Construction activity grows 3.6% in Q4

MANILA, Philippines — Construction activity quickened by 3.6 percent in the fourth quarter of 2017, driven by the strong growth of non-residential projects during the period, the Philippine Statistics Authority (PSA) reported.

Based on approved building permits, the total number of constructions in the last quarter of 2017 reached 33, 445, up from 32, 282 recorded during the same quarter in 2016.

Non-residential constructions registered a 23.2 percent increase to 4,903 projects from 3,981 recorded during the same period of the previous year. Growth was attributed to the construction of more agricultural buildings, commercial buildings, industrial buildings and institutional buildings.

This offset the 4.3 percent decline in the construction of residential buildings to 23,693 from 24,752 reported in 2016. These cover declines in new condominiums, apartments, single-type houses and duplexes.

Additions to existing structures also increased by 30.1 percent to 1,149 projects from 888 in 2016. Likewise, combined number of alterations and repairs of existing structures increased by 38.8 percent to 3,700 from 2,666 the previous year.