Figures released by the National Institute of Statistics (INSTAT) on Friday indicate that authorities approved 1,158 permits for new buildings during the year, with a combined floor area of 1,304,606 square metres. The total estimated investment value for buildings and engineering works reached 73.9 billion leks.

In the fourth quarter alone, 259 permits were granted for new buildings, covering 340,477 square metres. The estimated value of new construction projects stood at 15.47 billion leks, while reconstruction works accounted for a further 735.4 million leks.

Approved engineering works in the October–December period were valued at 2.61 billion leks for new projects and 608.9 million leks for reconstructions, bringing the total value of projects cleared in the quarter to around 19.4 billion leks.

Residential buildings continued to drive activity, accounting for 890 of the annual permits and 844,791 square metres of approved floor space. In the fourth quarter, 200 residential permits were issued, with an investment value of 11.34 billion leks for new developments.

Within the residential segment, multi-unit residential complexes made up the largest share, both in terms of surface area and investment value.

Non-residential construction remained significant, with 268 permits approved during the year, covering 459,815 square metres. In the fourth quarter, 59 permits were issued for hotels, commercial and industrial buildings and other service facilities, with new construction investments totalling 4.13 billion leks.

/a.f/u.sh/