Construction Companies Increase Production Value: INEGI

The National Survey of Construction Companies (ENEC) informed that the production value of construction companies grew in real terms in Jan. 2022 in comparison to Dec. 2021, as Mexico continues to announce construction projects for 2022, according to National Institute of Statistics and Geography (INEGI).

“At an annual rate and with seasonally adjusted figures, the real value of the production of the construction companies registered an increase of 10.5 percent, the total employed personnel of 4.9 percent, hours worked increased by 6.4 percent and real average wages increased by 3.6 percent,” explained INEGI via a press release.

Mexico has revealed several construction projects this year. For example, Puebla’s government and the national housing chamber announced the construction of 7,000 homes in the city’s downtown. The project seeks to provide dignified housing for the state’s low-income population via INFONAVIT loans or direct purchases, as reported by MBN. The homes will have estimated values between MX$500,000 (US$24,340) and MX$1 million (US$48,680).

In the southeast, the Ministry of Infrastructure, Communications and Transport (SICT) and the government of Quintana Roo are working on three highway projects to provide better connectivity in the state via a private-public alliance. The SICT announced the construction of the Nichupte vehicular bridge, the modernization of Boulevard Luis Donaldo Colosio and its junction with the airport, as well as the extension of Avenue Chac Mool and its connection with other means of road communication, as reported by MBN.

Mexico’s newest airport, the Felipe Angeles International Airport (AIFA), brought a real estate boom to the region where it is located, as reported by MBN. The National Chamber of the Housing Promotion and Development Industry (CANADEVI) reports that municipalities surrounding Santa Lucia will welcome thousands of new residents throughout the next few years, resulting in the construction of more than 70,000 homes in the area.

INEGI concluded that in Jan. 2022, the production value generated by construction companies recorded a monthly rate increase of 3.7 percent in real terms.