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The data is collected and summarized on a monthly basis by the Ministry of Works (New Providence & Grand Bahama), the Department of Local Government, the Family Island Administrators, and the Grand Bahama Port Authority Ltd. The information is forwarded to the BNSI, where it is processed, data entered, analyzed and published.

The data highlighted are based on the comparison of 3rd Quarter 2021 versus 3rd Quarter 2022.The All Bahamas number of New Construction Permits Issued in the third quarter 2022 (424) was higher than in third quarter 2021 (380) by 44 projects or 12%. Conversely, the value of Permits Issued over this period decreased from $167 million in 2021 to $135 million in 2022. The main reason for this decrease was a drop of 59% in the Commercial/Industrial Sector of $47 million, which was mitigated by increases in the Private/Residential Sector of $11 million and the Public Sector of $4 million. The third quarter 2022 Permits value was shared across the islands with New Providence representing
76%, Grand Bahama 20% and the remaining Family Islands 4%.
144,377

The number of New Construction Starts All Bahamas decreased by 17 when comparing third quarter 2021 (150) and third quarter 2022 (133). During this same period however, the value of Construction Starts All Bahamas increased by $35 million or 74%. This increase in value was led by the Private/Residential Sector and the Public Sector, with increases of $36 million and $5 thousand respectively. Contrarily, the Commercial/Industrial Sector decreased by $645 thousand or 4%. New Providence represented 76% and Grand Bahama 24% of the recorded number of new Construction Starts in the third quarter 2022.

The All Bahamas number of Construction Completions in the third quarter 2022 (165) showed a decrease of 6 projects when compared with the same period in 2021 (171). The value of Construction Completions however, increased by approximately $106 million or 176%. There was an increase in the Commercial/Industrial Sector of approximately $114 million leading this overall increase in value. New Providence Commercial/Industrial Sector Construction Completions value increased from $11 million to $126 million over this same period.

The third Quarter 2022 Building Construction Statistics Report, which includes additional tables, is available on the BNSI/Department of Statistics website.