Thursday, September 25, 2014

CREBA pushes for growth in PH real estate sector

The Chamber of Real Estate & Builders' Association Inc. (CREBA) Chairman, Charlie A.C. Gorayeb, remains optimistic about the growth in the real estate market and states that the organization will continually push for reforms in the sector to ensure the sustainability and growth of the industry. 

Gorayeb expressed that, "This year, we hope to unlock and link together sustainable and strategic approaches to keep this growth path, and in the process, reinforce the commitment of industry stakeholders to advance land and housing as primary catalysts for economic and social progress,”

“The growing number of middle class has prompted private domestic spending while positive outlook from foreign investors is creating an opportune condition for the real estate sector to continue pushing forward the economic growth of the country," he added.

The advocacy council of the CREBA aims to pass a law that will create a Department of House and Urban Development (DHUD) which in turn will consolidate, rationalize, coordinate the functions and resources of housing and urban agencies under a single governing organization. Some of the agencies that will be included will be the National Home Mortgage Finance Corp., Home Guaranty Corp., Home Development Mutual Fund or Pag-Ibig, National Housing Authority, Housing and Land Use Regulatory Board and Housing and Urban Development Coordinating Council (HUDCC).

These reforms will be discussed in the upcoming CREBA national convention to be help in Iloilo City. 

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