BlogFreshest property listings, latest news, and top real estate tips.
CREBA will cover socialized housing at 5th monthly business meeting by Jillian CariolaPublished: May 21, 2014Updated: December 2, 2014

CREBA believes including condo developers and lowering the quota will increase the production of socialized housing.

The 5th Monthly Business Meeting of the Chamber of Real Estate and Builders’ Association, Inc. (CREBA) is set to happen on May 29, 2014, 12 PM at the Bahia Ballroom of the Hotel Intercontinental. First on the agenda is discussing the amendments to Republic Act 7279, or the Urban Development and Housing Act (UDHA), which requires all subdivision developers to build socialized housing equivalent to either 20% of the total project area or cost of the main projects.

Since its passing in 1992, the UDHA has only resulted to meager production of social housing projects, prompting CREBA to propose several changes to the RA, such as including condo developers and setting a more manageable quota. According to CREBA national chairman Charlie A. V. Gorayeb, a quota of 10% for condos and 15% for subdivisions would be a more achievable goal.

“We would like however, that all modes of compliance redound to production of more housing units instead of its former cash and other equivalents,” Gorayeb explained.

The monthly meeting will be graced by Akbayan Party List representative Congressman Ibarra M. Gutierrez, who also heads the technical working group on balanced housing under the House Committee on Housing and Urban Development.

Also making an appearance will be Iloilo City Mayor Jed Patrick E. Mabilog when CREBA launches the 2014 CREBA national convention, which will be held in Iloilo City on October 15-18 this year.

 

(Photo from Concrete Forms/Flickr Creative Commons)

comments powered by Disqus

Subscribe

Get the freshest property listings, latest news, and top real estate tips delivered straight to your inbox!