Saturday, January 28, 2017

Honda remains committed to revolutionizing the Philippine Construction Industry by Manila Standard

RealAutoTips. - This is information for you from Honda manufacturer with the article that titled with Honda remains committed to revolutionizing the Philippine Construction Industry by Manila Standard.

Honda Power Products newest revolutionary engine, the GX Cyclone Model, come on time when the country’s construction industry is booming.

As early as May 2016, various reports showed that the rate of construction growth in the Philippines will remain relatively high until 2020, fueled by greater focus on infrastructure improvement both on the private and government sector. London-based Timetric’s Construction Intelligence Center (CIC), for instance, said the Philippine construction industry is expected to grow in the next four years, reaching $47.0 billion in 2020 from the report in Construction in the Philippines- Key Trends and Opportunities to 2020, which was released in March 2016.

The largest contributor to the Philippine construction industry is the residential market which is expected to account for as much as 33.9% of the industry’s total value in 2020. With the onset of an expanding middle-class population, urbanization of underprivileged areas, as well as housing projects for low-and middle-income groups. To further market growth, the government’s Home Development Mutual Fund (Pag-IBIG Fund) financing scheme is expected to provide continued support to low-and middle-income households. Meanwhile, the infrastructure market is not only expected to be the second largest contributor but also the fastest-growing sector in the construction industry, with the report seeing the said market to reach $14.7 billion in 2020 at a CAGR of 14.14%, driven by government plans to develop high-speed rail links, highways, and sea ports through PPPs or public-private partnerships.

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