San Jorge Hospital to attend mental issues with new wing
December 2, 2013
Fresh from a recent $30 million investment in a new four-story building housing an expanded emergency room, San Jorge Children's Hospital is readying for yet another service expansion.
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Puerto Rican builders looking to LatAm for growth
November 1, 2013
Large scale exports of local building services to Latin America may soon be a reality for hundreds of Puerto Rican entrepreneurs, as countries such as Peru and Colombia are interested in developing infrastructure projects and public-private partnerships worth billions that could be served from the island.
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Puerto Rico home sales at risk due to new federal rules
October 23, 2013
Puerto Rico’s mortgage bankers and housing developers raised a red flag Tuesday to warn about the potentially devastating effects of a recently enacted federal regulation that sets new parameters that could make it difficult for would-be island home buyers to qualify for loans starting next year.
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Gov’t to open bids for $62.5M in construction projects
September 2, 2013
In the next two months, the Puerto Rico Infrastructure Financing Authority (PRIFA) will open bids for construction projects totaling $62.5 million, agency Executive Director Grace Santana told members of the Association of General Contractors.
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Villamil: Eliminating ‘B2B’ tax exemption ‘bad idea’
May 10, 2013
The Puerto Rican government’s proposal to eliminate the business-to-business sales tax exemption is not a good idea and does not guarantee the $800 million in new revenue Gov. García-Padilla’s administration has predicted, because oversight and collections related to these transactions is a difficult task to achieve, Economist José J. Villamil said Thursday.
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AGP urges construction sector to join job creation effort
January 31, 2013
Recognizing that the construction sector has been going through a prolonged rough patch, Gov. Alejandro García-Padilla told members of the Association of General Contractors, Puerto Rico chapter Wednesday that his administration’s plans call for their inclusion in a number of projects in the pipeline.
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Economists: Bleak prospects must spur construction sector creativity
January 22, 2013
The challenges that Puerto Rico’s construction sector is facing, driven primarily by fiscal constraints and volatility in certain markets, will remain a constant in the next two years, when the industry will have to be creative to move forward, a well-known economist said during a recent forum.
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CPAs to host 6th annual construction industry forum
January 14, 2013
The Puerto Rico Society of Certified Public Accountants will host the 6th annual Construction Industry Forum Jan. 18, kicking off with an analysis of economic trends and prospects for the industry by several local economists.
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Santander OKs $9.3M in financing for San Germán waterpark
December 13, 2012
Banco Santander Puerto Rico recently awarded $9.3 million in financing for the development of the San Germán Surf and Fun Waterpark planned for that municipality.
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Taubman breaks ground on $405M upscale Mall of San Juan
September 21, 2012
Taubman Centers Inc. and New Century Development broke ground Thursday on the 650,000-square-foot Mall of San Juan, the island's first luxury retail development that will feature the first Saks Fifth Avenue and Nordstrom in the Caribbean.
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$38M Hyatt Place Manatí breaks ground for ’14 opening
August 22, 2012
Construction of the $38 million Hyatt Place in Manatí got underway Tuesday, when developers and government officials gathered to offer details about the property that will cater mostly to the pharmaceutical and manufacturing plants in the area.
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Cement sales, key economic indicator, drop for 3rd straight month
August 14, 2012
Puerto Rico’s cement production and sales levels dropped for the third month in a row in June, when totals reached 1.51 million and 1.56 million, respectively, figures released by the Government Development Bank showed.
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Plaza Del Caribe embarks on $3.5M food court makeover
July 20, 2012
Plaza Del Caribe will soon begin the $3.5 million remodeling and expansion of its "Terraza Del Caribe" food court and the construction of the second Zara store in Puerto Rico.
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Lagging economy, slow population growth affecting P.R. housing market
May 17, 2012
Puerto Rico’s demographics have significantly influenced its housing market in recent years and it is expected to continue playing a crucial role in the future of the local housing market, according to the findings of the “Puerto Rico Housing Market Outlook 2011-2015” study revealed Wednesday by the Puerto Rico Bankers Association.
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Planning Board: Construction activity up 4.7% in fiscal ’11
March 9, 2012
Construction activity exceeded $3.8 billion in fiscal 2011, which represents a $173.5 million year-over-year increase when compared to the prior 12-month period, Planning Board President Rubén Flores-Marzán said Thursday.
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