At least 17 housing projects are currently underway as part of the Philippine government’s “Pambansang Pabahay” program. These projects aim to provide shelter to thousands of informal settler families and low-income earners throughout the country. The Department of Human Settlements and Urban Development (DHSUD) has been actively involved in overseeing the development of these projects.
One of the notable projects under the program is the Asenso Yuhum Residences in Bacolod City, which is set to provide 300 housing units. Secretary Jose Rizalino Acuzar of the DHSUD has announced that these units will soon be turned over to the beneficiaries. Secretary Acuzar expressed his confidence that 2024 will be a milestone year for the “Pambansang Pabahay” program, as the fruits of their labor are starting to materialize.
Secretary Acuzar also acknowledged the support of President Marcos Jr. in the implementation of the program. He mentioned that the Home Development Mutual Fund, also known as the Pag-IBIG Fund, has approved a revolving credit line of around P13 billion to support the government’s housing initiatives. This credit line will provide financial assistance for the construction of housing units.
Recently, the Pag-IBIG Fund Board, chaired by Secretary Acuzar, approved a P12 billion revolving credit line for the National Housing Authority (NHA) and a P929 million revolving credit line for the Social Housing Finance Corporation (SHFC). These credit lines will enable the NHA and SHFC to develop and construct more than 11,000 housing units. Secretary Acuzar emphasized that these approved credit lines will not only sustain the positive momentum of the “Pambansang Pabahay” program but also boost private sector confidence.
In the first eleven months of 2023, the DHSUD issued licenses to sell (LS) for 642 projects, consisting of 489 new licenses and 153 amended licenses. These projects encompass a total of 123,985 residential and 256,834 non-residential units. The issuance of LS ensures that these projects adhere to the prescribed standards, providing protection to homebuyers against unscrupulous developers and transactions.
To further safeguard buyers, the department registered 15,839 real estate dealers, brokers, and salespersons who are accredited sellers. This registration process ensures that buyers are dealing with legitimate and trustworthy sellers. Furthermore, the DHSUD has approved the Comprehensive Land Use Plans (CLUPs) of 754 local government units, contributing to effective urban development.
While leading the “Pambansang Pabahay” program, the DHSUD also fulfills its core mandates, which include policy formulation, environmental land use and urban planning, housing and real estate development regulations, homeowners and community developments, and providing technical advisory roles. The department actively monitors 24,571 registered homeowners’ associations, 224 federations, and 24 confederations.
The progress made in the “Pambansang Pabahay” program signifies the government’s commitment to providing affordable housing to those in need. With the support of various stakeholders, including financial institutions, developers, and contractors, the program is expected to gain even more traction in the coming years. The DHSUD remains dedicated to its mission of ensuring sustainable and inclusive housing and urban development across the Philippines.
Source: The Manila Times