PH construction market expected to reach $60.08B by 2033

CEBU CITY --The Philippines construction market is expected to reach USD 60.08 billion by 2033, growing at a compound annual growth rate (CAGR) of 4.8 percent from 2025 to 2033, driven by government infrastructure initiatives and increasing demand for residential and commercial spaces, according to the Philippine Statistics Authority (PSA).

As the 14^th PHILCONSTRUCT Visayas 2025 kicked off on June 19-21 in Cebu, bringing in more than 300 top-tier brands and over 7,000 participants to engage and experience the potentials, growth and development of the construction industry in the country.

The government's commitment to infrastructure development, including large-scale projects is expected to drive growth in the construction industry.  PSA reports said that the Visayas region's construction industry has shown varying trends in recent years. Construction statistics in the 1st quarter of 2024, the region's total number of constructions decreased by 2.5 percent to 1,392, down from 1,427 in the same quarter of 2023.

This decline was largely due to a 56.7 percent drop in additions, alterations, and repairs of existing structures.  Conversely, non-residential buildings increased by 25.4 percent to 519 constructions in the 1st quarter of 2024 from 414 in the same quarter of 2023.

Residential buildings comprised 59.7 percent of total constructions, while non-residential buildings and additions/alterations/repairs accounted for 37.3 percent and three percent respectively.

Meanwhile, the total value of constructions in the region reached P3.8 billion in the 1st quarter of 2024, an 8.7 percent increase from P3.5 billion in the same quarter of 2023.   Non-residential buildings' value of construction comprised 58.6 percent of the total value, while residential buildings contributed 39.6 percent.

According to the “Highlights of Eastern Visayas’ Construction Statistics” Eastern Visayas saw a 5.1 percent increase in the number of constructions in the 3rd quarter of 2024, with a total value of P3.8 billion, up 25 percent from the same quarter in 2023.   Non-residential buildings drove this growth, with a 52.5 percent increase in value to P2.3 billion in the 3rd quarter of 2024.

Challenges, opportunities in the construction industry

The construction industry in the Visayas faces several challenges and opportunities that shape its growth and development that include labor shortage, cost overruns and delays, corruption, environmental concerns and regulatory challenges.

Labor Shortage. The industry struggles with a lack of skilled workers and professionals, including architects, engineers, and construction workers. This shortage is attributed to limited training and educational opportunities, an aging workforce, and Filipinos seeking better opportunities abroad.

Cost Overruns and Delays. Unforeseen expenses, fluctuating material costs, and supply chain disruptions lead to project delays and increased costs. Poor productivity and lagging technological advancements exacerbate these issues.

Corruption. Construction companies often allocate a significant portion of their budgets to pay off government officials and employees, compromising project quality and increasing costs.

Environmental Concerns. The industry's rapid growth generates substantial construction waste and resource consumption, contributing to adverse environmental impacts.

Regulatory Challenges. Complex regulatory frameworks, land-use issues, and zoning policies vary across regions, demanding adaptability from construction firms.

Opportunities are also seen in the construction industry such as Infrastructure Development and government initiatives, Investments in transportation, energy, and digital infrastructure create opportunities for construction companies.

There is a growing interest in Sustainable Construction or green building and sustainable practices presents opportunities for innovation and environmentally friendly projects. Technological advancements like adopting Building Information Modeling (BIM) drones, and 3D printing can enhance efficiency, safety, and productivity.

Affordable Housing with government efforts to address housing shortages, particularly for low-income sectors, create opportunities for construction firms; and skilled labor development by investing in training and education programs can bridge the skills gap and develop a skilled workforce.

These and more were part of the discussions at the CEO Forum and various sessions during the 14th PHILCONSTRUCT Visayas 2025 on June 19 to June 21 at the Waterfront Cebu Hotel organized by the Philippine Constructors Association (PCA) in partnership with the Cebu Contractors Association (CCA) and managed by Philconstruct Events, Exhibitions and Conference Corp. (PEECC). (Photos: MBCNewman)

 

 

 

 

 

 

 

 

 

 

 

 

14th PHILCONSTRUCT Visayas kicks off June 19-21 in Cebu

CEBU CITY— The 14^th PHILCONSTRUCT Visayas 2025 kicks off on June 19 to June21 in Cebu at the Waterfront Hotel in Lahug, Cebu City organized by the Philippine Constructors Association (PCA) in partnership with the Cebu Contractors Association (CCA) and managed by Philconstruct Events, Exhibitions and Conference Corp. (PEECC).

Officially launched in a press conference on June 4, Event Chairman Engr. Bernard Vonn Sia bared that more than 300 top-tier brands are on exhibit across 6,000 sqm of exhibit space at the Ballroom of Waterfront Cebu City Hotel and more than 7,000 trade buyers and professionals are expected to attend the event.

“From a small initiative to a major regional showcase—Philconstruct Visayas has matured. This year, we’ve introduced smarter features, new technologies, and stronger collaborations with organizations like UAP, PICE, PIID, and ACEL. We’re no longer just keeping up—we’re helping set the standard,” Vonn Sia said.

One of this year’s signature components is the CEO Forum, themed “Strategies on Business Growth.” CEO Forum Chairman Engr. Zaldy Casinillo described the session as a stage for thought leadership featuring keynote insights from Edgar Saavedra, CEO, Megawide and Ricardo Lagdameo, President, Damosa Land.

These are not just business talks. These are strategic roadmaps for local leaders looking to thrive, not just survive, Co-chair for CEO Forum, Tracy Liu offered a compelling call to action for inclusive leadership and workforce transformation.  “This is a conversation about people—about how ups-killing, diversity, and sustainability are no longer optional. They’re essential to building future-proof businesses,” she added.

PCA President Engr. Jerry Pancho emphasized the organization’s nationwide commitment. He said that through the PCA’s Industry 2030 Roadmap, sustainability programs, and regional collaborations like these ensure growth to happen from ground up and that means here in Cebu and across Visayas.  “We are building not just structures, but a stronger, more resilient industry,” he said.

CCA Vice President for Internal Affairs, Engr. Kevin Lim reinforced the strength of Cebu’s construction sector, noting the city’s vital role as a regional hub for innovation and technical excellence. They are proud of the builders and talent coming from the Visayas. Philconstruct is not just an exhibit—it’s a celebration of Filipino quality and craftsmanship, he added.

Meanwhile, PEECC Director Engr. Ronaldo Elepano spotlighted the Technoforum, a core feature of the event aimed at upskilling the industry with sessions on green building, AI in construction, and digital transformation. “We want every participant to walk away not just with products—but with ideas and tools that shape how we build tomorrow. 

PHILCONSTRUCT 2025 Series Chairman Engr. Ruben Cueto highlighted the inclusive reach of the event’s nationwide rollout across Luzon, Visayas, Mindanao, and Metro Manila.  By bringing Philconstruct to the regions, the create access to opportunity. Events like these energize local ecosystems and give voice to the builders beyond Metro Manila.

This year’s edition of PHILCONSTRUCT Visayas promises a high-value, multi-dimensional experience for contractors, engineers, architects, policymakers, suppliers, and students alike. From innovation showcases and learning sessions to strategic dialogues and sustainability initiatives.  Visit the show for FREE by registering at https://philconstructevents.com/registration-visayas. Contact them at info@philconstructevents.