The San Miguel Bypass was 80% complete by the end of February. /DEM
El Salvador’s construction sector continues its unstoppable momentum, fueled by rising demand for public and private projects expected to invest millions of dollars this year 2023.
There are many reasons that have encouraged investment in the construction industry. Whether it is a strategy to attract investment, a strategy to meet housing demand, or a strategy to relocate informal traders, all of these will trigger the implementation of projects and the sector as an enhancer of the economy. reaffirming the role of
In September 2022, the Central Reserve Bank (BCR) said the turnaround in construction was in response to “accelerated” implementation of projects for road infrastructure, improvements to education centers and programs of the Department of Local Public Works (DOM). I assure you.
The Salvadoran Construction Chamber (Casalco) expects about $1.8 billion to be allocated to public and private projects this year.
Casalco highlighted that among its most “iconic” projects are the expansion of the San Miguel Bypass, the Integration Roundabout Overpass and the Claudia Lars Roundabout Overpass.
At the public level, at least seven stadiums that will serve as sporting venues for the 2023 Central American and Caribbean Games have also been transformed, with the construction of Vila Centroamericana at the University of El Salvador (UES).
Casalco executive director José Velásquez has indicated that the Los Chorros Viaduct will be built this year, a building for the Office of the Attorney General (FGR) and an extension of the Surf City Tourist Route.
Private companies such as Grupo Agrisal have confirmed investments of more than $50 million in Plaza Mundo Usulután, which is expected to be ready in the first quarter of 2024.
Salvadoran firm 3 Torres Desarrolladora de Inmuebles is building a high-rise apartment complex near San Francisco. The project, called Capitello 26, has $10 million in it.
3 Torres is also investing $10 million to build the Trib Vertical Building, which is expected to open next May.
Investments in the construction sector will add more than 28,048 contributors by the end of 2022, mobilizing employment in a sector that promises to grow by 13% this year.
Some construction projects in 2023
OPAMSS assured earlier this year that the construction sector would generate 40% of national investment and, together with real estate, account for 12% of GDP, according to information from BCR and the Ministry of Economy.
1.- Elevated integration
Located on Constitución Boulevard, connected to the Pan-American Highway. Construction will start in July 2022 he. An investment of nearly $39 million has been allocated and is expected to be completed by July.
2.- Sports scenario
Sports complexes such as the Jorge “El Machico” González Stadium, El Polvoline, Flor Blanca and Ciudad Merriott have been intervened through a $115.2 million loan from CABEI.
3.- Villa in Central America
Located at the University of El Salvador, nearly $30 million will be invested in the construction of 13 buildings and an additional 12 interventions. This is part of his $115.2 million loan from CABEI.
4.- Escalon Market
In the San Salvador metropolitan area, the Escalón market is under construction at $18 million and the new National Library at $54 million from China has announced construction of the Ex-library market.
5.- Historic center
The capital’s mayor’s office has confirmed that DOM will rebuild the former Libertad cinema. The mayor confirmed new investments in the historic center, including hotels, housing and a coffee market.
The Department of Public Works said in February that construction of the new Los Chorros highway could begin this month, pending CABEI’s approval of the tender. The project will cost about $300 million.
7.- Usulutan World Square
Grupo Agrisal will invest $50 million in the construction of Plaza Mundo Usulután for this project.
The first stones have already been laid and are expected to be completed in the first quarter of 2024.
8.- Chapter 26
A company called 3 Torres invested $10 million in an apartment tower called Capitello 26 near San Francisco in San Salvador. Also under construction is his Trib project, due for completion next May.
9.- Technology Free Zone
CEPA announced last January that it would build a technological free zone at San Romero airport in 2023. It is located on the outer harbor land of the air terminal.
The government has announced that it will intervene in over 5,000 education centers from September 2022 onwards. Last January, the Ministry of Education announced that about 70 education centers were undergoing renovations.