• CHERYL G. CRUZ
Negros Occidental 3rd District Rep. Jose Francisco “Kiko” Benitez, chairperson of the House Committee on Housing and Urban Development, led the review of government issuances on the price ceilings of socialized housing projects.
The review aims to “encourage greater private sector participation in the government’s mass socialized housing projects for the poor and middle-income earners,” particularly the Pambansang Pabahay para sa Pilipino Housing (4PH) flagship program of the Marcos administration.
The committee tackled, among others, Joint Memorandum Circular 3-2023, or the Adjustment of the Price Ceiling for Socialized Subdivision and Condominium Projects set by the Department of Human Settlements and Urban Development (DHSUD) and the National Economic Development Authority.
Under the adjusted ceiling, socialized subdivision projects now cost not more than P850,000 from P580,000, with a minimum floor area of 28 square meters and a loft of at least 50 percent of the base structure, or 32 sqm, the DHSUD said.
Socialized condominium projects are now set at P933,320 for 22sqm; P1,060,591 for 25 sqm; and P1,145,438 for 27 sqm for a four-storey building.
For projects composed of five to nine-storeys, the pricing is P1 million for 22 sqm; P1,136,364 for 25 sqm; and P1,227,273 for 27sqm. For 10 floors and above projects, 22 sqm units cost P1,320,000; 25 sqm at P1,500,000; and 27 sqm at P1,620,000.
“The shift (in prices) is in line with the issuances of the current administration declaring the 4PH as a flagship program of the government, and then bringing in private sector and private financing into the mix,” DSHUD Undersecretary Avelino Tolentino III said during committee discussions.
He cited present economic conditions as the reason for the price hike.
“We are hoping that, with these amounts set, we will be able to attract private developers, private contractors for them to invest their financial and technical expertise into projects, and then later on be paid via take-out by government financial institutions, primarily the Pag-IBIG fund, which already set aside P250 billion for the expected take-outs,” Tolentino said.
In Bacolod, the city’s joint venture agreements with contractors of its Yuhum housing projects underwent several amendments due to changes in pricing.
The completion of the initial four units in the Yuhum Residences in Barangay Vista Alegre is also being fast-tracked since Mayor Alfredo Benitez said these will be turned over to beneficiaries before the State of the Nation Address of Marcos this July.
The city had said the beneficiaries will be paying reduced monthly amortization of P2,300 over a period of 30 years. | CGC
