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Manila Bulletin devider Business devider The Stock Market devider Online marketplace to launch online construction marketplace

Online marketplace to launch online construction marketplace

Published Apr 5, 2024 07:14 am

Online marketplace for hardware and construction retailers Hubware Corporation announced that it has received an investment from business-to-business (B2B) e-commerce platform BuildMart PH Technologies Inc. to create a singular, centralized online ecosystem for the construction industry. 

The amount of the investment, announced on April 4 in Taguig City, was not disclosed by the company. 

According to Hubware, the investment will establish BuildHub.ph, which is expected to be the central platform to host a digital construction marketplace in the country. 

BuildHub.ph aims to pool together an expansive group of construction sellers, hardware stores and brands, and help them improve their online presence, market visibility and reach. 

BuildHub.ph will also offer services such as BuildCredit and BuildmartShipping. BuildCredit will be able to offer interest rates between one to three percent for 30 up to 60 days.m for hardware stores and builders. 

Meanwhile, BuildmartShipping will also provide logistics and warehousing network services through a fleet of 10 trucks and its own ship (MV Buildmart 1) that has the capacity of 22,000 bags. 

Retailers can also connect with 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.

BuildHub.ph said that there can be significant growth opportunities, “projecting the market could attain a value of $18 billion (approximately P1 trillion), with 30 to 40 percent dedicated to construction supplies and materials.”

It is also aiming to achieve P1 billion in gross merchandise value by 2025, along with expanding partnerships nationwide. 

Hubware also emphasized the importance of BuildHub.ph in  addressing common issues in the industry such as manual transactions, limited payment options, and extended delivery times.  

“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,” said BuildHub.ph co-Chief Executive Officer (CEO) Andre Bernardo. 

"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," added BuildHub.ph Chief Business Officer Marika Laciste.

Richard Lim Jr., co-CEO of BuildHub.ph also highlights the importance of dedication, perseverance, and collaboration in achieving a sustainable future. "If you aim for quick results, you may choose to work alone. However, for enduring and lasting outcomes, collaboration is essential. Here at BuildHub, we are committed to building a future that stands the test of time, together," he said.

 

 

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