Land developer Federal Land, Inc., vows to make bigger strides with its socialized housing thrust in 2021.
“Times are simply becoming more difficult for many Filipinos, and we are supporting this program since Federal Land can be of help,” said Federal Land president Thomas Mirasol.
The country’s massive housing backlog continues to deprive Filipinos of affordable and decent dwellings. The latest data by the University of Asia and Pacific showed that the Philippines would need 12.3 million housing units by 2030. Of these 12.3 million units, 1.45 million need housing subsidies and 1.58 million more are for socialized housing from 2012–2030, according to the records of the Subdivision and Housing Developers Association, Inc. (SHDA).
The national government has been doing its part to improve housing policies and subsidy management, part of which is tapping the private sector. The Department of Human Settlements and Urban Development (DHSUD), the country’s central housing authority, requires developers to contribute to socialized housing programs where each developer is entitled to their own compliance mode.
Taking the bull by the horns
“The government’s action agenda for housing has never been more urgent than now, and we’ve taken it upon ourselves to advance our portion of socialized housing, Mirasol explained.”
For Federal Land, the updated policy, which requires 15% horizontal development and 5% vertical project contribution, has opened more opportunities for them to upgrade their participation.
Most of the company’s socialized housing projects are outside Metro Manila—such as Mati in Davao Oriental, Monkayo in Davao de Oro, and San Miguel, Bulacan.
Read more: Manila Standard