CREBA supports appointment of new economic czar

The country’s largest and oldest housing and real estate advocacy group expressed its all-out support on the appointment of Secretary Frederick D. Go as President Ferdinand R. Marcos, Jr.’s economic czar tasked with overseeing the Cabinet’s economic cluster.

Created under Executive Order No. 49, the Office of the Special Assistant for Investment and Economic Affairs (OSAPIEA) will head the Economic Development Group and will monitor key departments, including the Department of Finance, National Economic and Development Authority, Department of Budget and Management, and the Department of Trade and Industry, along with their attached agencies.

Before this appointment, Secretary Go has been a crucial member of the President’s economic team as Presidential Adviser on Investment and Economic Affairs.

Speaking to housing industry stakeholders at the grand opening of the recent 50th CREBA national convention and property expo where he was guest of honor, Secretary Go acknowledged the Philippine real estate and construction’s vital role in the country’s over-all economic growth as a dynamic and rapidly developing sector.

Citing the equally flourishing infrastructure nationwide vis-à-vis the Department of Human Settlements and Urban Development (DHSUD)’s ambitious target of 6 million housing units that will benefit 30 million Filipinos, Secretary Go thanked CREBA for its support and housing production pledge which he said will be a big boost in achieving the country’s upward economic and investments objectives. 

Housing construction has been a globally-recognized economic pump-primer unleashing a value-chain of other businesses as well as jobs and taxes.

Under its 20-year ‘a home for every Filipino’ program, CREBA envisions to intensify housing production nationwide to at least 500,000 units per year through a chain of policy and legislative reforms on shelter finance, land access as well as homebuyer and investor-friendly regulations.

CREBA national president Noel Toti M. Cariño expressed the association’s confidence and optimism that with his outstanding background as a seasoned and visionary business leader particularly in the field of real estate development, Secretary Go’s strategic inaugural appointment to the new office will bring a broader outlook in achieving the current administration’s commitment to economic and social transformation.

The 2023-2028 Philippine Development Plan aims for the kind of growth that is inclusive, fostering an enabling environment where Filipinos get equal opportunities to benefit fully from an innovative and globally competitive economy. In order to promote human and social development and upgrade the bult environment the PDP aims to mobilize private sector and government resources to meet the country’s housing needs.

In support of such goals, executive vice-president Elsie Chua emphasized CREBA’s vision to spearhead sustainable development initiatives and advocate for policies that will support the government’s aims to deliver more housing units through affordable home financing particularly for the OFWs.