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GSIS in talks with housing sector for "creation of new cities', decongestion of metropolis

Philippines | National

GSIS in talks with housing sector for "creation of new cities', decongestion of metropolis

By Luisa K. Cabato

The Government Service Insurance System (GSIS) and the Department of Human Settlements and Urban Development (DHSUD) officials met on Monday, Sept. 19, to discuss a possible partnership that will support the government's mass housing program.

Government Service Insurance System (FACEBOOK)

This collaboration will also target to "decongest the metropolis" by creating new cities, said GSIS in a Facebook post.

DHSUD Secretary Jose Rizalino Acuzar presented the department's plans for "faster housing production and mobilizing the housing sector’s economic pump-priming potentials," with GSIS President and General Manager Wick Veloso during the meeting.

Veloso, on the other hand, assured the DHSUD secretary that the state-run pension fund will do its part in promoting the country's economic development by aligning its "investment policy with the ‘build better more' infrastructure program of the government."

"This will help grow our funds for the benefit of our members," he continued.

He also said that the agency is ready to "address the two main challenges in the housing sector — affordability and access to funds."

DHSUD is the main housing authority in the country which consolidates the duties of the Housing and Urban Development Coordinating Council and the Housing and Land Use Regulatory Board.

It was founded on February 14, 2019, pursuant to the Republic Act No. 11201 signed by former President Duterte.

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