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Miami metro area construction contracts rose 67 percent in 2012: report

January 30, 2013 12:00PM

Contracts for future construction in the Miami-Fort Lauderdale-Miami Beach metropolitan area rose by 67 percent through December 2012 compared to 2011, according to data from McGraw-Hill Construction. That increase was led by residential construction, which saw an 87 percent improvement to $3.22 billion, up from $1.72 billion in December 2011. Nonresidential construction, which includes commercial, hospitality and other sectors, saw a 47 percent improvement to $2.46 billion in total contracts for future construction for the year to date through December. The metro area covers Miami-Dade, Broward and Palm Beach counties. —Alexander Britell