Marcos eyes P1-B starting fund for housing subsidy

President Ferdinand “Bongbong” Marcos, Jr. (Photo from Bongbong Marcos Facebook page)

PRESIDENT Ferdinand R. Marcos Jr. is eyeing an initial P1-billion budget to jumpstart the proposed housing subsidy program of the Department of Human Settlements and Urban Development (DHSUD).

Marcos made the announcement while asking Congress to provide regular funding support for the housing goals of his administration.

“Once we find the finding source for it, we will probably allocate an initial 1 billion [pesos] to provide subsidy to our new tenants,” Marcos said at the groundbreaking ceremony of the Pambansang Pabahay Para sa Pilipino Housing (4PH) Project in Quezon City last Tuesday.

Last year, DHSUD Secretary Jose L. Acuzar said they have asked lawmakers for a P36-billion allocation for subsidies to be coursed through banks to help reduce the monthly payments of home buyers.

The initiative is part of DHSUD’s comprehensive plan to construct 6 million “decent and affordable” housing units by 2028.

The housing projects will be located in urban cities and are expected to reduce the number of informal settlers nationwide.

Marcos assured the projects will be “sustainable human settlements,” wherein residents will not only have “sturdy homes” but also access to amenities such as schools, markets, hospitals, economic opportunities, government services, and social activities.

DHSUD has started implementing the project in Cauayan, Isabela, and in Barangay Batasan Hills in Quezon City.

The housing project in Batasan Hills involves two high-rise buildings with more than 2,100 units to be given to the families of Batasan Tricycle Operators and Drivers’ Association members and informal settler families in Quezon City.

“With all of these things said, we are still left with the fact that many of our beneficiaries would still not be able to afford the monthly amortization of these units,” Marcos said.

“So the government is committed to secure the needed housing interest support for 2023,” he added.

Among the government officials present at the groundbreaking in Batasan Hills were Acuzar, House Speaker Martin G. Romualdez, Presidential son and Ilocos Norte 1st Representative Ferdinand Alexander “Sandro” A. Marcos III, Quezon City 2nd District Representative Ralph Wendel P. Tulfo and  Quezon City Mayor Josefina “Joy” G. Belmonte.


Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Article

PHL must ‘restart’ talks with Washington on GSP–envoy

Next Article

2023 growth not seen to breach 6%

Related Posts

Read more

Senators caution vs rushing DBP-LBP union

THE Marcos administration was reminded to “proceed cautiously and prudently” in contemplating the merger of the Land Bank of the Philippines (LandBank) and Development Bank of the Philippines (DBP),  seen to create, if implemented, the largest bank in the Philippines.