Contractors could increase their projects through online marketplaces, BuildMart PH Technologies Inc., an e-commerce platform provider for suppliers of construction materials, said.

BuildMart said the growth will be driven by construction supplies which account for 30 percent to 40 percent of the entire industry.

Based on global researcher Statista, the Philippine construction industry contributed P1.5 trillion in gross value to the economy last year, up from P1.48 trillion in 2019 and from P1.1 trillion in 2020 during the Covid-19 pandemic.

BuildMart said it targets a gross merchandise value of P1 billion by 2025 through partnerships with industry players.

BuildMart and Hubware Corp., an online marketplace for hardware stores, recently launched the website BuildHub.ph to open up their access to multiple manufacturers of construction materials.

This came after BuildMart provided Hubware an additional funding the amount of which was not divulged.

“With a combined 67 years in construction experience, our team adeptly identifies industry pain points, devises effective solutions and fosters sustainable partnerships with hardware sellers, construction brands, and contractors across the Philippines,” Andre Bernardo, one of the chief executive officers of BuildHub.ph, said.

Securing future

“Together, we strive to shape the future of inclusive business and community development,” he added.

Established in 2018, Hubware serves over 50 hardware stores.

Bernardo said BuildHub.ph will also offer financing to hardware stores, with competitive interest rates of 1 to 3 percent and terms of 30 to 60 days.

He added that BuildHub.ph will also connect such stores to BuildmartShipping, a logistics and warehousing network.

Bernardo said the portal fulfills over 400 deliveries each month through land and sea using its ship MV Buildmart 1.

“This strategic alliance represents a monumental leap forward for the technology industry,” BuildHub.ph’s chief business officer Marika Laciste said.

The Department of Science and Technology said it supports the partnership of the industry players that will allow small and medium entrepreneurs to expand their businesses.

“We have also implemented our startup development program to foster an integrated, inclusive, and sustainable Philippine startup ecosystem. Through our various programs, we aim to support and nurture the diverse needs of startups such as our startup grant fund program,” Edward Paul Apigo said during a recent investment meeting on the launch of BuildHub.ph.