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Wednesday, June 04, 2003
Despite crisis, residential projects help construction industry stay in business
By Jessica B. Natad
RESIDENTIAL projects have kept the local construction industry alive amid the economic crisis, according to industry leaders.
Hardwares Consolidated Inc. (HCI) immediate past president Charles Kenneth Co said the backlog in the residential needs of the country has allowed the construction industry to remain in the business despite the lack of big projects, especially those sponsored by the government.
The overseas Filipino workers have contributed much to our survival because most of them usually build their houses upon working abroad,” he said.
For his part, Chamber of Real Estate and Builders Association president Rene Avila said the real-estate market is beginning to recover, as investors are now pushing through with their projects withheld during the economic crisis in 1997.
HCI’s Co said the stability of the residential real-estate market is one of the reasons why most of the 100 exhibitors in this year’s 11th Construction Show Cebu will be showcasing construction products for the home.
The four-day annual Construction Show, which will kick-off on Friday at the Cebu Trade Hall of the SM City Cebu, is organized by L.A Ducut and Co. Inc. in cooperation with HCI and the Cebu Contractors Association.
Exhibitors include Charter Chemical and Coating Corp., Han-A Tools Co., IPD, Electrical and Industrial Supply Inc., Mega Systems Enterprises, and System and Security Monitoring Inc.
(June 4, 2003 issue)
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