By Mia A. Aznar
Saturday, June 16, 2012
WITH tremendous growth in real estate, a developer is asking his colleagues in the industry to look beyond their own developments and help do something about urban decay.
“The best is surrounded by the worst,” said Jose Soberano III, president of Cebu Landmasters Inc.
Asked to speak on redeveloping Cebu’s informal housing sector during yesterday’s Emerging Industries Forum, which was one of the activities for Cebu Business Month, Soberano lamented that as Cebu continues to develop, colonies of informal settlers also abound.
Pointing out the successes of Cebu IT Park, Cebu Business Park and future developments at the South Road Properties, Soberano noted that not far from these areas were neighborhoods of informal housing.
He called this a picture of contrasts.
Soberano said the private sector can be part of the solution and not leave everything to the government.
He presented four initiatives that the private sector can do that he hopes will help solve the proliferation of informal settlers in urban areas.
His first initiative is for developers to support countryside development and to go vertical in urban centers.
Soberano said larger tracts of land at cheaper prices are available outside the metropolis, and would make it easy to entice the low to medium market to relocate in such areas. However, he said to make these viable developments, they should also take into consideration the business activities in these areas to support their projects.
In urban areas, Soberano suggested offering quality and affordable vertical housing.
A second initiative that Soberano suggested was to create awareness of projects that are affordable for the masses.
Soberano said many who live in informal settlements may not be aware of the alternatives or do not know that they can afford to buy better homes for their families.
He noted that many who live in informal dwellings live well, as they are able to buy for themselves appliances and good food to feed their households. He added that there are residents of such dwellings who earn a combined income of P20,000 a month, which is enough to buy a low-cost housing unit.
The challenge, he said, is attracting this market and showing them that buying their own home can be an option for them.
The third initiative that he introduced is to redevelop idle lands to construct affordable homes with the necessary infrastructure and public amenities.
He believes that if properly approached, landowners of such properties will be willing to have their lands developed, instead of paying taxes annually without seeing returns. He said many lots in the North Reclamation Area have been turned into garages and storage lots.
Consumer confidence declined in the second quarter this year, the Bangko Sentral ng Pilipinas (BSP) reported, as Filipinos braced for expenses at the opening of the school year. However, most respondents also said the conditions were right for buying big-ticket items, like real estate. “Respondents’ views were driven by the consideration that real property is a good investment,” the BSP also said.
The fourth initiative Soberano brought up was a project being undertaken in India.
Soberano cited the large-scale slum rehabilitation being undertaken in Dharavi, one of the most populous slums in Mumbai. The Dharavi Redevelopment Plan aims to make India slum-free by 2025 by redeveloping the slum area into an integrated residential complex with condominiums, health centers, commercial and recreation areas.
“Do we even have a small percentage of that dream?” Soberano asked.
He urged those present to choose their initiatives rather than stick to the “status quo and manifest our basic hopelessness.”
Published in the Sun.Star Cebu newspaper on June 16, 2012.
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