Philippines in the first quarter decline in the number of construction projects
According to the Philippines, "Daily" reported: According to the National Statistics Office's report, the first quarter of this year, the number of construction projects nationwide last year fell by 5.5%.
National Statistics Office said that from January to March this year, the total number of approved projects is 28 347 permits, compared to 29 992. The total number of residential construction projects fell by 11.9%, to 20,784; but non-residential construction projects from the same period last year 2978 increased 17.4% to 3495. Approval of new construction, renovation and maintenance construction projects increased by 18.7%, to 4068.
National Statistics Office said: While this year's first quarter decline in the number of construction projects, construction projects, the total value up 11.6%, from 473 billion pesos last year, up to 528 billion pesos. The value of residential construction projects increased by 32.6% to 28.2 billion pesos, the value of non-residential construction projects fell 13.2 percent to 19.4 billion pesos. Approval of new construction, renovation and maintenance construction projects worth 5.2 billion pesos, 3.7 billion more than last year's increase of 39.7%.