THE Philippine Statistics Authority on Tuesday showed that the construction industry saw a 4.4 percent uptick in September this year, with 14,063 building permits approved. However, the overall value of these projects declined by 4.8 percent. Residential construction dominated the construction activity, comprising 66.
THE Philippine Statistics Authority on Tuesday showed that the construction industry saw a 4.4 percent uptick in September this year, with 14,063 building permits approved. However, the overall value of these projects declined by 4.8 percent.
Despite the surge in residential units, the total value of residential construction dipped three percent to P18.97 billion. The largest contributor, single-type houses, accounted for P11.68 billion. The addition, alteration, and repair, as well as other constructions—although categories that are a smaller portion of the overall activity—also experienced value declines. Notably, the value of other constructions plummeted by a significant 91.2 percent, contributing only P260 million.
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