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Real estate and construction
The Real Estate & Construction sector is one of the pillars of the global economy, responsible for meeting the increasing needs of the population for affordable housing and for efficient social, transportation and utility infrastructure. As a labour-intensive industry, it is a major contributor to employment, income generation and social progress. Real Estate & Construction is also an essential element for economic value creation and sustainable growth, as it lays the foundations for the development of virtually all other industries.
Activities associated with Real Estate & Construction are the construction of residential and non-residential buildings, heavy and civil engineering construction, and the related speciality trade contracting activities. It also includes management and leasing of land and properties, real estate brokerage, architectural and engineering services, warehousing and storage activities, and oper🤪ation of car parks and garages.
The GVAs of the Philippines’ real estate and construction sectors grew steadily beꦦtween 2013 and 2017, reaching PHP 1,941bn for Construction and P🦩HP 2,085bn for Real Estate and Other Business Activities in the latter year. The good performance ...
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