In Q1 2020, construction activities in CV generated P8B
CEBU CITY, Philippines — Construction activities in Central Visayas generated a total value of P8 billion during the first three months of 2020, state statisticians reported.
The Philippine Statistics Authority (PSA), in their Construction Statistics from Approved Building Permits report for the first quarter of 2020 issued last July 23, placed Central Visayas as part of the top three regions with the most number of constructions made, and highest value posted.
In terms of actual construction, the region ranked second with a total of 4,722 and came next to Calabarzon (Region IV-A) which posted 5,600 construction activities.
The total construction value of Central Visayas within the same period reached P8,012,924,000 and was ranked third in the country’s regions with the highest number of construction value. The National Capital Region (NCR) topped the list with P30.4 billion and was followed by Calabarzon with P11.6 billion.
PSA said Central Visayas contributed 15.3 percent and 9.3 percent in construction activities and value, respectively, to the country’s overall construction statistics.
“Construction statistics are generated from approved building permits as well as from the demolition and fencing permits collected every month by PSA field personnel from the Offices of Local Building Officials (LBOs),” PSA noted.
Residential projects comprised around 65 percent of Central Visayas’ total construction activities during the first quarter of this year, with a total value of approximately P3.2 billion.
However, non-residential ones which include infrastructures for commercial, industrial, institutional, and agricultural purposes, generated much of the region’s construction value.
PSA’s data showed that the region had 797 construction projects for non-residential structures whose value is worth a total of P4,559,361,000.
Most of Central Visayas’ construction activities still came from Cebu, considered as the commercial and economic hub in the region. It was followed by Bohol with a total of 1,437, and Negros Oriental with 1,335.
READ MORE: Cebu brought P8.2B from approved construction projects-PSA
Meanwhile, PSA posted a 22.4 percent drop in the number of construction activities nationwide for the first quarter of 2020.
“The number of constructions in the first quarter of 2020 reached a total of 30,838, indicating an annual decline of 22.4 percent. In the previous quarter, the number of constructions decreased at an annual rate of 7.7 percent and in the first quarter of 2019, it increased at 10.4 percent,” state statisticians said.
A decrease in construction projects also led the total value to shrink by 20. 1 percent, PSA added.
“In the first quarter of 2020, the total value of constructions amounted to PhP 86.1 billion which shrank by 20.1 percent. Compared to previous quarter it declined at an annual rate of 8.8 percent, while it increased at an annual rate of 5.8 percent in the first quarter of 2019,” they said.
“Total value of construction refers to the sum of the cost of building, electrical, mechanical, plumbing, and others. The value is derived from the approved building permit and represents the estimated value of the building or structure when completed,” added PSA. /dbs
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