), the government plans to invest PEN135.0–168.8 million (US$40.0–50.0 million) annually on rural electrification by 2020.
- The infrastructure construction market to grow at a CAGR of 10.23% in nominal terms, driven by investments in transport infrastructure. In December 2017, the government approved a plan to build a new road in the border area of Ucayali. Under this plan, the government intends to build a 277km road to connect the towns of Puerto Esperanza and Iñapari.
- The government is focusing on the construction of water treatment plants, sewers and water pipelines, with an aim to provide better and safer water to residents. In 2017, the government launched the National Sanitation Plan 2017–2021, with an aim to provide a proper framework for the construction of sewage and water treatment plants in the country.
- The total construction project pipeline in Peru as tracked by the Construction Intelligence Center (CIC), including all mega-projects with values above US$25 million, stands at PEN440.2 billion (US$135.1 billion). The pipeline, which includes all projects from the pre-planning to execution stages, is skewed towards early-stage projects, with only 25.5% of the pipeline’s value being in projects in the pre-execution and execution stages as of February 2018.
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Posted by
Vivian Dsena
on Wednesday April 18 2018, 12:46 AM EST.
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