State cover seen propelling 4PH
Under the Palace directive, sovereign guarantees will be provided to the National Housing Authority and the Social Housing Finance Corp. in their programs.
Daily TribuneUnder the Palace directive, sovereign guarantees will be provided to the National Housing Authority and the Social Housing Finance Corp. in their programs.
Photo from Bongbong Marcos | FB
The government’s housing program will cover a wider portion of the population deprived of homes after President Ferdinand Marcos Jr. approved the granting of sovereign guarantees on projects that will remove the need for developers.
The state guarantee paves the way for the faster construction of housing projects under the Pambansang Pabahay para sa Pilipino (4PH) while making housing units more affordable.
This is how Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Rizalino Acuzar and Undersecretaries Avelino Tolentino III and Gary De Guzman viewed the President’s move during a recent press briefing in Malacañang.
Under the Palace directive, sovereign guarantees will be provided to the National Housing Authority (NHA) and the Social Housing Finance Corp. (SHFC) in their programs.
The government becomes more empowered in taking over the role of developers through direct contracting of construction services.
Acquiring loans from government financial institutions (GFIs) and private banks becomes faster with the state’s financial backing.
With the sovereign guarantee, GFIs and private banks could be more receptive to loans for housing projects.
The key shelter agencies will utilize their in-house planning for smaller projects while outsourcing the services for bigger projects.
Shelters within reach
De Guzman emphasized that with the removal of developers in the contracting process, the price of “Pambansang Pabahay” housing units would become more affordable.
De Guzman reiterated that the DHSUD would be firm in providing supplemental support to increase the property value of 4PH houses.
