Gross value added private sector construction Philippines 2016-2018

In 2018, the gross value generated from construction in the private sector in the Philippines amounted to approximately 706.7 billion Philippine pesos. The strong presence of property developers of the private sector in the Philippines pushed its year on year growth. Residential construction contributed largely to its growth. Among all the types of residential units constructed in 2018, condominium units were valued highest at 111.8 billion Philippine pesos.

Contractors

Along with the growth of the construction business comes the increase of new contractors’ licenses issued in the Philippines in 2018. The number of new licenses issued for contractors of general engineering was 439, while renewal was approximately 4.3 thousand in that year.

Small-sized or D-sized contractors in the Philippines accounted for about 36 percent of the total issued contracts as of February 2019, while the largest-sized or contractors that fell under AAAA made up 21 percent of the total.

Residential unit consumption

While development plans are in place within all parts of the Philippines, the National Capital Region attracts more of the demand from consumers. The supply of residential units was higher in urbanized areas within Metro Manila, such as the Fort Bonifacio, Makati CBD, and Manila Bay area in 2018. In terms of floor area, almost 23 million square meters of floor area, were approved for residential building construction in 2018.

Gross value added generated from private sector construction in the Philippines from 2016 to 2018

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Source

Release date

March 2019

Region

Philippines

Survey time period

2016 to 2018

Supplementary notes

Values are at constant 2000 prices.

One Philippine peso equals 0.02 U.S dollars and 0.018 euros as of February 2020.

Values have been rounded.

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Statistics on "Construction sector in the Philippines"

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