SENATOR Ferdinand “Bongbong” Marcos, Jr., chairman of the Senate Committee on Urban Planning, Housing and Resettlement, is set to assure developers and realtors the enactment of government measures that would speed up housing and urban development in the country.
Marcos will give the assurance tomorrow, (Thursday, Oct. 18), as he will deliver a speech before the delegates to the 21st National Convention of the Chamber of Real Estate and Builders Association (CREBA) in Puerto Princesa City, Palawan.
In a statement, he noted that the government is currently investing heavily in the modernization of infrastructure and the approval of more public-private partnership projects (PPP).
He said that these PPP projects would impact positively on the real estate industry because they would open a wide door of opportunities for builders and realtors.
“As these projects spread into all the regions, economic growth should start to lift many more boats. It is in this light and with that objective in mind that we in the Senate, particularly our Senate Committee on Urban Planning, Housing and Resettlement, approach the task of shaping public policy and legislation to speed up housing and urban development in our country,” Marcos said.
Marcos said the government is anxious to have the right policy framework and strategies in ensuring the growth of the real estate industry and to come up with sustainable solutions to outstanding problems in the real estate sector.
He said some of the issues identified that should be addressed are:
• The creation of the Department of Housing and Urban Development
• The adoption of a National Inventory Settlement Policy and adoption of a resettlement plan
• The inclusion of a Resettlement Action Plan in major government projects
• The development of more rental housing for the lower income groups as a key to relieve the massive housing backlog
“Along with many of you in the private sector, we in the Senate Housing Committee believe that the creation of a full-fledged Department of Housing and Urban Development has become a strategic necessity. It is strategic for resolving the massive housing backlog in our country, which at last count, stood at millions of units,” Marcos stressed.
Senate Bill 3199, which aims to create a Department of Housing and Urban Development, was passed on third and final reading in the Senate on July 24.