OSHDP is set to continue its advocacy and leadership through its upcoming events.
As the Affordable Housing Summit 2024 unfolds today at Solaire Resort North, the Organization of Socialized and Economic Housing Developers of the Philippines (OSHDP) has provided a comprehensive update on the state of the housing and real estate industry, reflecting both significant progress and ongoing challenges.
Industry progress and 4PH implementation
The housing sector remains robust, vibrant, and resilient, according to industry leaders. Two years into the Pambansang Pabahay para sa Pilipino Program (4PH), however, there are mixed reviews regarding its implementation. While the government has made strides in securing funding, the disbursement and impact of these funds remain areas of concern.
As of May 2024, Pag-IBIG Fund has approved a total of P13.651 billion in developmental loans for 4PH projects, with P651.5 million disbursed so far. Despite these figures, only a fraction of the funds has been utilized, with a mere P101.5 million disbursed in May and P200 million released in April for projects in Luzon and the Visayas.
This is against the backdrop of a P250 billion allocation over six years, translating to an annual average of P46.1 billion. Pag-IBIG reported that while P7.2 billion in 4PH home loans were approved, no loans have been taken out under the flagship program yet.
OSHDP president Paolo Giovanni Olivares expressed concern that despite these initial gains, the program has yet to fully leverage private sector partnerships.
“The much-desired aspiration to engage the private sector in 4PH has not gained the traction we had hoped for,” Olivares noted.
OSHDP’s leadership and advocacy
Throughout 2024, OSHDP has maintained its position as a leading voice in mass housing development.
Atty. Christopher Ryan Tan, representing OSHDP, presented a proposal at the 28th NREA-DHSUD National Convention aimed at reversing the “less-than-desirable trajectory” of 4PH. The proposal, approved by the OSHDP board of directors, has been forwarded to the Department of Human Settlements and Urban Development (DHSUD) for consideration.
OSHDP has also been active in other key events, such as the “2nd Socialized Housing Summit” organized by Ateneo, where OSHDP chair Engr. Marcelino Mendoza discussed the critical role of mass housing developers in addressing the country’s housing needs. He also outlined forward-looking strategies to enhance the effectiveness and responsiveness of the affordable housing sector.
OSHDP is set to continue its advocacy and leadership through its upcoming events.
Recognition, corporate social responsibility
OSHDP members have likewise received significant recognition in 2023, particularly during Pag-IBIG Fund’s semi-annual Stakeholders’ Accomplishment Report (STAR).
In addition to these accolades, OSHDP successfully held the 2024 Shelter Cup, a golf tournament that not only provided a platform for networking but also raised funds for OSHDP’s corporate social responsibility initiatives. The organization also continued its Regional Housing Visits, with a focus on localized discussions of housing issues and solutions, such as the recent visit to Cebu City.
Navigating challenges
The second half of 2024 has been a period of significant developments for OSHDP and the real estate industry.
Notably, the administration’s target for 4PH was downsized from six million to three million housing units over six years. This target reset underscores the pressing need for the government to consider OSHDP’s supplementary proposals to boost 4PH implementation, particularly in leveraging private sector participation.
Additionally, the enactment of Republic Act No. 12001, the Real Property Valuation and Assessment Reform Act (RPVARA), has introduced strict rules for updating property valuations every three years, de-politicizing property assessments by removing the discretion of local government units. This new law is seen to bring more transparency and consistency to property taxation and other related processes.
Looking ahead, OSHDP is set to continue its advocacy and leadership with upcoming events, including the Luzon leg of its Regional Housing Visits in Pangasinan this October, as well as an International Study Tour in Vietnam. These initiatives are part of OSHDP’s ongoing commitment to drive progress and innovation in the affordable housing sector.
As OSHDP celebrates its achievements and navigates the challenges ahead, the organization remains dedicated to revolutionizing the Philippine housing industry, ensuring that affordable housing becomes a reality for all Filipinos.