NSO: PHL's Q4 2010 construction activities grew slower

Construction activities in the Philippines grew at a slower pace in the fourth quarter of 2010, the government said on Thursday. Citing data from approved building permits, construction projects in the period dropped 24.6 percent to 22,879. The bulk of the approved building permits were for the construction of residential buildings, accounting for 16, 697, while the rest were non-residential construction. Calabarzon (Region 4A) consistently remained highest in terms of the number of construction projects with 4, 804 or 21 percent of the total, followed by the National Capital Region, Central Visayas , Central Luzon and Davao, respectively. "At the provincial level, Cavite reported the most number of construction projects at 1,718 accounting for 7.5 percent of the total. Cebu followed closely with 1,627 construction projects (7.1 percent)," the NSO added. Although the value of construction projects in the country grew by 16.1-percent, the average cost of construction in the country decreased by 1 percent to P8,735. Putting up a single type residential unit, which accounted for 89.6 percent of the total residential construction, entailed an average cost of P7,451 per square meter, while apartments and accessories meant an average cost of P6,567 per square meter. On the other hand, non-residential constructions translated to an average of P8,575 per square meter. Commercial buildings had an average cost of P9,196 per square meter; institutional buildings, P11,603 per square meter; and agricultural type, P2,077 per square meter. — CMA/VS, GMA News