Dublin, May 13, 2024 (GLOBE NEWSWIRE) -- The "Dominican Republic Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028" report has been added to ResearchAndMarkets.com's offering.
Dominican Republic's (DR) construction industry is expected to grow by 2.2% in real terms in 2024, before recording an average annual growth of 4% between 2025 and 2028. Growth in the industry will be supported by government investment into commercial, infrastructure, renewable energy, and housing projects.
After a continuous rise in interest rates since the commencement of the Russia-Ukraine war, aimed at combatting the rising inflation rate, which significantly increased construction costs, the Central Bank of the Dominican Republic (BCRD) has since reduced its interest rates. The rates were dropped between April 2023 and November 2023 from 8.5% to 7% and have since been maintained at 7% as of the April 2024 meeting, with inflation now considered under control and within the government target of 4%. As a result of this monetary loosening and with further expansion expected in the future, this will lead to an anticipated rise in business confidence, as real effects from the lower interest rates impact the real economy.
Over the remainder of the forecast period, the construction industry's growth will also be supported by the development of the renewable energy sector, in line with the country's objective to achieve carbon neutrality by 2050.
In March 2024, Dominican Republic based, Punta Cana Macao Energy Consortium announced its plan to build the FV3 photovoltaic park by 2030, in line with the country's objective to increase the share of renewable energy sources in the electricity mix from 24% in 2019 to 30% by 2030. Growth in the forecast period will also be supported by the launch of the National Road Infrastructure Connectivity and Transformation Plan by the Ministry of Public Works and Communications (MOPC). With an investment of DOP24.3 billion ($421 million), the project involves construction of a 15.3km road for reducing traffic congestion. It also includes construction of a 67.9km highway from San Pedro de Macoris to the municipality of Miches, with two new lanes. Growth in forecast period will also be supported by Inter-American Development Bank's (IDB) loan of DOP7.8 billion ($140 million) towards the country's Road Infrastructure Rehabilitation and Maintenance Program as part of Vision 2025 - Reinvest in the Americas: A Decade of Opportunity.
The report provides detailed market analysis, information, and insights into Dominican Republic's construction industry, including:
- Dominican Republic's construction industry's growth prospects by market, project type and construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Dominican Republic's construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline
This report provides a comprehensive analysis of the construction industry in Dominican Republic. It provides:
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Dominican Republic, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
Key Topics Covered:
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Latest news and developments
4 Project analytics
5 Construction Market Data
6 Risk Profile
List of Tables
Table 1: Construction Industry Key Data
Table 2: Dominican Republic, Top Construction Projects by Value
Table 3: Dominican Republic, Construction Output Value (Real, $ Million)
Table 4: Dominican Republic, Construction Output Value (Nominal, DOP Billion)
Table 5: Construction Market Definitions
Table 6: Risk Dimensions
Table 7: Ratings, Scores and Definitions
List of Figures
Figure 1: Dominican Republic, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019-28
Figure 2: Dominican Republic, Construction Output Value, by Sector (Real, $ Million), 2019-28
Figure 3: South and Central America, Construction Output (Real % Change), 2022-28
Figure 4: Dominican Republic, Construction Output by Sector (Real % Change), 2022-24 and 2025-28
Figure 5: Dominican Republic, Construction Value Add (% Change YoY, at Constant Prices)
Figure 6: Dominican Republic, Hotels, bars and restaurant services Value Add (% Change YoY, at Constant Prices)
Figure 7: Dominican Republic, Transport and storage services Value Add (% Change YoY, at Constant Prices)
Figure 8: Dominican Republic, Education sector's Value Add (% Change YoY, at Constant Prices)
Figure 9: Dominican Republic, Healthcare sector's Value Add (% Change YoY, at Constant Prices)
Figure 10: Dominican Republic, Real Estate and Rental Activities Value Add (at Constant Prices)
Figure 11: Dominican Republic, Construction Projects Pipeline, Value by Stage ($ Million)
For more information about this report visit https://www.researchandmarkets.com/r/6zg1yi
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