The value of Philippines construction market is forecasted by GlobalData to grow by 7.0% in real terms in 2024, having grown by 12.7% in 2023. A key growth market will be the infrastructure market, with output rising by 6.4% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Here are the five largest construction projects initiated in Philippines during Q3 2024, according to GlobalData’s construction projects database.
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1. Shang Summit Residential Development
The project involves the construction of 6,000m2, two residential tower with 1,920 units in South Triangle, Quezon City, the Philippines
Construction work started in Q3 2024 and is expected to be completed in Q4 2031.
2. Lapu-Lapu City Desalination Plant
The project involves the construction of a desalination plant with the production capacity of 100,000M3/D in Lapu-Lapu City, Central Visayas, the Philippines.
Construction work commenced in Q3 2024 and is expected to finish in Q4 2028.
The project will benefit around 88,000 households or 440,000 people in the region.
3. IPI Center Mixed-Use Community
The project involves the construction of a mixed-use community on 2.85ha of land in Cebu, the Philippines.
Construction work started in Q3 2024 and is forecast to complete in Q4 2029.
The aim of the project is to bring Rockwell’s touch to all the lifestyle, retail, and workspace needs of modern professionals and growing families in the region. It is Rockwell Land’s third project in Cebu.
4. Clark Freeport Intermodal Transport Terminal
The project involves the construction of a 23,955m2, four-story intermodal transport terminal and office tower in Clark Freeport Zone, Central Luzon.
Construction work commenced in Q3 2024 and is expected to be completed in Q3 2027.
5. Clark Special Economic Zone Tire Manufacturing Plant Expansion
The project involves the construction of a tire manufacturing plant in Central Luzon.
Construction work started in Q3 2024 and is expected to be completed in Q2 2026.
The project aims to meet the consumer preferences for larger, high-performance tires to achieve the company’s overall growth and competitiveness in the global tire market and elevate the daily production capacity by 5.8% reaching a total of 32,500 tires per day. Buy the profile here.
For more details on the latest construction projects, buy the profiles here.
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