What opportunities are in the construction sector in Peru?

At the moment the construction sector in Peru is booming. The growing Peruvian middle class and the increase in tourism is driving economic growth. All over the country, new malls and hotels are being built, and high housing demand means Lima and other urban areas are swiftly developing.

Additionally, the government plans to attract private investments into infrastructure construction. This article will go over the growing industry and show you the resources you can make the most of to establish or set up a company in Peru. This could be in the construction sector in Peru or in any other sector.

Biz Latin Hub can help you navigate the legal waters of the construction sector in Peru and our array of market leading back office services will keep you compliant and allow you to focus on what you do best: growing your business. Not only that, but we can help you across the region via our network of 18 dedicated local offices throughout Latin America and the Caribbean.

Business Opportunities – The Peruvian Construction Sector

The construction sector, as any other sector, needs a market in order to be able to grow. Right now the Peruvian market and economy is growing steadily and therefore offers significant investment opportunities in the construction sector, both in the real estate and infrastructure sector.

According to the Chamber of Commerce of Lima, the construction industry will expand over the coming years and according to the National Statistical Agency, the construction of office buildings and shopping malls is constantly growing.

With an annual GDP growth rate of 2.1 and an increase to PEN$7971 million of GDP from the construction sector in Peru, it can be said that Peru’s construction sector is an important growing industry which provides great opportunities for investments.

Real Estate Construction in Peru

As mentioned above, the Peruvian real estate sector is an important and growing business sector in Peru. The capital city of Lima has a high potential for real estate construction, due to a high housing demand and higher living standards generated by the growing middle class. Besides that, the corporate area, especially the Peruvian business tourism industry, is growing, representing construction opportunities for new modern office buildings, hotels, and congress centers, in the districts such as Miraflores and San Isidro.

Outside of Lima, there is a lot of construction potential along the northern and southern coastal areas. Whereby the highest potential has been detected at the coastal areas south of Lima, offering beautiful beaches for the perfect summer vacations, including constructions of private clubs and shopping malls.

Also for the middle-class summer, residential houses and vacations are more and more important. In terms of Tourism and Hotel development, the natural reserve Paracas is becoming an important destination, for nature and water sports lovers, offering tourists 325 days of sun each year, making it the perfect get away.

Peru’s Infrastructure Construction

Besides the real estate construction sector, there is high potential in the infrastructure construction sector, due to high growth rates and government development plans. The Peruvian government wants to reduce the infrastructure gap and is therefore interested in investing in private sectors.

The government plans to boost infrastructure development through 80,000 large and small projects all over the country by involving various sectors, such as the building of schools and police stations, as well as railway, road, ports and airport network expansions throughout the whole country.

In order to improve the countries connectivity, he works together with the Peruvian Ministry of Transport and Communication and private companies from the construction sector in Peru who will be involved during the whole development process.

Invest in Peru’s Construction Sectors

The Peruvian construction sector remains attractive for foreign construction companies. Entering a new country is always complex and not without risks. In order to invest in Peru, you might want to consider legal risks, immigration services, due diligence services, or recruitment services to get your company set up and move your investment forward.

Biz Latin Hub can help you with the construction sector in Peru

Our group of lawyers, accountants, and market analysts specialize in the provision of Market Entry support, Back Office Services, and Legal Services.

If you have any questions or enquiries about how to set up a company or corporation in Peru, our Peruvian business experts have created a company formation presentation. We hope it helps! If you have any more questions about how to incorporate your company in Peru, please do not hesitate to contact us now.

Our Biz Latin Hub team in Peru includes local and expat professionals who have the knowledge and expertise to support you throughout the process.