Paralysis of works and the delay of projects for more than $7 billion in the real estate market

The real estate industry absorbs much labour throughout the country: more than 500,000 people in the formal sector and 1.5 million if we include the undeclared and independent contractors. Only between works of the companies associated to the Chamber of Urban Developers (CEDU), could employ some 22,000 workers; while the projects in the portfolio add up to a potential investment of $7 billion in the next two years. The effects of the paralysis of the activity and the exhaustion of the capacity to sustain fixed costs of taxes and salaries could produce the loss of more than 20,000 jobs.

Source: Infobae