Construction Market in the Philippines 2015-2019
About Construction Market in the Philippines
The Philippines is home to a population of 98.39 million, growing at the rate of 1.7% per annum. Such a growing population demands high-quality residential and infrastructure development. To cater to this need, the Government of the Philippines is investing profusely in the development of infrastructure in the country. The construction market in the Philippines is one of the well-established market in Southeast Asia and is popular as one of the favorite investment destination among global investors. The construction market in the Philippines is one of the few open markets in the world. The use of innovative and sustainable practices in construction coupled with the steady demand for public infrastructure and residential development are attributed to the growth of the market.
TechNavio's analysts forecast the construction market in the Philippines to grow at a CAGR of 14.86% over the period 2014-2019.
Covered in this Report
This report covers the present scenario and growth prospects of the construction market in the Philippines for the period 2015-2019. To calculate the market size, the report considers the GDP of the Philippines and the contribution of construction investment to the GDP in the country. A detailed segmentation of the construction market in the Philippines by sector is also provided. The report forecasts investment in the infrastructure, residential, and non-residential construction sectors in the Philippines during the period 2015-2019.
TechNavio's report, Construction Market in the Philippines 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Construction Market in Philippines 2015-2019
Technavio recognizes the following companies as the key players in the construction market in Philippines: Ayala Land Inc., EEI Corp., Megaworld Corp. and PNCC
Other Prominent Vendors in the market are: Robinsons Land, Century Properties Group and Rockwell Land.
Commenting on the report, an analyst from Technavio’s team said: “Increase in homeownership is a major trende being witnessed in the market. Since 2014, the percentage share of rental properties has been gradually decreasing, whereas that of homeownership has been increasing. Banks are providing customers with low interest rates for housing loans. The low interest rates are attracting the younger population, which constitutes about one-fifth of the country's population, to buy homes rather than rent them.”
According to the report, increase in PPP initiatives is one of the key drivers of this market. The government of the Philippines is focusing on the development of infrastructure to cater to the demands of the growing population. This requires major participation from the private sector to improve the quality of infrastructure.
Further, the report states that shortage of housing units is a major challenge that the market faces. As a result of the rapidly growing population of the country, the demand for housing units is continuously increasing.
Ayala Land Inc., EEI Corp., Megaworld Corp, PNCC, Robinsons Land, Century Properties Group, Rockwell Land.