CONSTRUCTION of office buildings boosted the value of private-construction projects by 25 percent in 2014, according to the Philippine Statistics Authority (PSA).
PSA data showed that the value of private-construction projects increased to P366.6 billion in 2014, from P293.1 billion in 2013.
This was largely due to the value of nonresidential construction projects, which increased 36.8 percent to P184.9 billion last year, from P135.2 billion in 2013.
“[The] value of nonresidential construction accounted for more than half, or 50.4 percent of the total,” the PSA said.
The number of construction projects generated from approved building permits for the year 2014 totaled 126,875, 5.1 percent higher compared to the 120,775 construction projects in 2013.
The number of nonresidential construction projects increased 3.9 percent to 15,191 in 2014, from 14,622 recorded in 2013.
“The increase in number was brought about by the growth observed in the construction, led by agricultural [36.8 percent] and industrial [9.2 percent], institutional [9.1 percent] and commercial [7.2 percent] buildings,” the PSA said.
Another major contributor to the total value of private construction was the residential-construction segment. PSA data showed the value of constructed residential buildings increased 14.2 percent to P152.8 billion in 2014, from P133.8 billion
in 2013.
Residential construction projects also increased 2.8 percent to 90,201 in 2014, from 87,767 recorded in 2013.
The minimal increase in the number was caused by the decline in the construction of single-type houses (0.5 percent) and other residential buildings (19.7 percent), the PSA said.
However, construction of duplex/quadruplex-type houses showed a remarkable increase of 175.4 percent. Other types of residential construction projects that also showed increases were residential
condominium at 8.6 percent and apartment/accessoria-type buildings at 3.9 percent.
By region, Metro Manila or the National Capital Region (NCR), ranked third in the number of construction projects but remained with highest estimated value at P189.2 billion, for more than half (51.6 percent) of the total.
The NCR was followed by the adjacent regions of Calabarzon and Central Luzon. Calabarzon recorded P56.6 billion worth of construction projects, a growth of 15.5 percent, while Central Luzon logged P24.9 billion a 6.8-percent growth.
Western Visayas, which ranked sixth in 2013 occupied the fifth slot in 2014 displacing Davao Region. Construction value for this region amounted to P14.8 billion, or a 4-percent growth. Construction sta-
tistics are obtained from approved building permits. It relates to administrative-based data on new constructions and additions, alterations and repairs of existing residential and nonresidential buildings.
It includes data on other structures proposed to be constructed in all cities/municipalities of the country in a specific period.