By Jeandie O. Galolo
Saturday, September 21, 2013
INSTEAD of developing properties solely for the high and mid-market, a homegrown real estate developer decided to venture into socialized and economic housing for the “underserved” sector before the end of the year.
Cebu Landmasters, Inc. President and Chief Executive Officer Jose Soberano III disclosed on Tuesday that the company will launch their socialized and economic housing project on a 6.5-hectare lot in Linao, Minglanilla before the end of 2013,
with 400 houses expected to rise in the next few years.
with 400 houses expected to rise in the next few years.
This move, according to Soberano, shows the company’s desire to provide homes to the “underserved” sectors of the society instead of just focusing on the needs of more affluent markets.
He said that by “underserved”, he meant those who earn P10,000 per month or less.
Just recently, Cebu Landmasters celebrated the topping off of its 12th project, the Midori Residences, on A.S. Fortuna St. in Mandaue and broke ground for another mid-rise condominium project, the Mivesa Garden Residences, in Barangay Lahug.
P400,000 per unit
Both of these cater to the high and middle market.
Soberano said each house will cost around P400,000 and below for the socialized housing, with an estimated lot area of 32 square meters. “Economic” housing units can go for P600,000 to P1 million.
Residents can also enjoy amenities like a clubhouse and community centers and will be provided with security like that of most subdivisions, said Soberano.
In addition, he emphasized that owning a house nowadays in a socialized housing community is no longer a problem since banks and other financial institutions offer housing loans with low interest rates.
PAG-IBIG or the Home Development Mutual Fund, which he cited, is encouraging such kinds of loans. He said that for a 25-year payment period on a P400,000 housing loan, one will be paying less than P2,000 a month.
Urban development requirement
Rather than renting a property, Soberano advised those who wish to own a house, but don’t have enough money, to avail themselves of a housing loan.
Soberano said he is also eyeing on developing more socialized housing projects, but hopes that others in the private sector will also do the same.
“Let the private sector or developers look at this area. We cannot just leave this to Habitat (for Humanity) or Gawad Kalinga. We also have a major role to play here,” he said.
Republic Act 7279 or the Urban Development and Housing Act of 1992 mandates developers to use 20 percent of their total project costs to “build new settlements or implement slum improvement and resettlement programs, enter into joint-venture projects with the local government units or housing agencies, and participate in community mortgage programs.”
Compliance
Soberano said although there are various ways in complying with the law, the “real compliance is still putting up (socialized) houses.”
He said he envisions to put up a four- or five-story building in a one- or two-hectare property in the city as part of the company’s socialized housing advocacy.
“If we (developers) don’t give them that kind of alternative, then they (underserved sectors) will continue to just flourish in the urban areas…in places that are not really equipped for residential living,” Soberano said.
Instead of just focusing on how much money developers can make out of it, he said it is better to think of how it can contribute to the improvement of communities.
“Economic growth? I would say it’s now more on trying to put some kind of shift on ‘attitude’. There’s an ‘attitude shift’. If you have a home that is properly managed, you have set some line of discipline.”
No comments:
Post a Comment