The housing industry in Southern Mindanao, Philippines, has enjoyed a brisk year because of the growth in housing development projects this year, an official of the Pagibig Fund said on Thursday.
Jose Banzon Jr., Pagibig Fund vice president for Southern and Central Mindanao, said the increase in Pagibig Fund’s loan value for housing development projects in the region, which is made up of the provinces of Davao Del Sur, Davao Del Norte, Davao Oriental, and Compostela Valley; and the cities of Tagum, Panabo, Digos, and Davao, was a testament to the growth enjoyed by the housing industry this year.
He said in 2007, Pagibig’s loan value in the region reached P1.454 billion, surpassing its target loan value of P1.258 billion. The total housing development loan amount is equivalent to 3,797 units.
Meanwhile, Holcim Philippines Inc. also projected a bright future, at least for its business, with the increasing demand for cement. Eduardo Sahagun, Holcim senior vice-president for sales, marketing, and distribution, said the rise in the demand for cement was brought about by the increasing activity in the construction sector.
"There has been an increase in the construction of commercial buildings, residential units, major thoroughfares, and even farm-to-market roads in the remote villages," he said.
Robert Anthony Te, Holcim’s operating head for Southern Mindanao, said cement consumption for regions 11, 12, the Autonomous Region in Muslim Mindanao (ARMM) and Caraga, went up to roughly 900,000t this year compared to the 840,000t in 2005 and 2006.
Sahagun credited the country’s improving economy for the brisk sale of cement this year. He said the government, also one of the biggest spenders for construction materials, has accumulated enough funds for infrastructure projects.