MANILA, Philippines – Who among the 2016 presidential aspirants is the most real estate friendly?
In its latest report, global property portal Lamudi cited some of the accomplishments of the five presidential candidates that in some way benefited the country’s real estate sector.
According to Lamudi, while Mar Roxas may not have pushed pieces of legislation directly related to real estate, he had authored two bills which indirectly benefited the the industry.
The first was Republic Act 8748 which was an amendment to the Special Economic Zone Act while the other was Republic Act 8756 which called for giving incentives to multinational companies which establish regional headquarters in the country.
Sen. Miriam Defensor Santiago, on the other hand, has filed a total of 1,231 bills and resolutions during the 14th Congress, according to Lamudi.
Among the bills Santiago co-authored is the Republic Act 9646, also known as the Real Estate Service Act or the Resa Law.
For Vice President Jejomar Binay, his term as head of the Housing and Urban Development Coordinating Council, could be considered as his top contribution to the real estate industry.
Lamudi said the the vice-president’s camp claimed that during Binay’s term as housing czar, the Home Development Mutual Fund or the Pag-IBIG Fund became the largest shelter agency with assets reaching more than P376 billion while the Housing and Land Use Regulatory Board became stricter in monitoring the real estate industry, especially on advertisements.
Among the 2016 presidentiables, Lamudi said Sen. Grace Poe and Davao City Mayor Rodrigo Duterte have yet to leave their mark on the country’s real estate industry.