NHA, CREBA ink social housing agreement

The National Housing Authority (NHA) and the Chamber of Real Estate and Builders Associations (CREBA) have forged a joint venture agreement on socialized housing for low-income and marginal income families.

The agreement was signed by NHA general manager Edgardo Pamintuan and CREBA national president Charlie Gorayeb during CREBA’s meeting last week.

Housing Secretary Michael T. Defensor, in a message from Seoul, Korea, called CREBA "a pillar of the private sector housing industry" and sought its help in revitalizing the housing sector. He said that "CREBA’s support is critical to the success of our program."

Both Defensor and Pamintuan said the joint social housing agreement strengthens the government-CREBA partnership "for the benefit of our people."

Pamintuan said the NHA-CREBA partnership will be a big boost to President Arroyo’s housing program. It is, he said, a response to the President’s call to alleviate the plight of millions of homeless Filipino families as part of her "healing mission" for unity and long-term progress.

Gorayeb called on CREBA members to join NHA in its socialized housing projects on joint venture arrangements, particularly in areas outside Metro Manila.

CREBA has been advocating for the adoption of a comprehensive home finance system to produce some 500,000 socialized housing units to cope with the 3.5 million housing shortage in the country. The chamber had earlier discussed with Secretary Defensor the features of its package of housing program reforms.

After the signing of the agreement, Pamintuan stressed the government’s housing sector is "now more than ever united, dynamic and responsive to the needs of our homeless Filipinos." Under the leadership of Defensor, he said, the government housing sector "means business and intends to leave a legacy of accomplishments addressing our country’s growing housing problem."

Cited were the distribution of certificates of title and lot assignment and the declaration of 2,000 hectares of government land for housing, completion of major slum upgrading, sites and services programs, and grant of housing loans, all initially benefiting more than 170,000 families.

CREBA members will assume the principal role in the joint venture undertaking either by themselves or in partnership with local government units, landowners, builders and other private sector parties.

NHA’s role is to provide equity up to 40 percent or interim financing of the project cost, The Home Guaranty Corporation will appraise the equity contributions of the parties in terms of raw land.