The Tribune

Construction starts and completions both increased in volume during 2025, surging by 24 percent and 11.2 percent respectively, although the former’s combined value declined by $17m compared to 2024.

The Bahamas National Statistical Institute (BNSI), unveiling data on the construction industry’s 2025 performance, said: “The number of construction starts in 2025 climbed to 706 projects, up from 570 projects in 2024, with an increase of 136. However, the total value of starts fell by approximately $17m.

“The private/residential sector starts increased by 114 projects, though the value declined by about $18m. In the commercial/industrial sector, starts rose by 31 projects with the value increasing by around $5m.

“Conversely, the public sector, recorded a decrease of nine projects, with a decrease in value of about $3m. This indicates strong activity in project numbers, but mixed results in overall value when comparing 2024 to 2025.”

As for completions, the BNSI said in a statement: “The construction completions in 2025 totalled 817 projects, up from 735 projects in 2024 with an increase of 82 projects. The [statistics] demonstrated robust growth in permits and project starts, particularly in the private/residential and commercial/industrial sectors.

“While the overall value of starts declined, completions showed strong gains, driven by significant increases in the commercial/industrial sector. The public sector, however, continued to contract in both project numbers and value. The overall value of completions rose by approximately $67m, with the commercial/industrial sector completions increasing in number by 101 projects, and in value by $141m.”

The BNSI said the starts and completions data only covers New Providence and Grand Bahama construction activity, but it obtained permit data for all The Bahamas. This showed that a total 1,801 construction permits were issued in 2025, representing an increase of 210 or 13.2 percent compared to 2024’s 1,591.

The total value of these permits, the Institute said, jumped by almost $600m or 49.4 percent to $1.811bn in 2025 as opposed to $1.212bn the year before. “Overall, growth of 2025 over 2024 was driven primarily by the private/residential and commercial/industrial sectors,” the BNSI said.

“The private/residential sector permits rose by 164 projects compared to 2024, with the total value increasing by approximately $103m. The commercial/industrial sector also had an increase in permits of 61 projects, with a significant rise in value of $500m.”