• Value of construction projects rises in Q1

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    The value of construction from approved building permits for the first quarter of 2013 rose to P58.6 billion, data from the National Statistics Office (NSO) showed.

    The first-quarter figure was higher compared to the P49.2 billion recorded during the same quarter of 2012.

    The data also said that by type of construction projects, value of residential amounted to P28.5 billion, while nonresidential construction buildings was valued at P25.3 billion. Combined value of constructions for additions, alterations and repairs of existing structures was estimated at P4.8 billion.

    Among the regions, the NSO data added that the value of construction for Metro Manila emerged as the highest at P22.3 billion, accounting for 38-percent share of the total.

    Davao (Region 11) and Calabarzon (Region 4-A) ranked second and third with shares of P11.4 billion, or 19.5 percent and P8.3 billion, or 14.1 percent, respectively.

    Meanwhile, the data also showed that approved building permits in the first quarter of 2013 totaled to 24,400.

    Of the total new construction projects, 17,502, or 71.7 percent were residential-type building; 3,034, or 12.4 percent were nonresidential constructions; and the remaining 3,864, or 15.8 percent were additions, alterations, and repair of existing structures.

    The NSO data noted that the highest number of construction projects were located in Calabarzon with 6,425 accounting for 26.3 percent of the total.

    This was followed by Metro Manila with 3,320, (13.6 percent) and Central Luzon (Region 3) with 2,482, (10.2 percent).

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