MikeLigalig.com

by pna

The value of construction projects in the second quarter of the year amounted to P60.9 billion, up 9.4 percent from P55.7 billion posted during the same quarter last year, according to the National Statistics Office.

The NSO said the value of construction for residential-type building went up by 18.2 percent to P27.5 billion from P23.3 billion during the same quarter of 2011.

Similarly, non-residential-type building value of construction climbed 2.6 percent to P28.7 billion from P27.9 billion registered during the same period of 2011.

Moreover, combined value of construction for additions, alterations and repairs of existing structures, estimated at P4.7 billion, rose 6.1 percent from P4.5 billion registered during the same period of 2011.

The total value of construction for residential buildings was P27.5 billion with a total floor area of 3.1 million square meters, translating to an average cost of P8,764 per square meter.

This figure represents an increase of 7.8 percent compared with the average cost of P8,126 per square meter of the previous quarter in 2011.

Total value of non-residential building construction reached P28.7 billion with a total floor area of 2.8 million square meters. This translates to an average cost of P10,351 per square meter.

Commercial-type building with 2,307 projects, accounted for more than half or 58.6 percent of the total non-residential constructions.

Value of construction for this type was estimated at P15.4 billion covering a total floor area of 1.6 million square meters yielding an average cost of P9,467 per square meter.

Institutional-type building reported a total of 648 projects or 16.5 percent with construction value of P5.5 billion and a total floor area of 412.8 thousand square meters or an average cost of P13,426 per square meter.

The total number of new construction projects from approved building permits nationwide reached 30,614 during the second quarter of 2012.

This number registered an increase of 11.2 percent compared to 27,525 construction projects during the same quarter in 2011.

Of the said figure, residential-type building recorded a total of 21,118 construction projects, up by 10.6 percent from previous year's total residential construction of 19,995.

Non-residential construction also grew by 15.5 percent to 3,937 from 3,409 during the same quarter of 2011.

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=55347.0