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Manila Bulletin devider Philippines devider National devider Acuzar: Expect faster, cheaper construction of gov't housing projects

Acuzar: Expect faster, cheaper construction of gov't housing projects

Published Aug 9, 2024 07:49 am
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(File photo: Department of Human Settlements and Urban Development)

The construction of housing projects under the Pambansang Pabahay Para sa Pilipino (4PH) Program will now be expedited and more affordable, Department of Human Settlements and Urban Development (DHSUD) Sec. Jose Rizalino Acuzar said on Friday, Aug. 9.

This, after President Ferdinand “Bongbong” R. Marcos Jr. approved a sovereign guarantee that will cut expenses and speed up the development of the national government’s housing projects under the 4PH.

In a statement, Acuzar said that the guarantee will allow the National Housing Authority (NHA) and the Social Housing Finance Corporation (SHFC) to directly oversee construction services.

He said removing the involvement of developers from the process is expected to eliminate additional costs and streamline loan procurement from both government and private banks.

“Kapag inulit po ang dating sistema na ang contractor ang hahanap ng pondo at sila ang hihiram, tatagal na naman po ‘yan kaya naisipan po namin na instead na sila ang pautangin bakit hindi na lang ang gobyerno ang mangutang at humingi ng guarantee (When the old system was used where the contractor would find the funds and borrow them, it would take a long time again. That's why we thought, instead of lending to them, why not have the government borrow and ask for a guarantee?),” Acuzar said.

“Ang mangyayari po kapag napahiram na, ang magpapakontrata ay NHA and SHFC...makakatipid po tayo dahil wala ng developer’s profit. Sa ginawa ng gobyerno natin…ang developer na ay ang gobyerno (When the loan is granted, the NHA and SHFC will handle the contract. We will save money because there will be no developer's profit. With this approach by our government, the developer will be the government itself),” he added.

The new strategy is anticipated to encourage financial institutions to more readily approve loans for 4PH projects.

With developers excluded, the NHA and SHFC will handle planning internally for smaller projects and outsource for larger ones, which is expected to make housing units more affordable, Acuzar said.

Meanwhile, DHSUD Undersecretary Gary De Guzman noted that the strategy will lead to substantial cost savings, making housing units more budget-friendly.

He added that DHSUD is committed to maintain property values, which serve as collateral for loans, through the establishment of an estate management council under its supervision.

DHSUD Usec. Avelino Tolentino III pointed out that sustained funding for estate management and maintenance will help preserve or even increase the value of 4PH properties.

Related Tags

4PH Housing project DHSUD
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