SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://aichuwei.com
Go said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
The accompanying explanatory statement said the measure “allows local governments to levy a half-percent socialized housing tax on urban land values, with proceeds dedicated to socialized housing and public rental projects.”
Go files housing development bill
”In addition, the bill introduces securitization mechanisms to raise more housing funds through bonds and securities exempted from usual taxes and registration requirements. Private developers will also be incentivized to participate in socialized and low-cost housing projects, with such participation counted toward compliance with balanced housing laws,” it added.
- Marcos to mark ‘Thrilla In Manila’ 50th anniversary
- Australia halts logging for koala haven on eastern coast
- DICT grants amnesty to unregistered delivery firms
- WorldSkills Asean Manila begins
- HEADLINES: DPWH fires Bulacan engineers, blacklists contractors over anomalous projects | Sept. 5, 2025
- Ukraine offers to co-produce drones with Philippines for maritime patrols
- 40% of Filipinos are now obese, says Health expert
- Police brutality fuels soaring tensions in Indonesia
- Putin and Modi in China for summit hosted by Xi
- Eight towns in Cotabato cancel classes on Monday
