Online marketplace for construction sector launched
An online marketplace for builders, hardware stores, and construction suppliers, has been launched to serve as a platform to support the robust real estate and construction industry in the Philippines.
Dubbed “BuildHub.ph,” it is an online platform that serves as a centralized system for the construction industry.
Introduced by BuildMart PH Technologies, Inc., a B2B eCommerce platform that connects manufacturers with hardware stores, this online marketplace aims to streamline and enhance the visibility of construction sellers, especially hardware stores and brands, thereby bolstering their online presence and customer reach.
It will also benefit from Buildmart’s 18 fulfillment centers nationwide, 33 renowned brand partners such as Republic Cement, TKL Steel, Union, Saint Gobain, and Vicem, and 150 partner hardware stores.
Andre Bernardo, co-chief executive officer (CEO) of BuildHub.ph, emphasized the importance of industry experience and strategic partnerships in innovating the construction sector.
“With a combined 67 years in construction, our team adeptly identifies industry pain points, devises effective solutions, and fosters sustainable partnerships with hardware sellers, construction brands, and contractors across the Philippines. Together, we strive to shape the future of inclusive business and community development,” Bernardo said.
Established in 2018, Hubware Corporation, holds the distinction of being the Philippines’ first specialized online marketplace for the construction, hardware, and home improvement sectors. It aims to empower small and medium-sized enterprises through digital innovations.
“This strategic alliance represents a monumental leap forward for the technology industry, with both Hubware Corporation and BuildMart PH Technologies Inc. set to transform the digital landscape of the construction sector,” noted said Marika Laciste, Chief Business Officer of BuildHub.ph.
The investment enables Hubware to develop a holistic digital construction ecosystem in the Philippines, spearheaded by its key platform, BuildHub.ph.
BuildHub.ph will introduce several innovative products, including BuildCredit, a dedicated financing facility offering Builders and Hubware stores with competitive interest rates between 1 percent to three percent for terms of 30-60 days. This is designed to support the growth of hardware stores and builders.
Also, the marketplace will benefit from Buildmart Shipping, a proprietary logistics and warehousing network ensuring the timely delivery of over 400 shipments monthly, facilitated by a fleet of 10 trucks and its owned ship, “MV Buildmart 1,” which has a capacity of loading 22,000 bags.
The launch of BuildHub.ph is seen to help address construction industry challenges, such as manual transactions, limited payment options, and extended delivery times.
“Our collective goal is to dominate the sector by adopting Jack Ma’s Alibaba Iron Triangle model, which focuses on three core elements: platform, logistics, and financing,” Bernardo said.
Meanwhile, Engr. Edward Paul Apigo of DOSTPCIEERD reiterated the agency’s dedication to supporting the construction industry within the startup community.
“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,” Apigo said.
Despite the fragmented nature of the local construction industry, BuildHub.ph identifies significant growth opportunities, projecting the market could attain a value of $18 billion (approximately Php1 trillion), with 30 percent to 40 percent dedicated to construction supplies and materials.
Looking ahead, BuildHub.ph sets ambitious goals to decouple its user base in 2024, and achieve a gross merchandise value of P1 billion by 2025, and expand its partnerships across the nation.
Furthermore, BuildHub.ph will lead the Philippine Construction Trade Show (PhilCon) in Visayas in June and Mindanao in September 2024.