The Department of Human Settlements and Urban Development (DHSUD) is set for a strong finish this year as it expressed optimism in the coming year, particularly in the implementation of President Marcos’ Pambansang Pabahay para sa Pilipino (4PH) Program.
DHSUD Secretary Jose Rizalino Acuzar cited the P13 billion revolving credit lines recently approved by the Home Development Mutual Fund or Pag-IBIG Fund.
Earlier this month, the Pag-IBIG Fund Board, chaired by Secretary Acuzar, approved the P12 billion and P929 million revolving credit lines for the National Housing Authority (NHA) and the Social Housing Finance Corp. (SHFC), respectively.
The credit lines would allow the development and construction of more than 11,000 housing units by the NHA and SHFC as part of the 4PH program.
“This (approved credit lines) will not only sustain the positive momentum we have gained in the nationwide implementation of Pambansang Pabahay, but equally important, it will further bolster private sector confidence,” Acuzar said.
So far, 17 projects under the flagship “Pambansang Pabahay” are currently in various stages of development and construction throughout the country.
About 300 units at the Asenso Yuhum Residences in Bacolod City, headed by Mayor Albee Benitez, are set for turnover. More units are expected for delivery in the coming months.
“I am confident that 2024 will be a milestone year for our President’s Pambansang Pabahay. Slowly but surely, we are now reaping the fruits of our labor,” Acuzar also said.
Marcos’ issuance of Executive Orders 34 and 35 provided a huge push to DHSUD’s pursuit of its mandate, particularly on the provision of sustainable housing, human settlements and urban development.
The President issued the EOs in fulfillment of his commitment not only to 4PH program but, more importantly, to the overall development of the sector, putting premium on the welfare of the poorest of the poor.
The EO 34 declared the “Pambansang Pabahay” as the flagship program of the government and directed all government agencies and instrumentalities, including government owned and controlled corporations to submit their inventory of available lands while EO 35 created the Inter-agency Council for the Pasig River Urban Development (IAC-PRUD), also headed by DHSUD.
On top of leading the “Pambansang Pabahay,” DHSUD continuously performs its core mandates which include policy formulations, environmental land use and urban planning and development, housing and real estate development regulations, homeowners and community developments, and technical advisory roles.
From January to November 2023, the DHSUD has issued license to sell (LS) to 642 projects, comprising 489 new and 153 amended licenses.
This equates to 123,985 residential and 256,834 non-residential units. The issuance of LS protects homebuyers from unscrupulous developers and transactions since the LS requires these projects to conform to the prescribed standards.
In addition, 15,839 real estate dealers, brokers and/or salespersons were registered to ensure buyers’ protection with accredited sellers.
On urban development, the Department reported a cumulative data of 754 local government units with approved Comprehensive Land Use Plans (CLUP) for sustainable and resilient human settlements. It also reviewed 108 CLUPs, Provincial Physical Framework Plans and Zoning Ordinances for compliance with land use and urban planning guidelines.
Meanwhile, 24,571 registered homeowners’ associations, 224 federations and 24 confederations are being monitored around the country as of October 2023.
If you like this article, share it on social media by clicking any of the icons below.
Or in case you haven’t subscribed yet to our newsletter, please click SUBSCRIBE so you won’t miss the daily real estate news updates delivered right to your Inbox.
The article was originally published in The Philippine Star – Property Report PH.
About Post Author
More Stories
Agriculture losses due to El Niño hit P4B
Megawide bags 5th Landers construction contract
FLI enters co-working space joint venture