President Ferdinand "Bongbong" Marcos Jr. bared that he is planning to establish a subsidy fund for beneficiaries of the government's housing program.

President Marcos leads the groundbreaking ceremony of a housing project under the Pambansang Pabahay para sa Pilipino Program in Quezon City on Jan. 31, 2023. (Ali Vicoy)

The fund, Marcos said, would include P1-billion subsidy for housing tenants.

"inag-aaralan namin ni Secretary (Jose Rizalino) Acuzar ang pagtatayo ng subsidy fund para dito sa ating housing program (Secretary Acuzar and I are looking into establishing a subsidy fund for our housing program)," the President said in his speech at the groundbreaking ceremony of a housing project in Quezon City on Tuesday, Jan. 31.

"Siguro maglalagay tayo diyan, 'pag nakahanap tayo ng pera, mga P1 billion to start with para meron tayong subsidy na ibibigay para sa ating magiging tenant (If we could find money, we would put P1 billion there to start with so that we have a subsidy for our future tenants)," Marcos added.

The President pitched the idea during the groundbreaking ceremony of a housing project in Quezon City under the Pambansang Pabahay para sa Pilipino (4PH) Program.

At the same time, he also had a walkthrough of the Batasan Development Urban Renewal Plan at the Batasan Tricycle Operators and Drivers' Association (BaTODA) Terminal in Barangay Batasan Hills.

The Batasan Development Urban Renewal Master Plan, spearheaded by the Department of Human Settlements and Urban Development (DHSUD), will see the completion of three main sites: Batasan Road Development, NGC-West Controlled Economic Zone and the Manotoc Property.

The first phase of Batasan area’s redevelopment will include the construction of two 33-storey buildings with a total of 2,160 housing units planned to become both commercial and residential.

The plans include utilizing the lot’s ground floor for the improved Batasan TODA terminal, the biggest tricycle operators and drivers association in the Philippines. Its members shall be among the priority beneficiaries.

Meanwhile, the groundbreaking ceremony for the Cauayan City Housing Project in Cauayan City, Isabela also took place on Tuesday.

It aims to benefit 1,080 families through the construction of nine 5-storey buildings complete with recreational parks and other amenities.

The project site is located in Barangay Tagaran, less than four kilometers from the City center.

#P1 BILLION SUBSIDY

Marcos mulls P1-B subsidy fund for gov't housing tenants