And the building goes on

While the construction industry in Australia is in hibernation, the industry is booming in the Philippines. However, the total value had declined. Still, the growth continues.

From BusinessWorld Philippines

July 01, 2012

Commercial, industrial projects fuel rise of private construction in 1st quarter — NSO

PRIVATE CONSTRUCTION projects rose slightly in the first quarter, buoyed particularly by the commercial and industrial segment, the National Statistics Office (NSO) said on Friday last week.

Based on approved building permits, private construction projects totaled 29,585 in the first three months, compared to the 28,347 recorded in the same period last year. NSO data showed residential construction edged up 3.1% to 21,424 from 20,784, while non-residential projects surged 16.9% to 4,085 from 3,495. Combined approved building permits for additions, alterations and repairs of existing structures inched up a nearly flat 0.2% to 4,076 from 4,068.

Among the country’s 17 regions, the biggest number of projects in the first quarter was recorded in the Cavite-Laguna-Batangas-Rizal-Quezon area (Region IV-A) at 6,362, accounting for 21.5% of the total. Others in the top five were: Central Visayas (Region VII) with 3,830 (12.9%); Central Luzon (Region III) with 3,814 (12.9%); National Capital Region (NCR), 3,179, (10.7%); and Davao Region (Region XI), 2,186, (7.4%).

Provinces that has more than a thousand projects were: Cavite with 2,015, accounting for 6.8% of the total; Cebu with 2,007 (6.8%); Bulacan, 1,768, (6.0%); Laguna, 1,533 (5.2%); Rizal, 1,262 (4.3%); Davao del Sur, 1,237 (4.2%) and Batangas, 1,151, (3.9%).

Total value of construction projects, however, fell 6.8% to P49.2 billion from P52.8 billion in the same periods. Value of residential construction dropped 17.5% to P23.3 billion from P28.2 billion while that of non-residential construction rose 2.3% to P19.8 billion from P19.4 billion.

Article location : http://www.bworldonline.com/content.php?section=Economy&title=Commercial, industrial projects fuel rise of private construction in 1st quarter NSO&id=54416

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