Colombia’s construction industry is expected to grow by 1.8% in real terms in 2024, following annual decline of 4.1% in 2023. According to the National Administrative Department of Statistics of Colombia (DANE), the value-add of the construction industry grew by 0.7% year on year (YoY) in Q1 2024, preceded by Y-o-Y decline of 2.1% in Q4 and 8.3% in Q3 2023. However, residential downturn is expected to weigh partially on the industry’s 2024 performance. Albeit, this will be offset by sizeable investments in infrastructure, industrial and energy. Moreover, planned investment of COP17.8 trillion ($4.3 billion) by the national infrastructure agency (ANI) towards the transport infrastructure projects in 2024 will further support growth; this includes the expansion of Rafael Núñez airport in Cartagena and the public-private partnership (PPP) for the Dorada-Chiriguaná rail corridor.
Over the remaining part of the forecast period, the construction industry is expected to record an annual average growth rate of 5.7% between 2025 and 2028, as investments attentions tailor to transport, residential, and energy. Growth will be supported by the government’s intention to invest COP101.9 trillion ($24.9 billion) during the current presidential term (ending August 2026) to develop transportation infrastructure. Investments are umbrellaed under the government’s Vision 2030 that predominately focuses on offering affordable residential housing.
Over the remaining part of the forecast period, the construction industry is expected to record an annual average growth rate of 5.7% between 2025 and 2028, as investments attentions tailor to transport, residential, and energy. Growth will be supported by the government’s intention to invest COP101.9 trillion ($24.9 billion) during the current presidential term (ending August 2026) to develop transportation infrastructure. Investments are umbrellaed under the government’s Vision 2030 that predominately focuses on offering affordable residential housing.
The Construction in Colombia - Key Trends and Opportunities to 2028 (H2 2024) report provides detailed market analysis, information, and insights into Colombia’s construction industry, including :
- Colombia’s construction industry's growth prospects by market, project type and construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Colombia’s construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Scope
This report provides a comprehensive analysis of the construction industry in Colombia. It provides :
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Colombia, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
Reasons to Buy
- Identify and evaluate market opportunities using the analyst's standardized valuation and forecasting methodologies.
- Assess market growth potential at a micro-level with over 600 time-series data forecasts.
- Understand the latest industry and market trends.
- Formulate and validate strategy using the analyst's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Table of Contents
1 Executive Summary2 Construction Industry: At-a-Glance6 Construction Market Data
3 Context
4 Construction Outlook
5 Key Industry Participants
7 Appendix
List of Tables
List of Figures