Cebu ranks 2nd nationwide with most constructions

CEBU, Philippines — The construction boom in Cebu continues as it ranked second among provinces nationwide with most number of construction projects in the third quarter of 2017.

Based on latest data from the Philippine Statistics Authority, Cebu province recorded a total of 1,926 constructions based on approved building permits in the third quarter, accounting for 5.3 percent of all constructions nationwide.

Bohol and Negros Oriental have also showed a booming construction sector with a total of 1,071 and 999 constructions in the third quarter, ranking eighth and tenth, accounting for 3 percent and 2.8 percent of nationwide constructions, respectively.

In general, Central Visayas, where the said three provinces belong, ranked fourth among regions with most number of construction activities in the third quarter.

Region 7, which also includes Siquijor, recorded a total of 3,038 constructions during the period, accounting for 8.4 percent of the national pie which is led by CALABARZON with a 26.7 percent share.

Central Visayas also ranked fourth in terms of construction value at P6.6 billion, accounting for 9.1 percent of the nationwide total.

The Central Visayas economy grew by 8.8 percent last year.

The region's growth last year was propelled by the 14.6 percent growth in the industry sector and the biggest contributor to this growth was the construction subsector which grew by 40 percent in 2016.

The National Economic and Development Authority had said construction activities in Central Visayas will continue to remain upbeat in the next plan period as the private sector continued to invest in real estate development projects, coupled with high government spending on infrastructure. (FREEMAN)