PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .
.
.

Construction slows in Western Visayas

Posted on October 14, 2011 06:49:47 PM [ BusinessWorld Online ]

ILOILO CITY -- Construction projects of the private sector in Western Visayas slowed down last year as indicated by a decrease in approved building permits.

Data from the National Statistical Coordination Board (NSCB) showed that only 3,703 building permits were approved and issued to private construction firms in 2010, a 10.77% decrease from 2009 figures.

"The decrease in the number of approved building permits is attributed to a 6.18% drop in residential projects and the 3.31% slump in nonresidential constructions," the agency said in a statement.

It reported, however, a 21.09% increase in the total floor area of new residential and nonresidential constructions. Nonresidential projects posted a double digit growth of 48.80% in terms of floor area and accounted for about half of the regional total floor area.

The combined value for residential and nonresidential private construction in the region also grew by 5.56% in 2010. The value of nonresidential projects went up by 11.17% to P3.59 billion, while residential construction grew by only 3.56%

The province of Negros Occidental had the most number of private constructions with a total of 1,995 projects, accounting for 52.80% of the regional total.

Others with a large gap were the provinces of Iloilo (896 or 24.20%), Capiz (349 or 9.42%), Aklan (278 or 7.51%) and Antique (211 or 5.69%). Guimaras had the least number of projects at 14, or less than 1% of the regional total. -- Francis Allan L. Angelo
__________________________________________________________

real estate central philippines
Copyright ©2008-2017