News Release

PBBM housing thrust to boost PH economy, address housing gap

President Ferdinand R. Marcos Jr. expects the government’s ambitious housing programs and projects to create positive impact on the national economy.

The Chief Executive also said the national housing thrust must be sustained to address the country’s shelter gap.

President Marcos met with officials of the Department of Human Settlements and Urban Development (DHSUD), National Economic and Development Authority (NEDA), and other concerned agencies at the Malacañan Palace.

During the meeting, the DHSUD reported the latest updates on government housing programs while the NEDA presented an assessment of the subject matter, including issues and recommendations.

“Even the effect on the economy is going to be terrific pag nagawa natin ito. Magandang effect talaga sa ekonomiya. And that’s why it’s necessary. We have to do this. We have to find a way to do this. We have to be a little creative. Hindi ito standard na ginagawa,” President Marcos said.

DHSUD made several requests on the Pambansang Pabahay Para sa Pilipino (4PH) Program such as the issuance of a funding guarantee. The guarantee aims to increase the confidence of government financial institutions in supporting the program and attract participation of private banks and institutions.

It also wants to certify the 4PH Bill as urgent and as priority legislation included in the President’s upcoming State of the Nation Address (Sona) next month, as well as ensure budget allocation for support facilities like basketball courts and parks.

As to the sovereign guarantee being requested to implement housing projects, the President wants agencies to come up with the numbers to assess the risks.

“Let’s generate those numbers and see what really in terms of real-world cost is going to be — what is the condition really of the market, how easy or how hard is it going to be to turn — for our guarantee to turn these things around. For the interest subsidy,” he said.

“Sige as soon as you can para ma-desisyunan na natin ‘to. But we’re going to — everybody has to work together on this so that you can agree on the numbers. So, we have working numbers that we have confidence in. Hindi ‘yung arbitrary that we just grab the number out of the air. It has to be based on the historical experience in the housing industry,” he further stated. PND