MANILA, Philippines – The number of approved building permits declined 3.9 percent in the second quarter compared to the same period a year ago as developers took fewer projects.
The National Statistics Office (NSO) said preliminary results of its construction statistics showed that the total number of construction projects from approved building permits was registered at 29,424.
The number is lower than the 30,614 projects reported in the same period last year.
While there were fewer approved building permits in the second quarter this year, the total value of construction projects for the period increased compared to the previous year.
The aggregate value of construction projects during the quarter reached P66.4 billion, up 9 percent from the P60.9 billion in the comparable period a year ago.
The bulk or 72.6 percent of the total new construction projects for the period were residential buildings which reached 21,360.
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These residential projects were valued at P32.6 billion.
Approved building permits for non-residential projects which accounted for 11.9 percent of the total, reached 3,504. The non-residential projects amounted to P28.5 billion.
The total number of building permits for additions, alterations and repairs of existing structures meanwhile, reached 4,560 in the second quarter, with their combined value placed at P5.3 billion.
“Among regions in the country, CALABARZON (Region IVA) posted the highest number of construction projects with 6,826 accounting for 23.2 percent of the total,” the NSO said.
The National Capital Region came in second while Central Visayas (Region VII) placed third, with their respective shares of 13.2 percent (3,873) and 12.8 percent (3,775) of the total construction projects from approved building permits.
The least number of construction projects was recorded for Autonomous Region in Muslim Mindanao which had 41 approved building permits or 0.1 percent of the total.