CREBA appeals against higher balanced housing quotas

The country's largest association of housing and real estate stakeholders have appealed against proposed bills in Congress increasing the current mandatory balanced housing compliance quotas for subdivision and condominium developers saying the move will bring a screeching halt to projects that are already in the pipeline and will only suppress the newly-found resurgence of the property sector from the negative effects of the pandemic.

In a statement, the Chamber of Real Estate & Builders' Associations, Inc. (CREBA) emphasized the constitutional mandate of the state in pursuit of the common good, to undertake, in cooperation with the private sector, a continuing program of urban land reform and housing. Through the enactment of appropriate enabling laws, the national shelter program is aimed to make available at affordable cost, decent housing and basic services to underprivileged and homeless citizens in urban centers and resettlement areas.