‘This will not only sustain the positive momentum we have gained in the nationwide implementation of Pambansang Pabahay, but equally important, it will further bolster private sector confidence’
Since its launch in September 2022, the flagship Pambansang Pabahay para sa Pilipino (4PH) has rolled out 17 projects which are in various stages of development and construction throughout the country.
DHSUD Secretary Jose Rizalino Acuzar expressed confidence 2024 will be a milestone year for the 4PH program.
The program got a boost with the approval late last year by the Home Development Mutual Fund or Pag-IBIG Fund of a P13- billion revolving credit line for the National Housing Authority (NHA) and the Social Housing Finance Corp.(SHFC).
The credit lines would allow the development and construction of more than 11,000 housing units by the NHA and SHFC in attainment of the 4PH program.
“This (approved credit lines) will not only sustain the positive momentum we have gained in the nationwide implementation of Pambansang Pabahay, but equally important, it will further bolster private sector confidence,” said Acuzar who also chairs the Pag-IBIG Fund board.
“We expect more private partners, especially financial institutions, developers and contractors to actively participate in the program this coming year,” Acuzar said.
Private sector groups Subdivision and Housing Developers Association Inc. (SHDA) and the Chamber of Real Estate Buliders Association (CREBA) are fully supportive of the program, committing to work closely with government and other organizations in providing Filipinos access to affordable and quality housing.
According to Arlene Keh, SHDA chairman, meeting the young working middle-class needs and addressing challenges with immediate intervention will highlight the roadmap of the group until 2030.
Keh also noted the importance of tackling climate change and embracing disruptive technologies for improved construction and project management.
“These solutions (are) aimed at helping the government bridge this [supply and demand] gap and serve as a guide for both the government and the private sector in the pursuit of strategies, policies, and overall growth and development in the housing industry,” Keh said in a statement.
SHDA also aims to assist a substantial number of overseas Filipino workers (OFWs) in owning homes in the Philippines, utilizing online platforms and exhibitions to showcase available housing units and products.
Keh stressed SHDA’s active involvement in promoting sustainability and inclusivity in housing.
The Chamber of the Real Estate and Builders’ Association Inc. (CREBA), on the other hand , finds that it must also concern itself not just with the economic aspect but also the social and political framework to which the housing industry is inseparably linked.
Elsie Chua, CREBA executive vice-president, in a statement emphasized the group’s commitment to spearhead sustainable development initiatives and advocate for policies that will support the government’s aims to deliver more housing units through affordable home financing particularly for the OFWs.
Under its 20-year “a home for every Filipino” program, CREBA envisions to intensify housing production nationwide to at least 500,000 units per year through a chain of policy and legislative reforms on shelter finance, land access as well as homebuyer and investor-friendly regulations.
