Wednesday, 19 June 2024 15:41

Sri Lanka Construction sector activities accelerate to double digits Featured

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The all-important construction sector in Sri Lanka added much more heft in the first three months of the year, from the growth recorded in the final three months of last year, as the borrowing costs declined while the construction sector material prices softened.

According to the latest data, the construction sector registered a robust growth of 14.2 percent in the first three months of the year from the same period in 2023, accelerating from 4.0 percent growth in the final quarter of last year.

After nearly two years of decline, the construction sector activities returned to some growth in the final quarter of last year, in a sign of return of building activities in housing, commercial and infrastructure.

The construction sector participants said they witness rising opportunities but the competition is high when participating in the tender process.

 

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