Madrid/Santa Cruz de Tenerife 30 Mar. (Europa Press) –
The construction sector’s activity in the Canary Islands declined by 9.5% in 2024 compared to the preceding year, outpaced by the Basque Country (-17%), among the autonomous communities that witnessed a reduction in the number of projects available, as per information from Nalanda, the Document Management Platform for the Coordination of Business Activities in Spain.
In total, the Canary Islands had 887 projects on offer during the previous year, down from 980 in the year prior.
Specifically, in 2024 there were 424 projects available between January and June, and 463 during the latter half of the year, from July to December.
On a national scale, the construction sector in Spain saw a 5% upturn, primarily occurring in the second half of the year, which experienced a promotion surge of 12%.
Overall, there were 21,037 projects presented on this platform throughout the year, compared to 20,044 the previous year, with Catalonia at the forefront as the region with the highest number of projects.
Specifically, Catalonia accounted for 4,066 projects, making up 19% of the total, followed by Andalusia with 2,741 (13%); Madrid with 2,720 (13%); and the Valencian Community, which contributed an additional 2,274 projects, nearly 11%.
The regions that experienced the most significant increases in project numbers included Navarra (+39%), Cantabria (+25%), Castilla y León (+21%), the Balearic Islands (+21%), and Madrid (+20%), alongside Melilla, which recorded a 63% increase, albeit with a relatively small total of 36 projects offered.
Additionally, Aragon (+17%), Asturias (+12%), Valencian Community (+10%), Castilla-La Mancha (+7%), and Extremadura (+7%) also exceeded the average growth rate, as did Catalonia and La Rioja (+5%).
Conversely, regions that saw decreases included the Basque Country (-17%), the Canary Islands (-9.5%), Andalusia (-8%), and Galicia (-7%).
A striking 78% of the projects available were budgeted up to 500,000 euros, followed by those with financial plans ranging from 1 to 10 million euros, constituting more than 11% of the platform’s offerings. Projects over 10 million euros accounted for over 2% of the total.
“The construction sector enjoyed a robust growth trajectory in the second half of the year; whilst the works presented on the platform decreased in the first half, there was a significant rebound in the latter half, with an increase nearing 12%, which enabled the overall annual rise to be 5%. This signifies that construction continues to grow at a rate surpassing GDP (3.2%),” remarks Ricardo Muriel, the marketing director from Nalanda.
