{"id":260386,"date":"2025-12-04T14:06:54","date_gmt":"2025-12-04T18:06:54","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=260386"},"modified":"2025-12-04T14:06:56","modified_gmt":"2025-12-04T18:06:56","slug":"construction-sector-triples-to-900m-pm-says-marking-a-decade-of-unprecedented-expansion","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/construction-sector-triples-to-900m-pm-says-marking-a-decade-of-unprecedented-expansion\/","title":{"rendered":"Construction Sector Triples to $900M, PM Says, Marking a Decade of Unprecedented Expansion"},"content":{"rendered":"
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Antigua and Barbuda\u2019s construction industry has tripled in size over the past decade, reaching nearly $900 million in 2024 and solidifying its role as one of the country\u2019s most powerful engines of economic growth, Prime Minister Gaston Browne said Thursday during the presentation of the 2026 national budget.<\/p>

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Browne told Parliament the sector\u2019s expansion \u2014 up from $273 million in 2013 \u2014 reflects sustained private investment, a surge in public infrastructure projects and steady housing demand nationwide. He said the construction boom has reshaped the economic landscape, creating jobs, increasing domestic consumption and driving activity across manufacturing, retail and transportation.<\/p>\n\n\n\n

\u201cThis is not a small shift. Tripling the construction sector in just over 10 years signals confidence in our economy and the success of our development strategy,\u201d Browne said, describing the industry as a pillar of national progress.<\/p>

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Government data shows construction accounted for a major share of GDP growth in 2024 and continues to record strong momentum heading into 2026. Major government-led works \u2014 including housing developments, road rehabilitation, water system upgrades and climate-resilient infrastructure \u2014 have contributed significantly to the sector\u2019s expansion, alongside private-sector hotel projects, commercial buildings and residential construction.<\/p>

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Browne said the growth has been further fuelled by rising investor confidence, stronger financial stability and what he described as a \u201cpro-development policy climate\u201d that encourages both local and foreign investment. He noted that the administration\u2019s push for affordable housing and its partnership with developers has also stimulated activity across the real estate market.<\/p>\n\n\n\n

The Prime Minister argued that the sector\u2019s trajectory reflects the broader economic recovery and fiscal consolidation highlighted in the budget. The government posted a primary surplus of $254.9 million and an overall surplus of $116.3 million, while real GDP is projected to grow by 5 percent in 2026 and approach $7 billion.<\/p>

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\u201cWith a construction sector approaching the $1 billion mark, we are seeing the transformation of our physical infrastructure and the strengthening of our economic foundation,\u201d Browne said.<\/p>\n\n\n\n

The budget debate will continue next week, with ministers expected to outline additional projects slated for 2026.<\/p>

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Antigua and Barbuda\u2019s construction industry has tripled in size over the past decade, reaching nearly $900 million in 2024 and solidifying its role as one of the country\u2019s most powerful engines of economic growth, Prime Minister Gaston Browne said Thursday during the presentation of the 2026 national budget. 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