The Philippines continues to be one of the fast-rising countries in the world and this is proven by the growing development of infrastructure and the investment of different construction companies from the Philippines and abroad.
According to an official statement released by the Department of Finance, the government earmarked a P1 trillion budget this year for the construction of highways, bridges, establishments, and other works throughout the country. Local residential and commercial buildings such as offices are also looking to get big this year, according to Timetric’s Construction Intelligence Center in London.
This news signal a graceful climb of the construction industry to greater heights. People interested in a fit-out construction for their offices as basic as adding fit out side and center tables should also be interested about the impact it can do to their companies and in the years to come.
Construction Market in the Country
While it is true that Manila is the only metro with towering establishments and infrastructure, other parts of the Philippines are catching up. Right now, nearby provinces like Cavite are slowly building their own bustling region and are starting to look like an extended arm of Manila. Ayala Land Incorporation recently announced a major development in Kawit, Cavite that is expected to be the next big business district in the country.
Most of the buildings being built are either residential or commercial. Residential construction is the biggest industry in the Philippines—taking at least 31.4 percent of the country’s total output value in 2016. This is because more Filipinos can afford upscale homes than before.
Aside from residential developments, constructions of commercial establishments that are mostly comprised of business offices continue to grow. In 2017 alone, more than 1,000 construction companies attended The Philippine World Building and Construction Exposition, a nationwide construction expo made possible by Worldbex Services International.
Build Build Build Program
The P1 trillion budget allocated for infrastructure is under the government’s Build Build Build Program, a project that aims to produce at least 75 projects costing $36 billion to revolutionize the Philippines and make it an upscale, modern country by 2022.
With this, more construction companies will be commissioned, and more jobs will be created. Over a million jobs—1.7 million jobs to be exact—are estimated to be created once the project rolls out. The target infrastructure projects are seaports, bus transits, railways, airports, bridges, and roads.
What this means for fit out
Fit out is the transformation of a base unit to make it fitting for an occupation. An office fit out ensures that a business has a workplace that is functional, efficient, and true to the company’s branding and values. Fit out works also include planning office layouts and crafting office equipment and facilities like fit out free standing tables, and office cubicles.
The surging industry of construction in the Philippines is sure to make office fit out prominent and the fit-out industry has reasons to be enthusiastic about its future. In February 2017, a trade show called Philippine Finishing and Furnishings Expo was even held to highlight the developing market of interior furnishing and fit out construction in the Philippines.
Fit out is still a somewhat obscure construction concept. Many may have heard a component of it like setting fit out executive tables, but don’t fully understand what it is. Fortunately, this situation is about to change. More business means more office spaces, and more office spaces means more opportunities for fit out and construction companies in the Philippines!
In order to match the rising stride of the construction industry, learn all about fit out and invest in it now with the aid of a reliable fit out and construction company in the Philippines.
