Construction: Expected Stabilization

With regard to loans granted by banks at the end of September last year in this area, an increase of 13.3% was noted. This increase is due to an increase in the development of commercial and residential property, or 13.8% and 27.6% respectively. As for the credit sector construction, they have gone from Rs 39.5 billion in September 2009 to Rs 73.4 billion at the end of September 2013. Despite the resilience of the local economy to exogenous shocks, the construction sector has not experienced a positive growth in 2013.

According Bhooshan Ramloll, Vice President of Building and Civil Engineering Contractors Association (BACECA), the government must put in place measures to ensure that the projects it has announced can be achieved in time. '' The euro crisis has certainly created a slowdown in several projects, but is expected to restart with the government's actions,'' he said to Le Matinal.

According to him, many contractors are waiting for projects Public Private Partnership (PPP). '' Right now, contractors expect all PPP projects for the sector to resume its flight. We'll get out of the crisis quickly,'' he has said. The project Jinfei Riche-Terre, building Neotown Les Salines, Port Louis, projects related to the Integrated Resort Scheme (IRS) and the Real Estate Scheme (RES) are among the major projects that are expected by the manufacturers. Other projects have been abandoned by the developers because of the financial crisis of the euro.