Construction projects in PHL up 25.1% in Q3 of 2010
THE National Statistics Office said the total value of construction projects in the third quarter of last year grew by 25.1 percent to P46.3 billion from P37 billion recorded during the same quarter of 2009.
The agency said the value of new residential building constructions posted an increase of 33.3 percent amounting to P24.6 billion from P18.4 billion during the same quarter of 2009.
Similarly, value of new non-residential building constructions climbed 14.5 percent amounting to P18.1 billion from P15.8 billion registered during the same quarter of 2009.
Moreover, combined value for additions, alterations and repairs, estimated at P3.6 billion, jumped by 30.6 percent from P2.8 billion registered during the same period of 2009.
The NSO said the total value of residential building construction reached P24.6 billion with a total floor area of 2.8 million square meters, translating to an average cost of P8,811 per square meter.
Single type residential units recorded the most number of residential building constructions with 16,038 or 91 percent of the total.
Total value of construction for this type amounted to P12.1 billion covering a total floor area of 1.6 million square meters translating to an average cost of P7,438 per square meter.
NSO said apartment/accessoria followed next with 1,236 constructions or seven percent of total residential construction.
This type of residential construction had an estimated construction value of P2.7 billion with total floor area of 390.2 thousand square meters or an average cost of P6,812 per square meter.
The total number of building construction projects all over the country was recorded at 23,970 during the third quarter of 2010, representing 9.2 percent drop from the 26,397 construction projects recorded during the same period of 2009.
Residential type building with 17,618 new constructions went down by 9.9 percent from 19,543 during the same quarter of 2009 while non-residential constructions went up slightly by 1.1 percent to 3,138 from 3,103 during the same period of last year.
Furthermore, additions, alterations and repairs aggregating to 3,214 dropped by 14.3 percent from 3,751 constructions recorded during the same quarter of 2009.
Among the regions, CALABARZON (Region IVA) recorded the highest number of new building construction projects with 5,971 or 24.9 percent of the total.
The National Capital Region (NCR) ranked second with 3,614 construction projects or 15.1 percent of the total, followed by Central Luzon (Region III) with 2,406 constructions (10 percent). Central Visayas (Region VII) and Davao (Region XI), ranked fourth and fifth with 2,106 (8.8 percent) and 1,999 (8.3 percent) construction projects, respectively.
At the provincial level, Cavite reported the biggest share to total construction with 2,180 construction projects or 9.1 percent of the total construction during the third quarter of 2010. PNA