More condos rise in 2018

MORE new high–rise condominiums were erected in Baguio City and Benguet.

Philippine Statistics Authority in Cordillera records additional 62 units of multiple occupancy residential buildings issued with building permits in 2018.

In a special report forwarded to Sun.Star Baguio, the data arm agency said the new condominiums had an accumulated value of P1.9 billion or 2.5 times the cost of approved constructions of high rise buildings in 2017 at P723.9 million.

PSA added all new multiple occupancy units in 2018 were built in Baguio City and Benguet area with exception to a few duplex and apartment located in Kalinga and Ifugao.

The cost of residential condominiums shared 87.8 percent of the total construction costs of multiple occupancy residential units amounting to P1.7 billion.

The number of soon to rise buildings also jumped thrice more than the figure in 2016.

Cordillera Administrative Region recorded 1,388 new private constructions in 2018 with an increase of 6.5 percent from 2017 with 1,303 constructions.

These constructions had a total area of 591,858 square meters worth P7 billion.

Across Cordillera region, the construction of new non-residential units was recorded at 256 buildings covering 266,788 square meters.

This covers industrial, institutional and agricultural buildings and other non-residential types.

PSA –Cordillera said about one in three non-residential units were located in Baguio City and Benguet with a total cost of P1.7 billion while the other provinces in the region shared to the total non-residential units’ constructions such as Kalinga with 24.3 percent, Ifugao at 10.5 percent, and Abra at six percent.

Meanwhile, stores made up of 55.5 percent of the total non-residential units for construction in the region.

This had an accumulated floor area of 22,900 square meters for 81 units that cost P221.3 million.

The new stores for constructions were mostly registered in Apayao with 37 units, some located at the different provinces in the region except in Mt. Province while 26 new commercial units of buildings for accommodations were in Baguio City and Benguet amounting to P853.2 million.

Another 33 constructions of new commercial buildings that cost P253 million were reported in all provinces but the most recorded in Benguet.

For schools, all provinces had new school buildings in 2018 with 59 units with a total cost of P608.8 million.


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