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PIA Press Release

Leyte’s private building constructions increase by 53.8% in Q1

By Neil D. Lopido

Tacloban City (18 October) -- Private building constructions in Leyte during the 1st Quarter this year posted a remarkable increase by 53.8 percent totaling to 389 compared to 253 applications recorded over the same period a year ago based on the recent Leyte Quickstat released by the Leyte Provincial Statistics Office here.

Residential building applications posted the biggest increase by 133.4 percent from 127 to 271 while non-residential building construction increased by 1 application only from 30 to 31. On the other hand, applications for additions and alterations decreased by 11.1 percent and 9.2 percent, respectively.

Total value of constructions during the first quarter of 2006 increased by 43.1 percent amounting to P230.1 million from P160.8 million recorded during the same period of last year.

The value of construction for non-residential buildings registered the biggest increase by 188.7 percent to P81.8 million from P28.3 million recorded during the same quarter of 2005. Additions rose to P10.5 million, an increase of 56.3 percent, compared to the P6.75 million in Q1-05. Moreover, the value of construction for residential buildings increased also by 26 percent to P122.4 million from P97.2 million of the same quarter a year ago, while, alterations decreased by 46.4 percent to P15.3 million from P28.5 million.

Total value for building constructions was estimated at P230.1 million with a total floor area of 38.2 thousand square meters, or an average cost per square meter of P6,030. This figure represents a slight increase of 0.7 percent compared to the same period last year.

Aggregate value for non-residential building construction was recorded at P81.8 million during the 1st quarter of 2006 with a total floor area of 14.1 thousand square meters or an average cost of P5,790 per square meter. Compared to the same period last year, this figure translates to an increase of 34.3 percent.

The total value for commercial building construction reached P122.4 million with a total floor area of 22.6 thousand square meters or an average cost per square meter of P5,420, an increase of 8 percent compared to the same quarter last year. (PIA-8) [top]

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