MLMUPC Approves 3,900 construction projects worth $5.4B in 11 months
More than 3,900 construction projects were approved by the Ministry of Land Management, Urban Planning and Construction (MLMUPC) in the first 11 months of 2021, decreasing 403 projects from the same period last year.
The Socio-Economic Trends Report of the Ministry of Economy and Finance showed that all construction projects approved are worth $5,456 million, dropping 22.1% year-on-year.
Residential project represents 86 percent of the total construction project and in the first 11 months MLMUPC approved 3,284 residential projects, a decrease of 268 projects from the same period in 2020.
Despite the decrease of construction project, the import of construction materials saw a 22.5% increase in value.