Real estate good for economy - Noynoy

MANILA, Philippines - Real estate, housing, and global tourism are the sectors which deserve immediate attention since they offer the best prospects for immediate returns to the rest of the economy and the millions of people who need jobs and better income, President Aquino said.

 This as he urged government to be clear and forthright in locating and classifying the lands that are best used for residential development and other requirements of rapidly urbanizing communities.

In his keynote address during the opening of the Philippine Real Estate Festival 2010, Aquino emphasized that national agencies and local governments will have to be more prompt, more dedicated and competent, and more honest and transparent in approving development plans and in processing and releasing the necessary permits, clearances, and licenses.

“Just as importantly, we will have to be more creative and enterprising in sourcing funds that can be made available to both the builders and buyers of homes,” the President stressed. 

He said it is a primary concern for those in government to provide opportunities for decent and stable livelihood for as many of its people as possible.

Of equal concern, Aquino added is the need to increase income in a sustained manner for all the active players in the national economy. These include the national and local governments, business and industry, and the individual income earners.

He pointed out government looks at global tourism and real estate development as veritable sunrise industries for the national economy, noting that these industries are genuine engines of economic growth because of their multiplier effect on a host of other industries and businesses at

 the national and community levels.

 “The industry rules of thumb tell us that, for every house that is constructed, more than half a dozen jobs are created. For the basic housing materials and the fixtures that are installed in every home, business is, in turn, generated for scores of other industries and occupations. So, it is with tourism. Each quality tourist visitor opens up at least three or four job opportunities and spurs an inflow of several hundred dollars to our economy,” the President said. 

“New jobs. Additional income. Multiply these by the hundreds of thousands, and even millions, and we can visualize the economic growth that is pump primed by housing production and tourism businesses,” he emphasized.

According to the President, conventional estimates place the housing backlog in our country at a low of 3.7 million to as much as more than six million housing units. 

“Just imagine the number of people that would be assured of employment were to pursue with single-minded purpose the production of housing units well over the annual outputs that our developers and the housing agencies have been able to register thus far. I am told that our best year was when we produced some 200,000 units in one year. At that pace, it would take us more than an entire generation to whittle down the housing backlog. Clearly, we have to do better than that,” he said.

 Aquino said that as part of government’s overall efforts to create a new environment for doing business in this country, no effort should be spared to ensure the highest levels of efficiency and integrity among officials and personnel of the concerned agencies.

 “Our target will primarily be every resident family, especially the Filipino family, who does not yet have a home it can call its own. Secondarily, it will include all those in search of a community where they can establish their residence and place of work as the anchor for their own personal quest for a better life,” he said. 

He emphasized that the same mindset and degree of resolve must be applied to the development of infrastructure and facilities and amenities for global tourism. 

Starting with the airports and seaports, he said the entry and exit points into and from the country must be clean, adequate, efficient, and friendly at all times.

“Transport and communication systems to and in their destinations of choice must be available, convenient, and modern. Accommodations for board and lodging must be safe and secure as well as comfortable and hospitable. Programs for eco-tourism, leisure, culture, and personal wellness must be faithful to our own unique ecology and identity as a nation, even as these are packaged for global acceptance and patronage. Local hosts and tour guides must be well trained and properly accredited to serve as worthy ambassadors for our host communities,” he said.

Aquino added that government’s target will be quality tourists, “meaning people who genuinely wish to discover and experience who we are as a people and what our country is as a piece of paradise and as a member of the international community. These are the travelers, vacationers, and retirees who are disposed to stay a little longer and spend a little more.”  

“It is a simple goal that requires more than simplistic solutions. It calls for the best that all of us can offer – in government as well as in the private sector,” the President emphasized.