“204 property developers and 47,412 workers back to work” – Sec. Del Rosario

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MANILA – Secretary Eduardo Del Rosario of the Department of Human Settlement and Urban Development (DHSUD) said 204 major property developers in the country have applied for the resumption of their construction work in the country.

During a live radio-TV interview on Friday, June 11, Sec. Del Rosario disclosed that these developers would implement 725 projects that involved some 47,412 construction workers.   He said from June 1 to 10, 204 developers already applied for the resumption of their project and would construct about 288,709 housing or condo units.  He said that one of the requirements for the approval of their application was the certification from the developer that they had complied with the mandatory safety protocol because of the ongoing Covid-19 pandemic.

The DHSUD is a new department created by virtue of Republic Act 11201 in February 2019 that handles the housing sector of the government. Under its mantle are the Pag-IBIG Fund, National Housing Authority, Social Housing Finance Corporation and the National Housing Mortgage and Finance Corporation. 

Del Rosario said his agency did not receive stimulus fund from the Bayanihan Law because of the pandemic like other agencies of the government, but the Pag-IBIG Fund Board, which he also heads, had allocated Php 10-billion to help developers who stopped operations because of the pandemic. 

“Mayroon kaming Php 10-billion na pautang para sa mga developers na nangangailangan ng tulong up to 70 percent of their project cost at six percent per annum na interest upang matapos ang kanilang proyekto,” (We have Php 10-billion loan facility for developers who need help up to 70 percent of their project cost at six percent per annum interest so that their project will be finished), he said.

Meanwhile, Sec. Del Rosario disclosed that the end of the three-month moratorium of all public housing loans under the department will end on June 15.  This means that regular payment of monthly amortization will begin on the said date onwards.  
“Ang tatlong buwan na hindi nabayaran ng member under sa quarantine ay babayaran lamang pagkatapos ng due date sa kanyang loan,” (The three months that members have not paid because of the quarantine will be collected only after the due date of the loan), he continued.

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