The Subdivision and Housing Developers Association (SHDA) has explored the opportunities in tapping idle assets of financial institutions to spur the housing industry, further developing the overseas housing market, and batted for closer government-private sector efforts in promoting the country as a retirement destination for the world.
SHDA National President Willie Y. Uy and Chairperson Marilu M. Alferez said the recent 2005 National Convention of SHDA and the Housing and Urban Development Coordinating Council (HUDCC) in Bacolod City approved a resolution embodying various proposals discussed in workshops.
The SHDA, the country’s largest organization of housing developers, is considered as the prime mover in the housing industry and government’s partner in pushing for housing policy reforms.
On the issue of the special purpose vehicle law and the opportunities for joint ventures, SHDA asked that 1) the SPV law’s provisions on capital requirements be amended to increase the flow of non-performing assets transactions; 2) roadblocks to private sector participation in acquiring non-performing assets of financial institutions be removed; 3) banking laws and other international reporting standards be enforced to discourage non-disposition by financial institutions of non-performing assets, and 3) valuation of non-performing assets of private financial institutions be improved to make it more affordable or reasonable.
In matching developers with overseas housing marketing networks, SHDA urged a common government-private sector data base on OFWs socio-economic profile and demographic indicators, a common-shared marketing office for SHDA developers to enhance sharing of expertise and resources in reaching out to the OFWs, and a good collection system with remittance companies to minimize losses, delays and non-payment of housing loans.
SHDA also sought an overall mechanism to showcase inventory of available housing units; and advocate the grant of incentives and support to developers engaged in OFW housing projects.
On the issue of opportunities and potentials of the Philippine retirement industry, SHDA called on The Philippine Retirement Authority (PRA) itself to intensify the industry’s promotion and on the private sector to join the PRA in establishing more retirement destinations and jointly promoting the retirement programs.
The Department of Trade and Industry was urged to grant incentives for foreign and local investments in retirement facilities, while the Department of Foreign Affairs should use consular offices abroad to promote the retirement industry.
A closer coordination between PRA and the Department of Tourism was urged to promote destinations for both tourists and retirees. SHDA called on the National Telecommunications Commission to adopt an open-door policy in regulating the telecommunication industry to attract investments in modern telecommunication facilities, while the Department of Public Works and Highways was expected to expand road infrastructure projects to access isolated tourist spots, while local government units to maintain peace and order in municipalities, giving special attention to protection of foreign nationals.
The Department of Justice should work for the creation of special courts to speed up resolution of cases and complaints of retirees, while Congress will pass legislation to impose stiffer penalties on anyone harming tourists and foreign nationals.
