MANILA, Aug. 8 (PNA) — Low-cost housing developers can help in resolving the 5.5 million housing backlog in the country, Chamber of Real Estate and Builders’ Associations (CREBA) Vice Chair Florentino S. Dulalia Jr. said.
Dulalia, who is also the Chair and Chief Executive Officer of F.S. Dulalia Realty Inc., urged the government to support the sector through improved access to finance and easing regulations for small and medium players in the real estate sector.
“The government should encourage developments from small and medium firms because we can address our housing backlog,” he said.
He said these players offer affordable prices and easier payment terms for buyers compared to big developers.
In order for small and medium firms to hasten their developments and thrive in the local market, Dulalia said a more relaxed regulation shall be given to these developers.
Currently, the market has same requirements and process for small and medium developers and big developers for their projects.
“For us not to be eaten by big developers, easier doing of business for small and medium developers should be in place,” Dulalia added.
He also mentioned the ASEAN economic integration taking place at end-2015 can also be a threat and an opportunity for the real estate sector.
As foreign investors can now get share in the local market, the government must equip support to the small and medium players in the industry.
Dulalia, on the other hand noted, that the ASEAN integration will also allow local companies to get foreign partners to hasten and expand developments in the local market. (PNA)