The value of private sector construction projects reached almost P100 billion in the second quarter of 2022, according to the Philippine Statistics Authority (PSA). Know more:
THE value of private sector construction projects reached almost P100 billion in the second quarter of 2022, according to the Philippine Statistics Authority .
The bulk of these construction projects are accounted for by residential building constructions, valued at P49.27 billion, representing almost half or 49.5 percent of the total value of constructions during the quarter. The value of non-residential constructions, amounting to P44.06 billion, contributed 44.2 percent to the total value of constructions during the quarter.
In the second quarter of 2022, the value of constructions of addition, and alteration and repair to existing structures, amounted to P0.93 billion or 0.9 percent of the total and P5.34 billion or 5.4 percent, respectively. This type of construction contracted 5.7 percent compared with the 30,139 constructions in the same quarter of the previous year. Majority of the total residential constructions were single-type houses with 24,727 or 87 percent of the total.
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