Central Visayas logs high construction activities in 2023

Central Visayas logs high construction activities in 2023
SunStar Business

CENTRAL Visayas ranked among the top three regions that had the highest number of constructions in 2023, according to the latest report by the Philippine Statistics Authority.

The region recorded 8,631 constructions, after Calabarzon, which led to 40,332 constructions. Central Luzon came third with 18,583 constructions.

In 2023, the total number of constructions from approved building permits reached 163,663, down by 3.4 percent from the previous year’s total of 169,432.

Of the total, residential buildings logged the highest number with 110,532 constructions, down by 8.7 percent from the previous year’s level of 121,106 constructions. The majority of the total residential constructions were single-type houses with 95,061 constructions.

Moreover, the PSA said the total value of constructions last year amounted to P457.36 billion, up six percent from the P431.37 billion value of constructions posted in 2022.

Non-residential building constructions were valued at P219.56 billion, accounting for 48 percent of the total value of constructions while the construction value of residential buildings amounted to P200.85 billion.

The top three regions that collectively contributed more than half to the total value of constructions were Calabarzon with P105.54 billion, National Capital Region (P74.93 billion) and Central Luzon (P59.37 billion). / KOC

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