Philippines
The Philippines: Metro Manila offices and residential towers, Bonifacio Global City and Makati, and the provincial growth centres.
Building permit approvals in the Philippines fell to a three-month low in June, driven by weak consumer demand and high borrowing costs that weighed on residential projects even as business-related works remained resilient, the Philippine Statistics Authority (PSA) said. Preliminary data showed building projects covered by the permits numbered 17,081 in June, down 0.3% from a year earlier. The decline reversed the 20% expansion recorded in June 2025, though it marked an improvement from the revised 6.5% contraction in May 2026. Construction projects covered 4.21 million sq m of floor area, down 11.1% year on year, while the value of approved projects rose 22% to P74.34 billion.