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Construction in Colombia, Key Trends and Opportunities to 2020

  • December 2016
  • -
  • Timetric
  • -
  • 69 pages

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Synopsis
In real terms, the Colombian construction industry registered the growth rate of 3.9% in 2015, 10.5% in 2014, 11.5% in 2013, 5.9% in 2012 and 8.2% in 2011. Economic recovery coupled with government investments in infrastructure and residential construction, increased the issuance of building permits and contributed to growth.

According to the Departamento Administrativo Nacional de Estadística (DANE), the country’s national administrative department of statistics, Colombia’s total area under construction increased by 2.5%, from 11.5 million m2 in 2014 to 11.8 million m2 in 2015.

The country’s construction industry will continue to expand in real terms over the forecast period (2016–2020) due to investments in transport infrastructure, energy and utilities, and affordable housing projects. Additionally, government investment in public infrastructure and educational healthcare buildings as part of the 2016–2020 Development Plan will support the growth.

Over the forecast period industry growth will be supported by the government’s National Development Plan 2014–2018, population growth, urbanization, and favorable government policies with regards to public-private partnership (PPPs).

In real terms, the industry’s output value is anticipated to post a forecast-period compound annual growth rate (CAGR) of 2.82%; a slowdown compared to 7.90% CAGR witnessed during the review period (2011–2015).

Summary
Timetric’s Construction in Colombia, Key Trends and Opportunities to 2020 report provides detailed market analysis, information and insights into the Colombian construction industry, including:

- The Colombian construction industry's growth prospects by market, project type and type of construction activity

- Analysis of equipment, material and service costs across each project type in Colombia

- Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Colombian construction industry

- Profiles of the leading operators in the Colombian construction industry.

- Data highlights of the largest construction projects in Colombia.


Scope
This report provides a comprehensive analysis of the construction industry in Colombia. It provides:

- Historical (2011-2015) and forecast (2016-2020) valuations of the construction industry in Colombia using construction output and value-add methods

- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type

- Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)

- Analysis of key construction industry issues, including regulation, cost management, funding and pricing

- Detailed profiles of the leading construction companies in Colombia

Reasons To Buy
- Identify and evaluate market opportunities using Timetric's standardized valuation and forecasting methodologies.

- Assess market growth potential at a micro-level with over 600 time-series data forecasts.

- Understand the latest industry and market trends.

- Formulate and validate strategy using Timetric's critical and actionable insight.

- Assess business risks, including cost, regulatory and competitive pressures.

- Evaluate competitive risk and success factors.

Key Highlights
- The industry is expected to be supported by government plans to develop public infrastructure, educational infrastructure, the tourism and manufacturing sectors under the PIPE 2.0 – Plan de Impulso a la Productividad y el Empleo. It intends to invest COP16.8 trillion (US$6.1 billion) with the aim of maintaining sustainable economic growth and creating 300,000 jobs by 2018.

- As robust and modern transport infrastructure is vital for the growth and competitiveness of Colombia’s economy, the government is focusing on infrastructure development. Under the 4G highway program, it will invest COP191.1 billion (US$70.0 billion) by 2035 to renovate 8,000km of road and construct 3,500km of four-lane highway by 2020.

- The government is focusing on the development of sea ports and airports in a bid to increase trade. Under the National Development Plan 2014–2018, the government plans to build two new airports with an investment of COP6.3 trillion (US$2.3 billion) and expand sea ports with an investment of COP5.8 trillion (US$2.1 billion) by 2018.

- Over the forecast period, residential property prices are expected to remain buoyant due to a demand for residential property and a housing deficit. According to the DANE, the new housing price index increased by 7.1%, from 97.7 in 2014 to 104.6 in 2015. This was preceded by an annual growth rate of 10.2% in 2014, 11.4% in 2013 and 10.8% in 2012.

- To meet the country’s rising energy demand, the government aims to increase the nation’s power generation capacity. In September 2016, Ecopetrol announced plans to invest COP43.6 trillion (US$13.0 billion) to increase its oil production capacity by 2020 and under the Energetico 2050 plan, the government plans to establish smart grids.

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