Manila: The Department of Human Settlements and Urban Development (DHSUD) has granted developers a maximum 36-month deferment period to comply with balanced housing requirements, a move aimed at cushioning the local housing sector from the economic impact of the Middle East crisis.
According to Philippines News Agency, the DHSUD announced that Secretary Jose Ramon Aliling approved the request from the Subdivision and Housing Developers Association (SHDA) and the Organization of Socialized Housing Developers of the Philippines (OSHDP) concerning compliance modes and timeframes for the Balanced Housing Development Program (BHDP). Aliling added six months to the 30-month extension originally requested by the developers' groups for projects with an approved duration of 30 months or more.
Aliling stated, "Patunay po ito na sa ilalim ng Bagong Pilipinas ni Pangulong Ferdinand R. Marcos Jr., may gobyernong nakikinig at nagmamalasakit para sa kapakanan ng lahat," highlighting the government's attentiveness to the welfare of its citizens under President Ferdinand R. Marcos Jr.'s administration. He added, "Positibong resulta din ito sa open door policy natin sa DHSUD kung saan bukas po tayo sa dialogo para sa lahat ng stakeholders."
The BHDP, as outlined by Republic Act 7279 and amended by RA 10884, mandates developers of proposed subdivisions and condominium projects to contribute to socialized housing. Under the 36-month deferment, developers can choose between incentivized compliance or direct participation in socialized housing projects as required by law.
Aliling emphasized that the extension significantly benefits partner-developers as they continue to advocate for decent and affordable housing under the administration's Expanded Pambansang Pabahay para sa Pilipino (4PH) Program. He reaffirmed the DHSUD's commitment to maintaining an open-door policy for all housing stakeholders, aiming to refine regulations and ensure more Filipinos can achieve homeownership, particularly during times of crisis.
The policy adjustment intends to provide developers with the necessary fiscal breathing room to sustain ongoing projects amid global economic volatility.
