Key Trends in the Philippine Construction Industry

The Philippine construction industry was among the largest economic powerhouses in 2011, and it is forecasted that it will remain to be so in the following years. From 2009 to 2013, the compound annual growth rate (CAGR) of the construction industry reached 12.01% due to robust public investments in the infrastructure and residential markets. Experts reported that the same public investments would be the main growth drivers in 2014-2018, which is equivalent to 9.90% CAGR. Construction of more residential properties, bridges, roads, offices, and power plants will contribute to the growth of the construction industry.

According to the Philippine Statistics Authority (PSA), the number of approved building permits increased by 20.8%, from 24,400 new construction projects in the first quarter of 2013 to 29, 468 in the first quarter of 2014. Moreover, the current Duterte administration unveiled a three-year rolling infrastructure program (TRIP) amounting to P3.6 trillion from 2018 to 2020.

So what does this mean to you as a business owner in the construction industry? It shows you that there is a lot of business opportunities waiting to be harnessed. However, competition is fierce. Everyone wants to get a piece of this booming industry. How can you get ahead of your game and stay on top of the competition?

The best way for you to succeed in your business is to quantitatively benchmark yourself vs the rest of the industry and get the right roadmap to improve your creditworthiness. There is no other information more critical than these in making the right business decisions.

That’s where CreditBPO comes in. We run your business information through our algorithm to generate your Credit Rating Report that includes ratings of your management quality, business conditions and financial performance.

We generate your credit profile and provide actionable recommendations on how to improve your credit risk rating. Enhance your credit score, increase your chance of obtaining bank loans, and receive the right funding for your next big project. This gives you the ability to take advantage of strategic business opportunities that come your way.

We recognize the challenges of growing your business. We partner with you by optimizing your strengths and downplaying your weaknesses. Discover how can improve your business. Email us today at info@creditbpo.com or visit creditbpo.com today.