Dominican Republic Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027

Dominican Republic Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027

Summary

Following annual growth of 0.6% in 2022, Dominican Republic’s construction industry is expected to register a growth of 1.9% in real terms in 2023, before recording an average annual growth of 3.9% between 2024 and 2027, supported by government investment in commercial, infrastructure, residential, and renewable energy projects. The growth during 2023 will be supported by investment under the 2023 Draft Budget, with a total spending of DOP1.2 trillion ($21.6 billion). As part of the budget, the government intends to allocate DOP275.4 billion ($5 billion) to education, DOP137.8 billion ($2.5 billion) to healthcare, DOP49.6 billion ($892 million) to public works and communications, DOP27.4 billion ($492.8 million) to the industry, commerce, and micro, small, and medium enterprises (MSMEs), DOP10.7 billion ($192.4 million) to the tourism, and DOP3.1 billion ($55.8 million) to the energy and mines sectors.

The forecast period growth will also be supported by commercial construction projects, which includes development of Miches tourist hub, improving the tourism infrastructure in the Colonial City of Santo Domingo, among others. The construction of monorail and the cable car in Santiago with an investment of DOP36.2 billion ($647.4 million), as part of ‘Santiago 2025’ is expected to add support to the infrastructure sector. The energy and utilities construction sector’s output will be supported by the government plan to increase the expansion of wind and solar power, bringing forward a target to generate almost 25% of its total electricity mix from renewable sources by 2025 and 30% by 2030, and plans to turn the country carbon-neutral by 2050.

This report provides detailed market analysis, information, and insights into Dominican Republic’s construction industry, including -

• Dominican Republic’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 Dominican Republic’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 Dominican Republic. It provides -

• Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Dominican Republic, 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 GlobalData'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 GlobalData's critical and actionable insight.
• Assess business risks, including cost, regulatory and competitive pressures.
• Evaluate competitive risk and success factors.