NHA to Oversee Construction of Housing Units, Says Acuzar

-


MANILA, Philippines - Human Settlements and Urban Development Secretary Jose Rizalino Acuzar announced on Wednesday that the National Housing Authority (NHA) and the Social Housing Finance Corporation (SHFC) will take charge of the construction services for the Pambansang Pabahay para sa Pilipino (4PH) program.


During a briefing in Malacañang, Acuzar explained that this initiative aims to cut costs associated with hiring developers and reduce the extent of sovereign guarantees. “Once a housing loan is approved, it will be processed through the SHFC and NHA, eliminating the need for developers. This approach is more economical as we will not incur developers' profits,” he stated.


He emphasized that this system benefits not only the housing beneficiaries but also the government, which will serve as both developer and contractor. “We will deal directly with the contractors, and that’s where we will seek the guarantees,” Acuzar added.


The SHFC and NHA will also handle in-house planning for smaller projects, focusing on creating standard designs, while private designers will be engaged for larger developments. 


Acuzar further elaborated, “The choice of designers will depend on the project size. For smaller projects, we will design in-house to ensure uniformity, with only the façade varying to avoid a monotonous appearance.”


“Our goal is to reduce costs to make housing affordable for the poor. If we can't lower expenses, the underprivileged will struggle to afford homes. There’s a significant gap in the real estate sector, making it difficult for the poor to keep up,” he noted.


Originally, the DHSUD aimed to construct 6 million housing units by 2028, but now it anticipates completing only 1.2 million by the end of the Marcos administration. However, the sovereign guarantee could potentially expand to P4 trillion if the agency manages to deliver an additional 3.2 million units within the next four years.


A sovereign guarantee refers to the government's commitment to release funds for low-cost housing loans, encouraging private banks and institutions to participate. President Ferdinand Marcos Jr. recently approved this scheme, and Acuzar expressed optimism that it would significantly impact efforts to combat homelessness in the country.


“This guarantee is a testament to our President's dedication to improving the lives of Filipinos by providing decent and affordable housing through a whole-of-nation approach,” he concluded.



Read: Senator Dela Rosa Advocates for Learning from Colombia's Drug War



Follow us on Facebook: The EpicNews

Comments

Post a Comment

Popular posts from this blog

Philippines Conducts Joint Patrols with US, Canada, and Australia

-
Image
MANILA, Philippines — The Philippines commenced two days of joint maritime and aerial exercises with the United States, Canada, and Australia on Wednesday, as outlined in a joint statement, amid ongoing territorial disputes in the South China Sea with China. These operations, taking place "within the Philippine Exclusive Economic Zone," aim to demonstrate the collective commitment of the four nations to enhance regional and international cooperation in support of a free and open Indo-Pacific. The exercises come at a time when China's aggressive posturing towards Taiwan and its claims over the South China Sea have raised concerns about a potential conflict that could involve the United States. China asserts sovereignty over the majority of the South China Sea, disregarding an international tribunal ruling that deemed its claims unfounded.  Last week, the Philippines conducted separate naval drills in the South China Sea, first with the United States and then with Japan tw
Read more

Philippines Ranks 32nd as of Today, in Paris Olympics Medal Standings 2024

-
Image
MANILA , Philippines —  The Philippines currently holds the 32nd spot in the medal standings at the 2024 Paris Olympics. This ranking comes after Carlos Yulo's impressive gold medal win in the men's floor exercise, marking a significant achievement for Team Philippines. Carlos Yulo's Historic Victory Carlos Yulo’s victory in the men’s floor exercise has brought immense pride to the nation, making him the first Filipino gymnast to win an Olympic gold medal. His performance has not only secured a prestigious spot in the Olympic history books but also elevated the Philippines' position in the overall standings. Ongoing Competitions Filipino athletes continue to compete in various events, with hopes of adding more medals to the country’s tally. EJ Obiena, currently ranked as the world’s No. 2 pole vaulter, is set to compete in the finals, presenting another opportunity for a podium finish. Additionally, boxers Aira Villegas and Nesthy Petecio are still in the running for m
Read more

Carlos Yulo to get millions and counting - worth of incentives after gold medal win

-
Image
Carlos Yulo is poised to receive significant rewards following his groundbreaking gold medal win in the men's floor exercise at the Paris 2024 Olympics. Yulo's victory marks him as the second Filipino athlete to secure an Olympic gold, following weightlifter Hidilyn Diaz , who achieved this milestone during the Tokyo 2020 Games. The 24-year-old gymnast’s life is set to change dramatically, as he will be granted a cash incentive of ₱10 million  from the Philippine Sports Commission, in line with Republic Act 10699, which outlines benefits for national athletes and coaches. In addition to the monetary reward, Yulo will also receive a  fully-furnished two-bedroom condo  worth ₱24 million  in McKinley Hill, courtesy of Megaworld. The President of the Philippine Olympic Committee, Bambol Tolentino, has promised to provide Yulo with a house and lot, similar to the rewards previously given to Diaz and other medalists from the Tokyo Olympics, including silver medalists Nesthy Petecio
Read more