Construction in the Philippines - Key Trends and Opportunities to 2024

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Date: 03-Mar-2020
No. of pages: 50
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Construction in the Philippines - Key Trends and Opportunities to 2024

Summary

The Philippine construction industry expanded by 9.4% in real terms in 2019, this was preceded by an average annual growth of 10.9% during the preceding four years. Growth during the review period (2015-2019) was driven by the continuous spending on large-scale transportation and energy projects under the Build, Build, Build (BBB) program.

Although the overall spending on infrastructure remained strong in 2019, a delay in approval of the 2019 budget and the 45-day ban on public works - due to the prohibition of disbursement of public funds and materials - had an impact on the country's investment on infrastructure in the first half of the year.

In March 2019, the government launched the Philippine Construction Industry Roadmap 2020-2030, with an aim to increase the construction industry's contribution to the Philippine economy from PHP2.3 trillion (US$44.1 billion) in 2018 to PHP130 trillion (US$2.5 trillion) by 2030. Furthermore, it will also increase the job opportunities for construction from four million in 2018 to seven million by 2030.

Forecast-period growth will be driven by public and private sector investments in transport, energy and educational infrastructure projects. In January 2020, the government approved the PHP4.1 trillion (US$77.4 billion) National Budget for the Fiscal Year (FY) 2020, which is 12% higher than the FY2019 budget of PHP3.7 (US$70.2 billion). The government plans to increase the country's spending on infrastructure from the current 5% of GDP to over 6% by 2022. In October 2019, the government increased the number of flagship infrastructure projects under the BBB program from 75 to 100. Of this total, 38 projects are expected to be completed and 22 to be partially operational by 2022.

The industry's output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 7.92% over the forecast period, according to GlobalData.

However, the outbreak of the ongoing Coronavirus in China is expected to affect the country's tourism and exports, thereby hurting its economy in 2020. Chinese tourists account for over a fifth of the total foreign tourist arrivals in Philippines. Following the outbreak in February 2020, the Philippine government imposed a travel ban on foreigners traveling from China, Hong Kong and Macau.

GlobalData's Construction in the Philippines - Key Trends and Opportunities to 2024 report provides detailed market analysis, information and insights into the Philippine construction industry, including -

- The Philippine construction industry's growth prospects by market, project type and construction activity

- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Philippine construction industry

- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Scope

This report provides a comprehensive analysis of the construction industry in the Philippines. It provides -

- Historical (2015-2019) and forecast (2020-2024) valuations of the construction industry in the Philippines, featuring details of key growth drivers.

- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector

- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.

- Listings of major projects, in addition to details of leading contractors and consultants

Reasons to buy

- Identify and evaluate market opportunities using GlobalData's standardized valuation and forecasting methodologies.

- Assess market growth potential at a micro-level with over 600 time-series data forecasts.

- Understand the latest industry and market trends.

- Formulate and validate strategy using GlobalData's critical and actionable insight.

- Assess business risks, including cost, regulatory and competitive pressures.

- Evaluate competitive risk and success factors.

Construction in the Philippines - Key Trends and Opportunities to 2024

Table of Contents
1 Executive Summary
2 Construction Outlook: At-a-glance
3 Key Drivers and Risks
3.1. Economic Performance
3.2. Political Environment
3.3. Demographics
3.4. Risk Profile
4 Construction Outlook
4.1. All Construction
4.1.1. Outlook
4.1.2. Project analytics
4.2. Commercial Construction
4.2.1. Outlook
4.2.2. Project analytics
4.3. Industrial Construction
4.3.1. Outlook
4.3.2. Project analytics
4.4. Infrastructure Construction
4.4.1. Outlook
4.4.2. Project analytics
4.5. Energy and Utilities Construction
4.5.1. Outlook
4.5.2. Project analytics
4.6. Institutional Construction
4.6.1. Outlook
4.6.2. Project analytics
4.7. Residential Construction
4.7.1. Outlook
4.7.2. Project analytics
5 Key Industry Participants
5.1. Contractors
5.2. Consultants
6 Appendix
6.1. What is this Report About?
6.2. Definitions
7 About GlobalData
7.1. GlobalData at a Glance
7.2. GlobalData Construction
7.3. Disclaimer
7.4. Contact Us

List of Tables
Table 1: Construction Outlook
Table 2: The Philippines, Key Economic Indicators
Table 3: The Philippines, Construction Output Value (Real, US$ Million)
Table 4: The Philippines, Construction Output Value (nominal, PHP Million)
Table 5: The Philippines, Top Commercial Construction Projects by Value
Table 6: The Philippines, Top Industrial Construction Projects by Value
Table 7: The Philippines, Top Infrastructure Construction Projects by Value
Table 8: The Philippines, Top Energy and Utilities Construction Projects by Value
Table 9: The Philippines, Top Institutional Construction Projects by Value
Table 10: The Philippines, Top Residential and Mixed-Use Construction Projects by Value
Table 11: The Philippines, Key Contractors
Table 12: The Philippines, Key Consultants
Table 13: GlobalData Construction Market Definitions
Table 14: Construction Risk Index Ratings and Scores

List of Figures
Figure 1: Key Markets, Construction Output Growth Matrix and Risk Matrix
Figure 2: The Philippines, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: The Philippines, Risk Profile
Figure 4: The Philippines, Risk Comparison
Figure 5: The Philippines, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate)
Figure 6: The Philippines, Construction Output Value, Growth Matrix
Figure 7: The Philippines, Construction Output Value, by Sector (Real, US$ Million), 2015-2024
Figure 8: The Philippines, Construction Projects Pipeline, Projected Annual Spending by Stage (US$ Million), 2019-2024
Figure 9: The Philippines, Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 10: The Philippines, Commercial Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 11: The Philippines, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 12: The Philippines, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (US$ Million), 2019-2024
Figure 13: The Philippines, Industrial Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 14: The Philippines, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 15: The Philippines, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (US$ Million), 2019-2024
Figure 16: The Philippines, Infrastructure Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 17: The Philippines, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 18: The Philippines, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (US$ Million), 2019-2024
Figure 19: The Philippines, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 20: The Philippines, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 21: The Philippines, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (US$ Million), 2019-2024
Figure 22: The Philippines, Institutional Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 23: The Philippines, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 24: The Philippines, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (US$ Million), 2019-2024
Figure 25: The Philippines, Residential Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 26: The Philippines, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 27: The Philippines, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (US$ Million), 2019-2024
Figure 28: The Philippines, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 29: The Philippines, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)
Figure 30: The Philippines, Headquarters of Key Consultants (% of Total Project Pipeline)
Figure 31: The Philippines, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants)
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