Dominican Republic Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027
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Dominican Republic Construction Market Report Overview
The Dominican Republic construction market size was $34.2 billion in 2022. The market is projected to achieve an AAGR of more than 3% during 2024-2027. An anticipated rise in the investors’ confidence owing to declining interest rates since July 2023 will support market growth during 2024-2027.
Dominican Republic Construction Market Outlook, 2022-2027 ($ Billion)
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The Dominican Republic construction market research report provides detailed market analysis, information, and insights into the Dominican Republic construction industry including the industry’s growth prospects by market, project type, and construction activity. The report also delivers critical insight into the impact of industry trends and issues and an analysis of key risks and opportunities in the Dominican Republic construction industry. It also analyzes the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. The market report discusses the sectors in the construction market and provides an overview of each sector along with their driving factors.
|Market Size (2022)||$34.2 billion|
|Key Sectors||· Commercial Construction
· Industrial Construction
· Infrastructure Construction
· Energy and Utilities Construction
· Institutional Construction
· Residential Construction
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Dominican Republic Construction Market Segmentation by Sectors
Infrastructure construction was the leading sector in the Dominican Republic construction market in 2022.
The key sectors in the Dominican Republic construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction.
Commercial construction: The commercial sector’s growth over the forecast period will be supported by a recovery in the tourism sector, resulting in an improvement in the investment in the construction of leisure and hospitality buildings. Furthermore, with the central bank’s forecast to reduce the interest rate by the end of 2024, investment in the construction of retail buildings and office buildings is expected to gain impetus over the forecast period.
Industrial construction: The industrial sector growth during the forecast period will be supported by an improvement in FDI and in export activity. A rise in FDI coupled with the Central Bank’s target to reduce interest rate by 2024 will support investment in the industrial construction sector to meet the rising demand in export markets.
Infrastructure construction: The growth of the infrastructure sector will be supported by public and private-sector investments in road, rail, port, and airport projects, in line with the government’s focus on developing transport infrastructure.
Energy and utilities construction: The sector growth will be supported by the government’s commitment to increasing the production of renewable energy, mainly from solar and wind power. The government is focusing on a rapid expansion of wind and solar power, to increase its total electricity mix from renewable sources and achieve carbon neutrality by 2050.
Institutional construction: Forecast-period growth in the institutional construction sector will be supported by an improvement in investments in healthcare and education building projects. Additionally, the rising elderly population in the country is expected to boost demand for healthcare facilities in the coming years, thereby attracting investments in healthcare buildings over the medium to long term.
Residential construction: The government’s focus on improving housing conditions and providing citizens with affordable housing will support the residential sector growth during the forecast period. The sector output will also be supported by the ‘Happy Family National Housing Plan (PNVFF)’ which aims at building several homes through a public-private partnership by 2025.
Dominican Republic Construction Market Analysis by Sectors, 2022 (%)
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Dominican Republic Construction Market – Latest Developments
The largest project in the pipeline is the Pedernales Tourism Development project which involves the construction of six hotels of Hilton, Marriott, Sunwing, AM Resorts, Iberostar Group, and Karisma Hotels & Resort, a drinking water distribution system, and a sanitary drainage system, among other works.
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Segments Covered in the Report
Dominican Republic Construction Sectors Outlook (Value, $ Billion, 2018-2027)
- Commercial Construction
- Industrial Construction
- Infrastructure Construction
- Energy and Utilities Construction
- Institutional Construction
- Residential Construction
This report provides:
- A comprehensive analysis of the construction industry in Dominican Republic.
- Historical and forecast valuations of the construction industry in Dominican Republic, featuring details of key growth drivers.
- Segmentation by sector 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.
Table of Contents
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Latest news and developments
4 Project analytics
5 Construction Market Data
6 Risk Profile
7.2 CRI Methodology
7.3 About GlobalData
Frequently asked questions
What was the Dominican Republic construction market size in 2022?
The construction market size in the Dominican Republic was $34.2 billion in 2022.
What is the Dominican Republic construction market growth rate?
The construction market in the Dominican Republic is projected to achieve an AAGR of more than 3% during 2024-2027.
Which was the leading sector in the Dominican Republic construction market in 2022?
Infrastructure construction was the leading sector in the Dominican Republic construction market in 2022.
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