Acuzar: Housing initiative gaining steam

Housing Sec. Jose Rizalino Acuzar —photo from DHSUD FB page

MANILA, Philippines — The Department of Human Settlements and Urban Development (DHSUD) said on Sunday that President Ferdinand Marcos Jr.’s affordable housing initiative, the Pambansang Pabahay para sa Pilipino (4PH) Program, is rapidly gaining steam with rising private sector participation.

According to Housing and Urban Development Secretary Jose Rizalino Acuzar, around 40 projects consisting mostly of high-rise condominium buildings are currently underway across the country.

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He attributed this progress to the “increasing interest” from private contractors and developers.

“Now that our private partners are increasing, I am confident that our projects will continue and even multiply,” Acuzar said.

The DHSUD said that a key driver of this private sector engagement is the Pag-Ibig Fund’s ongoing release of developmental loans for 4PH projects.

So far, the fund headed by Pag-Ibig CEO Marilene Acosta has disbursed P761 million to contractors in Nueva Ecija, Bulacan, Ilocos Norte, and Bacolod City. Pag-Ibig has committed P250 billion overall to support Pambansang Pabahay. —Russel Loreto