The value of private and public construction projects grew 12 percent in 2013, according to the latest Construction Statistics from Approved Building Permits by the Philippine Statistics Authority (PSA).
PSA data showed that the total value of construction aggregated P293.1 billion, from only P261.8 billion in 2012.
The biggest chunk of the total construction projects during the period was nonresidential building construction, worth P135.2 billion, a 20.6-percent growth from P112.1 billion registered in 2012.
The value of residential construction also accounted for a significant share worth P133.8 billion. This represents a growth of 6.3 percent from previous year’s value of only P125.9 billion.
“[The] value of alterations and repairs of existing structures, estimated at P18.1 billion, increased by 12.4 percent from P16.1 billion recorded in 2012,” the PSA said.
Further, the value of addition to existing structures slumped 21.9 percent to P6.1 billion, from P7.8 billion registered in 2012.
Across the country, combined construction value of the top 5 regions amounting to P243.6 billion and accounted for 83.1 percent of the total.
Construction projects in Metro Manila, or the National Capital Region, amounted to P122.6 billion, or 41.8 percent of the total.
Calabarzon followed, with construction value of P59.8 billion, or a share of 20.4 percent; and Davao, P22.5 billion, or a 7.7-percent share.
Central Visayas and Central Luzon, with P20.3 billion, or 6.9 percent of the total; and P18.4 billion, or 6.3 percent, placed fourth and fifth, respectively.