About 1.7 million jobs per year would be generated under President Ferdinand “Bongbong” R. Marcos Jr.’s six-year Pambansang Pabahay para sa Pilipino: Zero ISF 2028 Program when the housing program goes full blast.
“It is projected to have direct and indirect jobs in the sector especially in areas where mid-rise to high-rise units will be built,” Department of Human Settlements and Urban Development Secretary Jose Rizalino Acuzar said.
Based on a study, at least eight workers are necessary in the construction of a housing unit within a certain period. The Pambansang Pabahay is aiming to build one million units per year in the next six years.
The significant number of jobs is seen to contribute in the administration’s post-pandemic recovery efforts and in furtherance of the 8-point economic agenda of the Marcos administration, according to DHSUD.
As of August 2022, the Philippine Statistics Authority reported 2.68 million unemployed Filipinos aged 15 to 64 years old.
“With this program, we will also be tapping the economic pump-priming potentials of the housing sector,” Acuzar added.
Under the program, the DHSUD seeks P36 billion interest support per year and calls for the active involvement of both government and commercial banks in the financing side.
So far, DHSUD has signed a memorandum of understanding with the Development Bank of the Philippines and has engaged other government financial institutions and even private banks.
Some government financial institutions have expressed readiness to support PBBM’s priority housing program as several local government units had already broke ground for their respective housing projects.