The investment in the construction industry in Uruguay soared 26.45% last year over 2011 and reached seven billion dollars, of which 40% correspond to the Brazilian-Chilean pulp mill, Montes del Plata, the country’s largest investment in years equivalent to 2 billion dollars. However there are storm clouds ahead.
The Uruguayan construction industry faces tough years ahead because of the international crisis and its effects on neighbouring Argentina, forecasted economist Jorge Caumont who is also an advisor of several real estate agents.