The Department of Human Settlements and Urban Development (DHSUD) will hold dialogues with private developer groups to formulate measures aimed at mitigating the economic impact of the ongoing conflict in the Middle East on the country’s housing sector.
DHSUD Secretary Jose Ramon Aliling said the consultations seek to ensure proactive steps are in place to cushion potential economic effects while sustaining the momentum of government housing initiatives, particularly the flagship Pambansang Pabahay para sa Pilipino (4PH) Program of Ferdinand Marcos Jr.
Aliling said the discussions will also focus on balancing the department’s mandate of addressing the concerns of developers while safeguarding the interests of homebuyers in accordance with existing laws, amid uncertainties brought about by the conflict.
Invited to participate in the dialogue are the Subdivision and Housing Developers Association Inc. (SHDA), Organization of Socialized and Economic Housing Developers of the Philippines (OSHDP), and the Chamber of Real Estate and Builders Association (CREBA).
“Alinsunod sa direktiba ni Pangulong Marcos Jr., nais natin balansehin ang pag address sa concerns ng mga developers at ang pagpo-protekta sa ating mga homebuyers base sa itinatakda ng batas,” Aliling said.
“Nais din natin masiguro na handa ang housing and real estate sector sa epekto sa ekonomiya, kaya ngayon pa lamang ay magkakaroon na tayo ng alignment of efforts sa ating mga private partners. Importante na mailatag natin ang mga proactive measures na mabubuo bago pa man lumala o tumagal pa ang digmaan. Ito ay upang maibsan ang epekto sa ating ekonomiya,” he added.
The DHSUD chief noted that the effects of the Middle East crisis are already being felt locally through rising fuel prices, which could further affect the broader economy if the conflict drags on.
“Kaya sapat na paghahanda ang kailangan, at pagtutulungan ng gobyerno at pribadong sektor upang maiwasan natin mas malawak na epekto sa housing,” Aliling said.