Approved construction permits down in February

MANILA, Philippines — Construction activities in the Philippines are slowing down as the number of building permits approved nationwide dipped by 2.5 percent in February.

Preliminary data from the Philippine Statistics Authority showed that the number of construction projects from approved building permits declined to 14,440 in February from 14,809 in the same month in 2024.

The total value of construction projects also fell by 16.9 percent to P41.6 billion in February from P50.05 billion in the same month last year.

Of the total, residential buildings accounted for the biggest share at 63.9 percent.

There were 9,223 residential projects in February, up by 1.2 percent from 9,115 projects in the same month a year ago.

While the number of residential building projects increased, the value fell by 24.9 percent to P17.38 billion from P23.13 billion.

Likewise, non-residential construction projects declined by 4.7 percent to 3,290 from 3,454 projects. In terms of value, non-residential projects dipped slightly to P21.29 billion from P21.39 billion.

Additions or projects involving increases in the height or area of an existing building slipped by four percent to 532 projects from 554 projects.

The value of addition projects dropped by 44 percent year-on-year to P561.32 million in February.

Alterations and repair of existing structures declined by 14.2 percent year-on-year to 1,058 projects in February.

These projects amounted to P2.04 billion in February, down by 49.8 percent from P4.07 billion in the same month last year.

The number of other construction projects also fell by 25.6 percent to 337 in February from 453 in the same month in 2024.

Other construction projects in February amounted to P320.13 million, 29.2 percent lower than the P451.92 million in the same month a year ago.