The new millennium has signaled the start of robust and sustained growth for the construction industry in Peru after decades of stagnation.
Over the past 15 years, the construction industry has expanded at rates of up to 16 percent per year, and cement companies experienced vigorous growth, with production increasing from 3.6 million metric tons in 2000 to 10.6 million in 2015.
"This growth has taken the form of infrastructure, housing developments, retail, industrial, business, tourism and mixed projects all over the country," Alberto Gonzalez, general manager of the Lima-based real estate consultant CIDI, told Latin Trade.
The favorable financial situation in place at the start of the new century fostered the proliferation of public investment projects and large-scale infrastructure concessions, Outstanding among these are the network of URSA highways that are uniting South America through ground transportation, financed with investment commitments of over $3 billion and Lima's Metro network, starting with two lines that require investment of more than $6 billion.
The wave of private housing construction has changed the face of Peru's main cities notably. In the 1980s and '90s, the housing shortage spawned massive occupations of land in the outskirts of the large coastal cities. These shanty-towns typically sprung up without planning and urban services.
Today, the visitor sees an endless parade of high-rise buildings, housing complexes built to shelter the new middle class, modern office buildings in the upscale districts of San Isidro, Miraflores and Surco in Lima, and premium residential condominiums that boast high quality architectural design.
The construction boom and...