Construction in Venezuela - Key Trends and Opportunities to 2018

Published: Oct, 2014 | Pages: 66 | Publisher: Timetric
Industry: Construction | Report Format: Electronic (PDF)


Synopsis
This report provides detailed market analysis, information and insights into the Venezuelan construction industry, including:
The Venezuelan construction industry's growth prospects by market, project type and type of construction activity
Analysis of equipment, material and service costs across each project type within Venezuela
Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Venezuelan construction industry
Profiles of the leading operators in the Venezuelan construction industry
Data highlights of the largest construction projects in Venezuela 

Summary
The Venezuelan construction industry increased in value at a compound annual growth rate (CAGR) of 29.17% in nominal terms during the review period (2009-2013). This growth was supported by a large-scale housing program undertaken by the government, infrastructure projects in railways and energy, and continuation of social spending initiatives. The construction industry is expected to fare slightly better over the forecast period (2014-2018), as a result of an anticipated economic recovery, the government's focus on residential construction, and improved export demand. The industry is anticipated to post a forecast-period CAGR of 22.53%. However, with high inflation in the country, the industry's output growth rate in real terms is expected to be lower over the forecast period. 
Scope
This report provides a comprehensive analysis of the construction industry in Venezuela. It provides:
Historical (2009-2013) and forecast (2014-2018) valuations of the construction industry in Venezuela using construction output and value-add methods
Segmentation by sector (commercial, industrial, infrastructure, institutional and residential) and by project type
Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
Analysis of key construction industry issues, including regulation, cost management, funding and pricing
Detailed profiles of the leading construction companies in Venezuela 
Reason To Buy
 Identify and evaluate market opportunities using Timetric's standardized valuation and forecasting methodologies
Assess market growth potential at a micro-level with over 600 time-series data forecasts
Understand the latest industry and market trends
Formulate and validate business strategies using Timetric's critical and actionable insight
Assess business risks, including cost, regulatory and competitive pressures
Evaluate competitive risk and success factors 
Key Highlights
 According to the country's office of national statistics, Instituto Nacional de Estadistica (INE), the construction industry's contribution to the country's GDP declined from 8.0% in 2012 to 7.7% in 2013. Moreover, the construction industry's output at constant prices declined by 2.3%, from VEF4.9 billion (US$1.1 billion) in 2012 to VEF4.8 billion (US$783.5 million) in 2013, due to the deteriorating business environment, currency depreciation and high inflation. Forecast-period growth in the industry is expected to be supported by the government's Great Housing Mission, a social spending program introduced by the government in 2011.
In a bid to stimulate the country's housing market and maintain a balance between supply and demand for affordable housing, the government introduced a new housing law in March 2014. Under the new law, a homeowner who has three or more housing units, with a rented unit for more than 20 years, is obliged to sell their rental units to tenants at a fair price. The law is expected to reduce the monopoly in the housing market and provide a solution to low-income families' housing problems. The government believes that the new law will tackle a chronic housing shortage, which will support the growth of residential construction market over the forecast period.
In September 2014, a series of cooperation agreements were signed between the Venezuelan government and the Chinese government to develop the housing market. Accordingly, under the Chinese-Venezuela Fund, VEF16.5 billion (US$2.0 billion) will be invested in the Venezuelan housing market.
In March 2014, China and Russia agreed to finance Venezuela with VEF57.8 billion (US$7.0 billion) to develop domestic infrastructure and oil projects. Accordingly, China agreed to provide a VEF41.3 billion (US$5.0 billion) loan under the China-Venezuela Fund, which will be used to finance large infrastructure projects. A VEF16.5 billion (US$2.0 billion) memorandum of understanding (MoU) was signed between Russia's state-run OAO Rosneft and Venezuela to finance oil projects. This is expected to drive growth in the infrastructure construction market over the forecast period.
With the aim of increasing oil production to 6 million barrels per day by 2019, PDVSA signed an agreement with France's Perenco, an oil and gas company, in March 2014 to develop oil wells. The total investment for this project is anticipated to be VEF3.5 billion (US$420.0 million) and is expected to support growth in the energy infrastructure construction over the forecast period.

 1 Executive Summary
2 Market Overview
2.1 Key Trends and Issues
2.2 Benchmarking by Market Size and Growth
3 Commercial Construction
3.1 Performance Outlook
3.2 Key Trends and Issues
3.3 Data and Project Highlights
4 Industrial Construction
4.1 Performance Outlook
4.2 Key Trends and Issues
4.3 Data and Project Highlights
5 Infrastructure Construction
5.1 Performance Outlook
5.2 Key Trends and Issues
5.3 Data and Project Highlights
6 Institutiol Construction
6.1 Performance Outlook
6.2 Key Trends and Issues
6.3 Data and Project Highlights
7 Residential Construction
7.1 Performance Outlook
7.2 Key Trends and Issues
7.3 Data and Project Highlights
8 Company Profile: Constructora Norberto Odebrecht de Venezuela C.A.
8.1 Constructora Norberto Odebrecht de Venezuela C.A. - Company Overview
8.2 Constructora Norberto Odebrecht de Venezuela C.A. - Main Services
8.3 Constructora Norberto Odebrecht de Venezuela C.A. - Company Information
8.3.1 Constructora Norberto Odebrecht de Venezuela C.A. - key competitors
8.3.2 Constructora Norberto Odebrecht de Venezuela C.A. - key employee
9 Company Profile: Tecnoconsult, SA
9.1 Tecnoconsult, SA - Company Overview
9.2 Tecnoconsult, SA - Main Services
9.3 Tecnoconsult, SA - Company Information
9.3.1 Tecnoconsult, SA - key competitors
9.3.2 Tecnoconsult, SA - key employee
10 Company Profile: Vepica C.A.
10.1 Vepica C.A. - Company Overview
10.2 Vepica C.A. - Main Services
10.3 Vepica C.A. - History
10.4 Vepica C.A. - Company Information
10.4.1 Vepica C.A. - key competitors
10.4.2 Vepica C.A. - key employee
11 Company Profile: The Y&V Group
11.1 The Y&V Group - Company Overview
11.2 The Y&V Group - Main Services
11.3 The Y&V Group - Company Information
11.3.1 The Y&V Group - key competitors
11.3.2 The Y&V Group - key employee
12 Company Profile: Inelectra SAC.A.
12.1 Inelectra SAC.A. - Company Overview
12.2 Inelectra SAC.A. - Main Services
12.3 Inelectra SAC.A. - Company Information
12.3.1 Inelectra SAC.A. - key competitors
12.3.2 Inelectra SAC.A. - key employees
13 Market Data Alysis
13.1 Construction Output and Value Add
13.1.1 Construction output by project type
13.1.2 Construction output by cost type
13.1.3 Construction output by activity type
13.1.4 Construction value add by project type
13.2 Commercial Construction
13.2.1 Commercial construction output by project type
13.2.2 Commercial construction output by cost type
13.2.3 Commercial construction output by activity type
13.2.4 Commercial construction value add by project type
13.3 Industrial Construction
13.3.1 Industrial construction output by project type
13.3.2 Industrial construction output by cost type
13.3.3 Industrial construction output by activity type
13.3.4 Industrial construction value add by project type
13.4 Infrastructure Construction
13.4.1 Infrastructure construction output by project type
13.4.2 Infrastructure construction output by cost type
13.4.3 Infrastructure construction output by activity type
13.4.4 Infrastructure construction value add by project type
13.5 Institutiol Construction
13.5.1 Institutiol construction output by project type
13.5.2 Institutiol construction output by cost type
13.5.3 Institutiol construction output by activity type
13.5.4 Institutiol construction value add by project type
13.6 Residential Construction
13.6.1 Residential construction output by project type
13.6.2 Residential construction output by cost type
13.6.3 Residential construction output by activity type
13.6.4 Residential construction value add by project type
14 Appendix
14.1 What is this Report About?
14.2 Definitions
14.3 Summary Methodology
14.4 Methodology
14.5 Contact Timetric
14.6 About Timetric
14.7 Timetric's Services
14.8 Disclaimer


List of Tables
Table 1: Benchmarking with Other Major Construction Industries
Table 2: Commercial Construction Project 1 - AMBL - Hugo Chavez Sport Complex - Caracas
Table 3: Industrial Construction Project 1 - CSN - Siderurgica ciol Jose Igcio Abreu de Lima - Ciudad Piar
Table 4: Industrial Construction Project 2 - ENME - Motor Manufacturing Plant - Puerto Ordaz
Table 5: Infrastructure Construction Project 1 - IFE - Aco to Tico Railway Line - Venezuela
Table 6: Infrastructure Construction Project 2 - MTT - Caracas-La Guaira Highway Development - Vargas
Table 7: Infrastructure Construction Project 3 - Corpozulia - Puente Nigale Development - Zulia
Table 8: Residential Construction Project 1 - Glavmosstroy - Caracas Housing Development - Venezuela
Table 9: Residential Construction Project 2 - Assignia/MCH - El Triplex Mixed-use Development - Miranda
Table 10: Constructora Norberto Odebrecht de Venezuela C.A., Key Facts
Table 11: Constructora Norberto Odebrecht de Venezuela C.A., Main Services
Table 12: Constructora Norberto Odebrecht de Venezuela C.A., Key Employee
Table 13: Tecnoconsult, SA, Key Facts
Table 14: Tecnoconsult, SA, Main Services
Table 15: Tecnoconsult, SA, Key Employee
Table 16: Vepica C.A., Key Facts
Table 17: Vepica C.A., Main Services
Table 18: Vepica C.A., History
Table 19: Vepica C.A., Key Employee
Table 20: The Y&V Group, Key Facts
Table 21: The Y&V Group, Main Services
Table 22: The Y&V Group, Key Employee
Table 23: Inelectra SAC.A., Key Facts
Table 24: Inelectra SAC.A., Main Services
Table 25: Inelectra SAC.A., Key Employees
Table 26: Venezuelan Construction Output by Project Type (VEF Million), 2009-2013
Table 27: Venezuelan Construction Output by Project Type (VEF Million), 2013-2018
Table 28: Venezuelan Construction Output by Cost Type (VEF Million), 2009-2013
Table 29: Venezuelan Construction Output by Cost Type (VEF Million), 2013-2018
Table 30: Venezuelan Construction Output by Activity Type (VEF Million), 2009-2013
Table 31: Venezuelan Construction Output by Activity Type (VEF Million), 2013-2018
Table 32: Venezuelan Construction Value Add by Project Type (VEF Million), 2009-2013
Table 33: Venezuelan Construction Value Add by Project Type (VEF Million), 2013-2018
Table 34: Venezuelan Commercial Construction Output by Project Type (VEF Million), 2009-2013
Table 35: Venezuelan Commercial Construction Output by Project Type (VEF Million), 2013-2018
Table 36: Venezuelan Commercial Construction Output by Cost Type (VEF Million), 2009-2013
Table 37: Venezuelan Commercial Construction Output by Cost Type (VEF Million), 2013-2018
Table 38: Venezuelan Commercial Construction Output by Activity Type (VEF Million), 2009-2013
Table 39: Venezuelan Commercial Construction Output by Activity Type (VEF Million), 2013-2018
Table 40: Venezuelan Commercial Construction Value Add by Project Type (VEF Million), 2009-2013
Table 41: Venezuelan Commercial Construction Value Add by Project Type (VEF Million), 2013-2018
Table 42: Venezuelan Industrial Construction Output by Project Type (VEF Million), 2009-2013
Table 43: Venezuelan Industrial Construction Output by Project Type (VEF Million), 2013-2018
Table 44: Venezuelan Industrial Construction Output by Cost Type (VEF Million), 2009-2013
Table 45: Venezuelan Industrial Construction Output by Cost Type (VEF Million), 2013-2018
Table 46: Venezuelan Industrial Construction Output by Activity Type (VEF Million), 2009-2013
Table 47: Venezuelan Industrial Construction Output by Activity Type (VEF Million), 2013-2018
Table 48: Venezuelan Industrial Construction Value Add by Project Type (VEF Million), 2009-2013
Table 49: Venezuelan Industrial Construction Value Add by Project Type (VEF Million), 2013-2018
Table 50: Venezuelan Infrastructure Construction Output by Project Type (VEF Million), 2009-2013
Table 51: Venezuelan Infrastructure Construction Output by Project Type (VEF Million), 2013-2018
Table 52: Venezuelan Infrastructure Construction Output by Cost Type (VEF Million), 2009-2013
Table 53: Venezuelan Infrastructure Construction Output by Cost Type (VEF Million), 2013-2018
Table 54: Venezuelan Infrastructure Construction Output by Activity Type (VEF Million), 2009-2013
Table 55: Venezuelan Infrastructure Construction Output by Activity Type (VEF Million), 2013-2018
Table 56: Venezuelan Infrastructure Construction Value Add by Project Type (VEF Million), 2009-2013
Table 57: Venezuelan Infrastructure Construction Value Add by Project Type (VEF Million), 2013-2018
Table 58: Venezuelan Institutiol Construction Output by Project Type (VEF Million), 2009-2013
Table 59: Venezuelan Institutiol Construction Output by Project Type (VEF Million), 2013-2018
Table 60: Venezuelan Institutiol Construction Output by Cost Type (VEF Million), 2009-2013
Table 61: Venezuelan Institutiol Construction Output by Cost Type (VEF Million), 2013-2018
Table 62: Venezuelan Institutiol Construction Output by Activity Type (VEF Million), 2009-2013
Table 63: Venezuelan Institutiol Construction Output by Activity Type (VEF Million), 2013-2018
Table 64: Venezuelan Institutiol Construction Value Add by Project Type (VEF Million), 2009-2013
Table 65: Venezuelan Institutiol Construction Value Add by Project Type (VEF Million), 2013-2018
Table 66: Venezuelan Residential Construction Output by Project Type (VEF Million), 2009-2013
Table 67: Venezuelan Residential Construction Output by Project Type (VEF Million), 2013-2018
Table 68: Venezuelan Residential Construction Output by Cost Type (VEF Million), 2009-2013
Table 69: Venezuelan Residential Construction Output by Cost Type (VEF Million), 2013-2018
Table 70: Venezuelan Residential Construction Output by Activity Type (VEF Million), 2009-2013
Table 71: Venezuelan Residential Construction Output by Activity Type (VEF Million), 2013-2018
Table 72: Venezuelan Residential Construction Value Add by Project Type (VEF Million), 2009-2013
Table 73: Venezuelan Residential Construction Value Add by Project Type (VEF Million), 2013-2018
Table 74: Timetric Construction Market Definitions