Business View Caribbean | May 2022

31 BUSINESS VIEW CARIBBEAN VOLUME 9, ISSUE 5 CONSTRUCCIONES SHADDAI Building homes for families to enjoy A ccording to a “Construction in Dominican Republic - Key Trends and Opportunities” report from ResearchAndMarkets.com, the Dominican Republic’s construction industry in 2021 was anticipated to grow by 23.3% in real terms – up from a previously estimated growth of 14.5%. The upward revision is attributed to fast recovery in the first half of the year and a rebound in tourism business confidence, coupled with improvement in the overall economy. This is good news considering the significant disruptions caused by the Coronavirus (COVID-19) pandemic to the Dominican Republic’s economy, with containment measures bringing many key sectors to a standstill and causing a sharp decline in construction output in 2020. In the first half of 2021, most sectors started to recover owing to the re-opening of the economy, coupled with increased vaccination.