As employment soars in construction, real estate promoters and buyers confront their differences.
| LA PRENSA |
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| Going up. Construction workers numbered 130,000 in 2007.971581 |
Employment in the construction industry in Panama has reached an all time high, but relations between real estate buyers and some developers are problematic.
According to unofficial figures released yesterday by the Cámara Panameña de la Construcción (Capac), the industry directly employed some 130,000 workers as of the close of 2007. It was reported that around 40,000 jobs were filled in the last 10 months.
The president of Capac, Walter Medrano, during his inauguration speech for a second term, estimated that investments during 2007 will exceed $2 billion and that mortgage lending over the last year could reach $1 billion, which reflects the granting of 25,000 mortgages.
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