Philippines’ urban reinvention

The Philippines Development Plan 2017–2022 comes with the objective of making Philippines an upper-middle-income country by 2022. Along with this, the government also plans on reducing the unemployment rate from 5.5% in 2016 to 3.0% by 2022. The government plans to do the same by providing economical houses which can also influence a boost in the residential construction market. According to the country’s government predictions, the housing sector is expected to grow by 345,941 units and reach to 6.2 million units by 2030. The government’s vision is to have smart and smooth transport systems for which it commissioned PHP 53.3 billion in 2017. It has also declared to invest PHP 8.2 trillion on nine upcoming marathon by 2022.

The government is also making all the efforts it can to install fiber optic and wireless technology in the major parts of the country with an investment of PHP 200 billion. Every sector is being groomed to sync with the facilities and reaches of high speed internet.