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Manila Bulletin devider Philippines devider National devider Acuzar: More private developers commit to invest in housing; goal to solve 6.5-M housing backlog on-track

Acuzar: More private developers commit to invest in housing; goal to solve 6.5-M housing backlog on-track

Published Jun 16, 2024 04:25 am

The goal of addressing the 6.5 million backlog in housing before the end of President Marcos’ term is on the right track as more private contractors and developers have committed to invest in mass housing, the Department of Human Settlements and Urban Development (DHSUD) disclosed on Sunday, June 16.

Currently, DHSUD Secretary Jose Rizalino Acuzar said there are around 40 projects, mostly composed of high-rise condominium-type buildings, in various stages of development and construction throughout the country.

“Now that more private partners have signified interest to invest, I am confident that our housing projects will continue as planned. The active participation of private contractors and developers serves as the key to address the backlog on housing,” said Acuzar.

The mass housing are particularly intended for informal settler families (ISFs) and low-income earners.

The DHSUD is prioritizing the in-city, on site mass housing with the help of local government units.

Recently, President Marcos has issued an executive order that compels government agencies to identify government lands that could be used for mass housing.

Acuzar, meanwhile, attributed the growing interest of private contractors and developers to the mass housing to the continuing releases of developmental loans by Pag-IBIG Fund.

So far as of May 24, Pag-IBIG Fund has released a total of P761 million to private contractors implementing 4PH projects in Nueva Ecija, Bulacan, Ilocos Norte and Bacolod City.

Pag-IBIG Fund, headed by Chief Executive Officer Marilene Acosta, has committed P250 billion to the "Pambansang Pabahay."

Among the latest private contractors to join 4PH was Megawide Construction Corp., whose real estate arm PH1 World Developers was tapped by the Imus City local government as partner in the implementation of its 4PH project recently launched in Barangay Malagasang 1-G.

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