Canary Construction Industry In State Of Collapse

January 14, 2013

The construction industry in the Canary Islands has all but disappeared.

That is the stark conclusion from Federico Garcia-Barba, president of the Canary Architects Association, having just released figures showing the massive fall in the number of building permits since the heady days of 2007.

Garcia-Barba said Material Implementation Projects (PEM), has fallen from more than 148 million euros in 2007 to just 11.5 million in the Province of Santa Cruz alone, a drop of more than 92 per cent.