Housing, tourism seen to boost construction industry in 2009

The local construction industry is banking on housing and commercial projects for growth this year as companies continue to expand nationwide, a Philippine Constructors Association Inc. (PCA) official said.

In a briefing on Thursday, Manolito Madrasto, PCA executive director, said the industry targets a “conservative” growth of between 6 percent and 8 percent by yearend. Last year, the industry grew 9 percent while expansion was at 18 percent in 2007.

“The industry is fairly doing well despite the global crisis,” Madrasto said.

“As far as the private sector is concerned, we’re doing a lot of work not only in Metro Manila, but all over the country,” he said, adding both residential projects and commercial establishments have helped buoy the sector.

Madrasto said PCA is expecting more tourism and residential projects next year, with more high-rise buildings in the pipeline.

The PCA official said construction of the tallest building in the Philippines—the 68-story Discovery Primea, a development of JTKC Land Inc.—will soon begin along Ayala Avenue in Makati City.

But Levy Espiritu, incoming association president, said many developers have shifted to building medium-level residential condominium units since most became wary of the global economic slowdown.

“But it’s surprising that the Philippines has not been really affected by the crisis,” he said. Madrasto said construction activities by the government will peak starting this month until March next year and will resume right after the 2010 national elections.

However, he said public works projects usually get delayed as the government perennially encounters problems in securing “right of way.”

In light of an expected construction boom in the country, Anthony Fernandez, PCA president, announced that the association will also be holding its annual Philippine International Construction Equipment and Building Materials Exhibition (PHILCONSTRUCT) in Visayas and Mindanao next year.

PHILCONSTRUCT 2009, the 19th edition of this industry expo, is currently ongoing until November 15, 2009, Sunday, at the SMX Convention Center in Pasay City. –BEN ARNOLD O. DE VERA, Manila Times