PHINMA: Businesses play key role in solving Philippines' housing problem
Businesses play an integral role in the country’s multi-sectoral push to provide affordable homes for Filipinos amid the country’s massive housing backlog that affects millions of families.
“The private sector can influence policies and foster partnerships that make housing more accessible, particularly for low-income workers, through collaboration with the academe, government agencies, and civil society,” PHINMA Community Housing (CoHo) President and Chief Executive Officer (CEO) Luis Oquiñena said.
He emphasized the importance of adopting a “street-level” view for property developers to better understand the aspirations, lifestyles, and limitations of the marginalized families and communities they aim to serve.
“It’s not just about building houses–it’s about creating homes these families can call their own,” said Oquiñena during a policy forum organized by PHINMA CoHo to foster a dialogue among representatives from the public, private, and development sectors.
He noted that, “At the heart of this is really the community… building the community that will support the needs and the lifestyle of the working family. This is how we want to build the heart of PHINMA Community Housing.”
At the policy front, Oquiñena also suggested improving access and financing for homes by making loan takeout easier for buyers; accelerating and modernizing housing development by streamlining permits; adopting sustainable low-cost technologies; and increasing government investment in affordable, climate-resilient housing.
Among Oquiñena’s fellow forum speakers were PHINMA Corp. Chairman and Chief Executive Officer (CEO) Ramon del Rosario Jr., who said the company hopes to address the “very pressing” need for affordable housing by building homes for the underserved markets.
“Business should also be a force for good. Our society is faced with so many problems, and so many of those problems can be better addressed if the business community puts its resources together… to try and address those issues.
“We’re trying to do that in education, and we’ve made some headway there, but today we would like to explore how we can do housing for the underserved in a meaningful way, and hopefully, in a scaled-up way,” said Del Rosario.
PHINMA CoHo will have its ceremonial groundbreaking and blessing on its first housing project in Davao City this month. The company aims to provide more than 500 families with row houses under this initiative.