Market conditions

01 May 2008

The recent appointment of zaragoza as the host city for the internationalexpo 2008, which could result in up to €100 million being invested in the city, is expected to drive visitor numbers at SMOPyC up to a new record. The new buildings and infrastructure that will be constructed for the Expo will transform Zaragoza and continue to push the strong Spanish construction sector.

SEOPAN, the Spanish association of construction companies, expects the sector to grow by +3,5 % on 2004 with the recent Government subsidised public housing building program the driving force behind it. The Association of Property Developers of Madrid predicts that around 620000 new homes will be built in Spain during 2005 and Government figures predict that the construction sector will account for 11 % of GDP growth over the coming year.

The Ministry of Public Works has also approved a 'special Road Plan' which will begin to be implemented this year and a 'strategic Infrastructure and Transport Plan' is set to be approved this year, with a completion date of 2020. Part of the plan includes the construction of 6000 km of new high-capacity highways and 9000 km of high-speed railroads. Total investment in these projects is tipped to be around €240 million. SMOPyC's timing is perfect with the country set for long-term investment and contractors looking to invest in the machinery to work with.

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