Business View Caribbean | May 2022

32 BUSINESS VIEW CARIBBEAN VOLUME 9, ISSUE 5 The Central Bank of the Dominican Republic (BCRD) reports that the construction industry’s value-add index grew by 41% year on year (YoY) in the first six months of 2021. The tourism sector generated 26.8% more revenue in the first half of the year, compared to the same period in 2020, according to the BCRD. In October 2021, the central bank predicted a high annual GDP growth of 16% for 2021. Furthermore, the construction industry is expected to expand at an annual average rate of 5.8% between 2022 and 2025, supported by the government’s efforts to raise investment on transport infrastructure, commercial and energy construction projects. The industry’s output over the forecast period will be supported by the government’s focus on developing the country’s infrastructure. In September 2021, President Luis Abinader launched an urban planning project called ‘Santiago 2025’, which involves an investment of DOP42 billion (US$715.4 million) on the execution of new infrastructure works in Santiago over the next four years. All this speaks to the positive momentum building for real estate and development companies in the Dominican Republic. Construcciones Shaddai is a leading firm in that sector, dedicated to the construction of first line apartments. At the same time, they offer design, construction, and works supervision services. Construcciones Shaddai believes in building AT A GLANCE CONSTRUCCIONES SHADDAI WHAT: A development company specializing in construction and real estate WHERE: Based in Santo Domingo, Dominican Republic WEBSITE: www.construccionesshaddai.com