Highest number of investment in construction since 1997

Investments in the construction sector registered the highest increase of the last 22 years in the first three months of 2019. Between January and March, investment increased by 12.4%, reaching the historical maximum of 1997. “It was, indeed, one of the best trimesters that I can remember of”, the President of the Portuguese Confederation of Construction and Real Estate (CPCI) stressed in a statement to Público. Manuel Reis Campos also mentions the sector is “finally retaking the place that once belonged to it” and “is getting ready to the next decade of investment”.

According to the CPCI, the sum of investment done in the sector during the first trimester of 2019 reached 4,151M€. However, Manuel Reis Campos notes the construction sector is still behind the level it should be to be able to follow the sustainable growth of the country. “We need public investment to be scheduled and programmed. There is one year left for the beginning of a new decade. And no plans were made about it.”, stressing that the increase was private initiative’s exclusive merit.

The President of CPCI highlights that public investment is still low. “The construction sector should represent 11% of the GDP. We still are far away from that reality”, quoting the recent statistics of the Observatory of Public Construction.

According to these indicators, public investment in this sector registered a negative variation of 12%, reaching the positive ground in May with a 6% nominal increase. ” Portugal is still not converging with Europe in this sense”, Manuel Reis Campos warned, stressing that “public investment is essential”.