Government halves number of low-cost housing units it aims to build by 2028

Katrina Domingo

ABS-CBN News

<div><span dir="ltr" id="isPasted"></span></div><div><span class="fr-img-caption fr-fic fr-dib" style="width:950px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/172041993728820240112-marcos-housing-cavite-PPA-.jpg" style="width:950px" class="fr-fic fr-dib"/><span class="fr-inner" spellcheck="false" style="text-align:left">President Ferdinand Marcos Jr. led the groundbreaking ceremony of the Ciudad Kaunlaran Project Phase II and the turnover of the 360 housing units under the Phase I project on January 12, 2024, in Bacoor, Cavite. <em>KJ Rosales, PPA pool/File</em></span></span></span></div><p>MANILA — The Department of Human Settlements and Urban Development (DHSUD) on Monday said that it is cutting by half the number of low-cost housing units it is targeting to build by 2028 because of delays, including in getting financing for housing developments.</p><p>“Dati 6 million [units], e hindi matatapos yung 3 million,” DHSUD Secretary Jose Rizalino Acuzar told state television PTV.</p><p>(It was 6 million units before, but we cannot finish some 3 million units.)</p><p>Among the challenges DHSUD is facing is the long processing times — around 9-12 months — for bank loans to housing developers.</p><div><a href="https://news.abs-cbn.com/news/2024/3/26/affordable-housing-still-out-of-reach-for-many-pcup-1644">READ: Affordable housing still out of reach for many —commission on urban poor<br/></a></div><p> “Kaya, pero matagal. Siyempre pag pumunta ka sa bangko, hahanapan ka ng documentation,” he said.</p><p>(It can be done, but it takes a long time. Of course, if you go to the bank, they will ask you for documentation.)</p><p>He said that the delays in funding have meant that only 140,000 units of the 1 million a year that the Marcos Jr. administration originally promised have been built.</p><p>The administration is looking at a new scheme where the government would borrow the loans and serve as the developer, Acuzar, a real estate developer before joining government, said.</p><p>“Instead na private, si gobyerno na kasi si gobyerno puwede mangutang… government-to-government so medyo madali,” he said.</p><p>(Instead of private contractors borrowing from banks, the government will be the one to take out the loans… It will be easier because we can do transactions between government offices.)</p><div> <a href="https://news.abs-cbn.com/lifestyle/2024/6/19/how-bamboo-reshapes-the-concept-of-resilient-housing-2153" id="isPasted">READ: How bamboo reshapes the concept of resilient housing</a></div><p>In 2022, the DHSUD committed to building 1 million housing units annually to address the Philippines’ 6.5-million backlog in residential spaces.</p><p> In 2023, President Ferdinand Marcos Jr. reiterated that promise, noting that his administration is working to construct 1.2 million housing units by the end of that year.</p><div><strong>RELATED VIDEO</strong></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/qg2thCNvixw?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>

<p>The Department of Human Settlements and Urban Development said it is only targeting to build 3 million low-cost housing units by 2028 instead of its original 6-million unit target at the start of the Marcos administration.</p>

The Department of Human Settlements and Urban Development said it is only targeting to build 3 million low-cost housing units by 2028 instead of its original 6-million unit target at the start of the Marcos administration.

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Government halves number of low-cost housing units it aims to build by 2028

Government halves number of low-cost housing units it aims to build by 2028

Katrina Domingo,

ABS-CBN News

Published Jul 08, 2024 03:18 PM PHT

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Jose Rizalino Acuzar

Department of Human Settlements and Urban Development

DHSUD

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