Construction & Real Estate
From The Report: Philippines 2018
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Favourable government policies and a growing, increasingly urbanised population have created fertile ground for the expansion of the Philippines’ construction sector in recent years. Driven by major investments in transport networks, residential complexes and social housing, the construction industry grew at an average annual rate of 12% from 2012 to 2016. The annual growth rate more than halved in 2017, falling from 12.1% to 5.3%, but as of the first quarter of 2018 growth was registered at 9.3% year-on-year. A confluence of economic forces has also bolstered real estate demand in recent years, with an influx of outsourcing firms, rising incomes, cash-laden investors and the liberalisation of key sectors all playing a part. This chapter contains interviews with Edgar Injap Sia II, CEO and Chairman, DoubleDragon Properties; and Willie J Uy, President and CEO, 8990 Holdings.