Private construction projects up 11% in Q2

Private construction projects grew by 11.2 percent in the second quarter, according to the National Statistics Office.

The NSO said the number of projects in the second quarter, based on approved building permits, reached 30,614, up from 27,525 a year ago. NSO’s figures were based on approved building permits.

Of the total, 21,118 were new residential projects, up by 10.6 percent from year-ago level, while 3,937 were nonresidential projects, up by 15.5 percent from the same quarter last year.

Residential projects include single type, duplex, apartments and residential condominium, while nonresidential projects include commercial, industrial, agricultural and institutional buildings.

In the meantime, approved applications for additions, alterations and repairs of existing structures rose by 10.6 percent to 4,559 in the second quarter.

Among regions, Calabarzon had the highest number of construction projects with 6,683, or 21.8 percent of the total, followed by Central Luzon with 3,741, or 12.2 percent, of the total; and Metro Manila, with 3,523, or a share of 11.5 percent.

By province, Cavite recorded the highest number of construction projects with 2,799 followed by Cebu with 1,585 and Davao del Sur with 1,553.

The NSO said the aggregate value of construction projects in the second quarter hit P60.9 billion, up from the P55.7 billion posted a year ago.