London, 14 May 2015 – Large-scale reconstruction operations are expected to drive the growth of the construction market in Philippines, which is expected to post a CAGR of close to 15% from 2015-2019, says research firm Technavio.
The country is still recovering from the 2013 typhoon, which caused nearly $14 billion in damage. The devastation from the typhoon has resulted in massive rebuilding operations.
The latest report by Technavio pinpoints big construction projects like Tacloban City’s main airport, seaports, cargo terminals, power lines, hospitals and mobile network stations, which will impact market growth through the projected period.
“To accommodate the displaced population and provide them with relief, the government is investing significantly in reconstruction operations in typhoon-affected areas, which is expected to impact the growth of the construction market in Philippines,” says Faisal Ghaus, Vice President of Technavio.
Furthermore, the Technavio report emphasizes the development of airport infrastructure as a key market trend. The Department of Transportation and Communications is planning to build six new regional airports, which will be planned under the public-private partnership scheme.
“The expansion and renovation of Mactan-Cebu International Airport is also underway to accommodate the growing passenger traffic in the country,” says Ghaus.
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
