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.
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. Clark Special Economic Zone Tire Manufacturing Plant Expansion
The project involves the construction of a tire manufacturing plant in Central Luzon.
Construction work commenced in Q3 2024 and is expected to finish 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.
3. Vista Alegre Solar Power Plant 65 MW
The project involves the construction of a 65MW solar power plant on 74ha of land in Bacolod, Negros Island, Western Visayas, the Philippines.
Construction work started in Q3 2024 and is forecast to complete in Q1 2025.
4. Cavite Student Accomodation Complex
The project involves the construction of a 40,000m2, 12-story student accommodation building in Barangay Molino 3, Bacoor, Cavite, the Philippines.
Construction work commenced in Q3 2024 and is expected to be completed in Q4 2026.
5. Barangay Balsik Solar Power Plant 28 MW
The project involves the construction of a 28MW solar power plant on 100ha land in Bataan, the Philippines.
Construction work started in Q3 2024 and is expected to be completed in Q1 2025.
The project aims to supply power to the National Grid Corporation of the Philippines (NGCP). Buy the profile here.
For more details on the latest construction projects, buy the profiles here.
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