According to a recent report by the Aklan Philippine Statistics Authority (PSA), construction projects declined by 15 percent last year, with the province recording 601 building permits last year, down from the 709 recorded in 2017.
Residential building saw the most dramatic drop, falling 19.5 percent.
The drop also saw diminishing construction values, declining from P3.5 billion in 2017 to {1.7 billion last year.
Despite the overall downturn, alterations and repairs experienced a 15.8 percent increase.
Meanwhile, most construction projects were based in Kalibo with 204 recorded, comprising 34 percent of the province’s total projects./WDJ