CENTRAL Visayas accounted for more than a tenth of the country’s residential construction activity in May, with 1,078 approved residential building projects valued at P2.71 billion, according to data from the Philippine Statistics Authority (PSA).
The region contributed 10.6 percent of the country’s 10,154 residential construction projects, 12.4 percent of the total residential floor area, and nearly 11 percent of the nationwide construction value.
Data showed Bohol recorded the highest number of residential projects in the region with 640, followed by Cebu province with 389, Mandaue City with 29, Cebu City with 11, and Lapu-Lapu City with nine.
Despite having only 11 approved projects, Cebu City registered the region’s highest construction value at P1.24 billion, driven largely by two residential condominium developments worth P1.21 billion with a combined floor area of 60,204 square meters.
Cebu province ranked second in construction value at P852.76 million from 389 projects, including one residential condominium project valued at P261.81 million.
Bohol posted residential construction value of P465.51 million, while Mandaue City recorded P120.47 million and Lapu-Lapu City logged P28.09 million.
Single houses continued to dominate residential construction across the region, accounting for 936 of the 1,078 approved projects, while apartments and accessoria made up 135 projects.
Duplex or quadruplex units totaled three, and residential condominiums numbered three, all located in Cebu province and Cebu City. / KOC