Free Submission Public Relations & NewsPR-inside.com
Home
Deutsch English

Finance
Construction in the Philippines - Key Trends and Opportunities to 2017

Philippines construction market: 10% CAGR growth witnessed between 2008-12


Print article Print article
© companiesandmarkets.com

companiesandmarkets.com
companiesandmarkets.com
2014-04-17 10:07:02 - Construction in the Philippines - Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com

The Philippines construction market grew at a review-period (2008−2012) CAGR of 10.27% and was largely unaffected by the financial crisis. Construction output recorded respective annual growth rates of 6.4% in 2009 and 20.9% in 2010, though the country´s construction output declined marginally by 2.2% in 2011.

Review-period growth was supported by the growing business process outsourcing (BPO) industry, infrastructure development projects and a rise in income levels. The construction industry is expected to post a forecast-period (2013−2017) CAGR of 7.66% with growth originating largely from the government´s development plan for 2011–2016 to improve infrastructure, healthcare and competitiveness.

The construction industry recorded a period of robust growth backed by a rise in employment and income levels. The number of new building construction

 

 

projects with approved permits increased from 24,610 in the fourth quarter of 2011 to 27,931 in the fourth quarter of 2012, a year-on-year increase of 13.5%.

In order to increase the nation´s investment attractiveness, enhance competitiveness and promote socio-economic development, the government unveiled the Philippine Development Plan (PDP) 2011–2016. The plan involves substantial investments in physical infrastructure, which it deems as roads, railways and energy; social infrastructure which it defines as education, healthcare and housing; and technology which it outlines as research and development.

The BPO industry is a key driver of office space development and the industry´s robust outlook is expected to benefit the expansion of office buildings. There has been a rise in purchasing power among the domestic population, owing to solid growth in the BPO industry and rise in remittances from overseas Filipinos. This, coupled with favorable economic conditions and a rising urban population, is expected to support a surge in retail activity.

The industrial construction market was the fastest-growing construction market in the Philippines during the review period, driven by a rebound in the nation´s manufacturing activity since 2010. The performance of the manufacturing sector is expected to improve over 2013–2014 with a surge in exports backed by an anticipated recovery in global economic conditions. Growth will also be supported by governmental efforts to ease procedures for establishing new businesses and reduce operational costs by initiating expansion measures.

Click for report details: www.companiesandmarkets.com/Market/Construction/Market-Research/ ..

Browse all Construction Market Research Reports www.companiesandmarkets.com/Market/Construction/Market-Research? ..

Browse all Construction Company Profile Reports www.companiesandmarkets.com/Market/Construction/Company-Profile? ..

Browse all Latest Market Research Reports www.companiesandmarkets.com/Market/All/Market-Research?aCode=f3f ..

About Us
Companiesandmarkets.com is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.com’s online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.


Author:
Mike King
e-mail
Web: www.companiesandmarkets.com
Phone: London: +44 (0) 203 086 8600

Disclaimer: If you have any questions regarding information in these press releases please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims contents contained in this release.
Latest News
Read the Latest News
www.newsenvoy.com

 


Terms & Conditions | Privacy | About us | Contact PR-inside.com