DHSUD & Urban Development Secretary Jose Acuzar recently said that the government would provide P216 billion worth of interest subsidies for Filipinos who will be settlers of its six million housing project in the next six years. READ:
worth of interest subsidies for Filipinos who will be settlers of its six million housing project in the next six years.
He made the announcement at the Subdivision and Housing Developers Association’s 30th National Developers Convention in Taguig City. Acuzar introduced the ‘Pambansang Pabahay Para sa Pilipino Program,’ a directive from President Ferdinand Marcos Jr. that aims to construct 1 million housing units per year in select areas in the country to address the 6.5 million housing backlog and the two major bottlenecks of affordability and access to funds for housing.
“To build 1 million houses, we need P1 trillion because we need P1 million per housing unit,” said Acuzar. “But the government cannot afford that P1 trillion. To finance this, we need private money from banks as they are the ones who have that kind of money.”
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Tackling the housing backlogDHSUD & Urban Development Secretary Jose Acuzar recently said that the government would provide P216 billion worth of interest subsidies for Filipinos who will be settlers of its six million housing project in the next six years. READ:
Read more »