BuildMart PH Technologies, Inc., a B2B e-commerce platform that connects manufacturers with hardware stores, has invested an undisclosed amount to Hubware Corporation, a leading online marketplace for builders, hardware stores, and construction suppliers, through the launch of “BuildHub.ph,” an online platform serving as a centralized system for the construction industry.
The investment was officially announced on April 4, 2024, at the Atrium, Enderun Colleges, McKinley, Taguig, celebrated under the banner “Building the Future Together.”
Notable guests and speakers at the launch were introduced by Duane Young, Chief Operating Officer of BuildHub.ph; John Richard Sotelo from Robinson’s Land Corp; Engineer Edward Paul Apigo of the Department of Science and Technology – Philippine Council for Industry, Energy and Emerging Technology Research and Development (DOST-PCIEERD); Reginald Yu Jr. of the Philippine Paint + Coatings Association, Inc.; Raul Quisimbing of Global Port Terminals; Noel M. Cariño of the Chamber of Real Estate; and Director represervatives of Undersecretary Lyle Pasco of the Department of Human Settlements and Urban Development, Director Ryan Jaen and Director Norman Doral.
This strategic investment enables Hubware to initiate the development of a holistic digital construction ecosystem in the Philippines, spearheaded by its key platform, BuildHub.ph. 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.
BuildHub.ph will introduce several groundbreaking products, including BuildCredit, a dedicated financing facility offering Builders and Hubware stores with competitive interest rates between 1%-3% for terms of 30-60 days. This initiative is designed to support the growth of hardware stores and builders. Additionally, the marketplace will benefit from BuildmartShipping, 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 22,000 bags.
The launch of BuildHub.ph marks a pivotal advancement in addressing construction industry challenges, such as manual transactions, limited payment options, and extended delivery times.
Andre Bernardo, co-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.”
Hubware Corporation, established in 2018, 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,” said Marika Laciste, Chief Business Officer of BuildHub.ph.
BuildMart PH Technologies Inc. has been a stalwart in supplying premium building materials at competitive prices. Leveraging its extensive network and assets within the construction industry, the company continues to make significant strides in providing quality products to its clients.
Bernardo, envisions the partnership as a strategy aligned to a successful business model. He explained, “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.”
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.”
Engr. Edward Paul Apigo of DOST-PCIEERD, meanwhile, reiterated their dedication to supporting the construction industry within the startup community. “We have also implemented our startup development program with the aim of fostering 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.”
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% to 40% dedicated to construction supplies and materials.
Looking ahead, BuildHub.ph sets ambitious goals to decuple its user base in 2024, achieve a gross merchandise value of Php1 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 in Mindanao in September 2024, marking a significant contribution to the industry’s future.
