The government's goal of addressing the more than six million backlog in housing is a good opportunity for the real estate sector to recover following the adverse effects of the Covid-19 pandemic to the economy, the Department of Human Settlements and Urban Development (DHSUD) said on Wednesday, Sept. 28.
The housing and real estate sector was among the industries adversely affected by the COVID-19 pandemic as community quarantine and other restrictions slowed down the construction and other development projects.
In separate meetings with real estate developers, DHSUD Sec. Jose Rizalino Acuzar explained that priority housing program is not only designed to address the housing backlog but equally important is tapping the huge economic pump-priming potential of the housing industry.
“We want everybody happy –the government, the private sector and, of course, our home buyers and housing beneficiaries. We balanced everything in this program...but we welcome inputs from our stakeholders to further improve what we have conceived, especially the private sector,” said Acuzar.
“This program will be a big market for private developers as we will be building one million housing units a year in the next six years...this will trigger much-needed economic activities in the sector and propel its recovery from the adverse effects of the pandemic,” he added.
Earlier, the DHSUD chief also met with the officials and members of the National Real Estate Association (NREA) Inc. In the past weeks, Acuzar also met with various stakeholders to come up with the best strategies in fastracking the development of townships and the onsite, in-city housing units not only for informal settlers but also for middle class.
In explaining how the real estate sector could take advantage of the planned aggressive housing program, Acuzar said the important aspect is the commitment of support from real estate developers and other stakeholders that include the local government units.
Currently, the housing backlog is at 6.5 million and Acuzar said the government could build more than 10 million if the government continues to do the same approach.
Subdivision and Housing Developers Association (SHDA), Inc., Chairman George Siy its president, May Rodriguez, expressed full support to the program.
“Everyone is excited...we will await the mechanics,” said Siy.
For his part, Organization of Socialized Housing Developers of the Philippines (OSHDP) Chairman Marcelino Mendoza and President Gino Olivares vowed support to the program.