Infra work to bring in more growth-A A +A
Wednesday, May 28, 2014
“The industry is expected to post double-digit growth by next year,” Dy said in a speech delivered during the PhilconstructVisayas show at Waterfront Cebu City Hotels and Casino on Tuesday.
Construction spending in 2013 by the private sector was at P435.6 billion nationwide while that of the government reached P137.8 billion, Philippine Constructors Association Inc. (PCA) executive director Manolito Madrasto told Sun.Star Cebu.
Dy said that although projects in Metro Manila hold the biggest share of the pie, Cebu’s construction spending is second to Metro Manila.
“Cebu, as the Queen City of the South, is one of the most economically dynamic and fastest growing areas in the country to date….It is no wonder why Cebu is experiencing a construction boom with establishments of more buildings, condominiums, hotels, housing projects, and government infrastructure projects,” he said.
Dy said the expansion of the Mactan Cebu International Airport will boost the construction industry in Cebu.
He said he foresees the airport expansion project contractor, GMR-Megawide consortium, to hire subcontractors from Cebu.
GMR-Megawide earlier said it will spend about P20 billion on the airport project and other facilities.
In a related development, CCA—together with PCA, Philconstruct Events Exhibitions and Conference Corporation, and the Philippine Society of Ventilating, Air Conditioning and Refrigerating Engineers—organized the ongoing 5th PhilconstructVisayas to showcase innovations in the industry.
The event also gives industry players the opportunity to connect with professionals, traders, importers, exporters, and industry-related associations.
“This trade show is not just an access to new technologies but it also offers best opportunities for global brands to reach the local market and leverage the expertise of the industry through seminar,” Dy said.
Seminars will be held during the show. Topics include building emergency evacuation plan and structural integrity and preparedness; construction workers’ safety and health; fleet management; and construction budget cost control.
Published in the Sun.Star Cebu newspaper on May 29, 2014.