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The Philippines Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (Q2 2025)

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    Report

  • 55 Pages
  • June 2025
  • Region: Philippines
  • GlobalData
  • ID: 5767966
The analyst expects the construction industry in the Philippines to grow in real terms by 6.2% in 2025, supported by public and private sector investments to develop transport infrastructure and renewable energy projects, coupled with an increase in construction loans and building permits issued. According to the Bangko Sentral ng Pilipinas (BSP), the average value of the Philippine banking system’s loans outstanding for construction rose by 13.2% year-on-year (YoY) in January-February 2025, while the total value of building permits approved grew 22% YoY during the same period, according to the Philippine Statistics Authority (PSA). Also, as part of 2025 Budget, the government allocated PHP861.2 billion ($14.9 billion) for the development of transport infrastructure projects, followed by PHP257.1 billion ($4.5 billion) for water infrastructure projects, PHP29.3 billion ($507.9 million) for the construction of education facilities, PHP23 billion ($398.7 million) as part of Health Facilities Enhancement Program to upgrade and construct healthcare facilities, and PHP7.1 billion ($123.1 million) for development of academic buildings and school facilities.

Over the remainder of the forecast period, the construction industry is expected to register an annual average growth rate of 7.2% between 2026 and 2029, supported by investments in transport infrastructure, coupled with investments in tourism and industrial projects as part of the country’s public-private partnership (PPP) projects. In April 2025, the government added 14 new projects to its existing PPP pipeline, bringing the total projects to 187 projects valued at PHP2.6 trillion ($45.1 billion). Some of the major ongoing projects are PHP18.3 billion ($317.2 million) Iloilo Global City project and the PHP5.3 billion ($91.9 million) Subic International Airport project

The Construction in the Philippines - Key Trends and Opportunities to 2029 (Q1 2025) 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 (2020-2024) and forecast (2025-2029) 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 our 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 business strategies using the analyst's critical and actionable insight
  • Assess business risks, including cost, regulatory and competitive pressures
  • Evaluate competitive risk and success factors

Table of Contents

1 Executive Summary2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 Risk Profile
4 Construction Outlook
4.1 All Construction
  • Outlook
  • Latest news and developments
  • Construction Projects Momentum Index
4.2 Commercial Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.3 Industrial Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.4 Infrastructure Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.5 Energy and Utilities Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.6 Institutional Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.7 Residential Construction
  • Outlook
  • Project analytics
  • Latest news and developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
7.1 What is this Report About?
7.2 Definitions
7.3 CRI Methodology
  • About the Analyst
  • Contact the Publisher
List of Tables
Table 1: Construction Industry Key Data
Table 2: The Philippines, Key Economic Indicators
Table 3: The Philippines, Commercial Construction Output by Project Type (Real % Change), 2020-29
Table 4: The Philippines, Top Commercial Construction Projects by Value
Table 5: The Philippines, Industrial Construction Output by Project Type (Real % Change), 2020-29
Table 6: The Philippines, Top Industrial Construction Projects by Value
Table 7: The Philippines, Infrastructure Construction Output by Project Type (Real % Change), 2020-29
Table 8: The Philippines, Top Infrastructure Construction Projects by Value
Table 9: The Philippines, Energy and Utilities Construction Output by Project Type (Real % Change), 2020-29
Table 10: The Philippines, Top Energy and Utilities Construction Projects by Value
Table 11: The Philippines, Institutional Construction Output by Project Type (Real % Change), 2020-29
Table 12: The Philippines, Top Institutional Construction Projects by Value
Table 13: The Philippines, Residential Construction Output by Project Type (Real % Change), 2020-29
Table 14: The Philippines, Top Residential Construction Projects by Value
Table 15: The Philippines, Key Contractors
Table 16: The Philippines, Key Consultants
Table 17: The Philippines, Construction Output Value (Real, $ Million)
Table 18: The Philippines, Construction Output Value (Nominal, PHP Billion)
Table 19: the analyst Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
List of Figures
Figure 1: South-East Asia, Construction Output (Real % Change), 2023-29
Figure 2: The Philippines, Construction Output by Sector (Real % Change), 2023-25 and 2026-29
Figure 3: The Philippines, Risk Summary
Figure 4: The Philippines, Risk Regional Comparison
Figure 5: The Philippines, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2020-29
Figure 6: The Philippines, Construction Output Value, by Sector (Real, $ Million), 2020-29
Figure 7: The Philippines, Construction Output Value (PHP Billion, 2018 Constant Prices)
Figure 8: The Philippines, Construction Value-Add (PHP Billion, 2018 Constant Prices)
Figure 9: The Philippines, Gross Fixed Capital Formation in Construction (PHP Billion, 2018 Constant Prices)
Figure 10: The Philippines, Gross Domestic Capital Formation in Mining and Construction Machinery (PHP Million, 2018 Constant Prices)
Figure 11: The Philippines, Construction Materials Retail Price Index in the National Capital Region (2012=100)
Figure 12: The Philippines, Loans Outstanding for Construction (PHP Billion)
Figure 13: The Philippines, Approved Building Permits (PHP Billion)
Figure 14: The Philippines, Total Approved Foreign Investments (Current Prices, PHP Billion)
Figure 15: The Philippines, Construction Projects Momentum Index
Figure 16: South-East Asia, Construction Projects Momentum Index
Figure 17: The Philippines, Commercial Construction Output by Project Type (Real, $ Million), 2020-29
Figure 18: The Philippines, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 19: The Philippines, Accommodation and Food Service Activities Value-Add (PHP Billion, 2018 Constant Prices)
Figure 20: The Philippines, Loans Outstanding for Accommodation and Food Service Activities (PHP Billion)
Figure 21: The Philippines, Wholesale and Retail Trade Value-Add, at 2018 Constant Prices, % Change YoY
Figure 22: The Philippines, Industrial Construction Output by Project Type (Real, $ Million), 2020-29
Figure 23: The Philippines, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 24: The Philippines, Mining and Quarrying Value-Add (PHP Billion, 2018 Constant Prices)
Figure 25: The Philippines, Manufacturing Value-Add (PHP Billion, 2018 Constant Prices)
Figure 26: The Philippines, Loans Outstanding for Manufacturing (PHP Billion)
Figure 27: The Philippines, Total Exports ($ Billion)
Figure 28: The Philippines, Infrastructure Construction Output by Project Type (Real, $ Million), 2020-29
Figure 29: The Philippines, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 30: The Philippines, Transportation and Storage Value-Add (PHP Billion, 2018 Constant Prices)
Figure 31: The Philippines, Loans Outstanding for Transportation and Storage (PHP Billion)
Figure 32: The Philippines, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2020-29
Figure 33: The Philippines, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 34: The Philippines, Electricity Generation, Steam, Water, and Waste Management Value-Add (PHP Billion, 2018 Constant Prices)
Figure 35: The Philippines, Information and Communication Value-Add (PHP Billion, 2018 Constant Prices)
Figure 36: The Philippines, Loans Outstanding for Electricity, Gas, Steam and Air-Conditioning Supply (PHP Billion)
Figure 37: The Philippines, Institutional Construction Output by Project Type (Real, $ Million), 2020-29
Figure 38: The Philippines, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 39: The Philippines, Education Value-Add (PHP Billion, 2018 Constant Prices)
Figure 40: The Philippines, Human Health and Social Work Activities Value-Add (PHP Billion, 2018 Constant Prices)
Figure 41: The Philippines, Loans Outstanding for Education (PHP Billion)
Figure 42: The Philippines, Loans Outstanding for Human Health and Social Work Activities (PHP Billion)
Figure 43: The Philippines, Residential Construction Output by Project Type (Real, $ Million), 2020-29
Figure 44: The Philippines, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 45: The Philippines, Real estate and Ownership of Dwellings Value-Add (PHP Billion, 2018 Constant Prices)
Figure 46: The Philippines, Loans Outstanding for Real Estate Activities (PHP Billion)
Figure 47: The Philippines, Real Estate Price Index (2014=100)
Figure 48: The Philippines, Approved Residential Building Permits (PHP Billion)
Figure 49: The Philippines, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 50: The Philippines, Headquarters of Key Consultants (% of Total Project Pipeline)
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