Among the SHDA developers present were Ayala Land, Filinvest, Robinson’s Homes, Moldex Realty, Ceres Homes, Property Company of Friends and the Firm Builders Group. The banking sector, led by BAP president and former Prime Minister Cesar E.A. Virata, was represented by the top executives coming from China Trust, China Bank, Ibank, Planters Development, Metro Bank, Banco de Oro, RCBC Savings, PS Bank, Equitable-PCI, BPI Family, Hong Kong Shanghai, Standard-Chartered, the Rural Bankers Association, and the Chamber of Thrift Banks. Other developers present in the meeting included St. Lucia, Globe Asiatic and Creba.
SHDA national president Jesus B. Atencio noted that the meeting underscored the President’s commitment to tap the housing industry to pump-prime the economy, and the vital role that developers play in the provision of decent and affordable housing. "The meeting with GMA shows the importance that the present administration puts on the housing sector as a national centerpiece program to revitalize the economy," he said.
During the meeting, President Arroyo urged the banking sector to provide more long-term funds for housing and to offer more developmental loans to developers. In this light, Presidential consultant Deogracias Vistan presented a proposal to re-channel surplus funds of Pag-IBIG Fund amounting to P3 billion this year to be utilized by private banks for mortgages and contracts with a term of 20 years at a fixed rate of 11 percent.
Atencio added that the meeting has provided SHDA developers the opportunity to update the President not only on the status of the SHDA pledge 200,000 but also on specific concerns of developers to further improve shelter delivery. Earlier, SHDA developers pledged to President Arroyo the production of some 237,000 units from 2002-2004.
During the meeting, Atencio highlighted "the return of developers confidence in the present state and future of the housing sector in the country." He added that "as a result of President Arroyo’s administration reforms in housing finance and processing of permits, the entire SHDA membership has actually became bullish about the industry even in the short-term."
SHDA estimates that about 1,500 new projects by its members were registered with HLURB in 2002, representing a 20 percent increase from 2001’s estimate of 1,200 projects and a 66- percent increase from year 2000’s estimate.
This represents as much as 100,000 new housing units to be started in 2002, representing a 60-percent increase in potential housing production from year 2000 levels of 60,000 units.
Developers’ take-out performance with Pag-Ibig Fund has likewise improved in the last two years. SHDA estimates that from a level of under P3.8 billion in 2001, there has a 37-percent increase in fund utilization to about P5.4 billion in 2002 representing an increase of almost 3,000 units.