PEOPLE get this feeling that the housing industry will touch the uptrend with the recent resumption of construction works in public and private infrastructure projects in the Philippines.
Real estate activities stopped last March 17 after President Duterte imposed a crippling enhanced community quarantine (ECQ) in Luzon to halt the further spread of the deadly COVID-19.
The Department of Human Settlements and Urban Development (DHSUD) said that some 200 developers have resumed or set to resume construction of more them 700 projects all over the country.
DHSUD Secretary Eduardo del Rosario, a retired military general and a product of the elite Philippine Military
Academy, said the 700 projects will employ more than 50,000 construction workers.
Likewise, the resumption of real estate activities will trigger the much-needed construction supply chain involving more than 80 related businesses like cement, steel, tiles and others.
A native of Talavera, Nueva Ecija, the DHSUD top honcho said “this clearly indicates that the housing industry is critical in pump-priming the local economy amid these challenging times.”
If we have housing construction nationwide, he said, it will trigger the supply chain. It will also generate much-needed job opportunities, benefitting the COVID-19 displaced workers.
What is important, in the view of various quarters, is for the country’s developers to ensure that all safety and health protocols set by DHSUD and the national government are strictly followed.
With the increasing backlog of dwelling unit in this impoverished Southeast Asian nation, the resumption of all real estate activities across the country deserves the support of all sectors of society.
It’s a move in the right direction.