MANILA — The Department of Human Settlements and Urban Development (DHSUD) on Thursday said the construction for public housing will be "full-blown" this year, as they seek to build over 1 million units.
Housing Undersecretary Avelino Tolentino III said the agency aims to complete 1.25 million houses by the end of 2023.
"Ang atin po talagang idea pagpasok po ng 2023 ay talagang mag-full blown construction na po itong atin pong mga na-groundbreaking events," said Tolentino during a televised briefing.
"Itong approach natin dito ay nationwide at tayo po ay ginising na natin ang lahat ng ating mga regional offices," he added.
Private organizations and different sectors have helped with the Pambansang Pabahay Program, noted the official.
So far, he said they were able to get a "commitment of almost 300,000 housing units" enrolled under the program.
Video from PTV
While the agency has received some P4 billion in this year's national budget, the socialized housing program's funds will come from investible funds from the government's financial institutions and private banks.
The idea, Tolentino said, is to source developmental loans for housing constructions through state financing institutions.
"Hindi na basta nakaangkla sa budget na nilalabas ng national government through the GAA – iyong atin pong taunang budget – ang ating panggawa po ng pabahay," he said.
"Nauna diyan ang Pag-IBIG Fund na siya na pong naglagay ng P250-billion to kick start housing construction – ito po ay developmental loan window na magagamit po ng LGUs, na magagamit po ng private contractor, ng private developer, o joint venture na para po magamit pampatayo ng pabahay," he said.
The DHSUD earlier vowed to complete the construction of 6 million houses by the end of President Ferdinand Marcos, Jr's term or 1 million units annually.
Tolentino had said the Philippines has a housing need of 6.5 million units.