As the conflict in the Middle East rages and threatens to ripple through global markets, the Department of Human Settlements and Urban Development (DHSUD) is moving to shield the domestic housing sector from potential economic aftershocks.

Human Settlements Secretary Jose Ramon Aliling said the agency will hold dialogues with private developers to craft measures to cushion the war’s effects on the housing industry.

The consultations aim to ensure that proactive safeguards are in place to blunt the impact of the global uncertainty and to sustain the momentum of the government housing initiatives, particularly President Ferdinand R. Marcos Jr.’s flagship Pambansang Pabahay para sa Pilipino program.

Balanced interest

Aliling said the effort is about striking a careful balance: addressing the concerns of property developers while safeguarding the interests of homebuyers as geopolitical tensions cast a long shadow over the economy.

Invited to the dialogues are the Subdivision and Housing Developers Association Inc., Organization of Socialized and Economic Housing Developers of the Philippines, and the Chamber of Real Estate and Builders Association.

“In line with the directive of President Marcos Jr., we aim to strike a balance between addressing the concerns of developers and protecting the rights of homebuyers in accordance with the law,” Aliling said.

“We also want to ensure that the housing and real estate sector is prepared for potential economic impacts. That is why, as early as now, we are aligning our efforts with our private partners. It is important that we put in place proactive measures before the conflict worsens or drags on further,” he said.

The impact of the Middle East crisis is already evident in the rising fuel prices, which is projected to get worse as the war drags on.

“That is why adequate preparation is essential, along with close cooperation between the government and the private sector, to prevent wider repercussions on the housing sector,” the housing chief said.