|Marina Bay construction site (Photo credit: j-imaging)|
The construction boom will continue, in fact, more construction frenzy are expected in 2013. A friend of mine emailed me that Tacloban City Airport construction and repair have been started! 2013 is an election year - so it will not just be a boom but a frenzy! The government will front load all its construction budget for 2013 during the first quarter.
If you have plans for repair, construction, or whatever; I would defer it until 2014. Labor costs would be up, including construction materials and related expenses in 2013. You should wait until things gets calmer, and labor becomes more available at a more affordable cost.
On related news; The country’s gross international reserves (GIR) reached a new record high of $82.093 billion in October, the Bangko Sentral ng Pilipinas (BSP) reported yesterday; another is, Market continues bull run, hits new record high; local stocks hit a new record high for the second straight trading session yesterday and for the 25th time this year. Analysts said the market was buoyed by benign inflation and upbeat news on third quarter corporate earnings; 7-year T-bonds plunge to record low of 3.875%....
IMO, 2013 GNP and GDP would be highest in 2013 compared to the past 10 years!