HUDCC holds 3-day housing fair

CEBU - Over 10,000 properties nationwide are to be disposed of in the three-day housing fair organized by the Housing and Urban Development Coordinating Council (HUDCC) for both government and private employees.

In Central Visayas, there are nearly 1,000 foreclosed properties of Home Guaranty Corporation (HGC), Pag-IBIG Fund, National Home Mortgage Finance Corporation (NHMFC), Bangko Sentral ng Pilipinas (BSP), Social Security System (SSS), and Government Service Insurance System (GSIS) that are to be sold.

This is the third year that the government is holding the housing fair. The first was held in October 2006 at the Glorietta Activity Center in Makati City. It was spearheaded by HUDCC chairman and Vice President Noli De Castro with government employees as the primary target market.

According to HUDCC-7 head Ellen Cañete, the housing fair aims to give assistance to Filipino workers in acquiring affordable housing units.

She said it also aims to fast track the disposition of acquired properties of key shelter agencies and government financing institutions.

Before housing fairs were held, acquired properties usually remain idle for a long time due to limited opportunities for disposition and lack of awareness on the part of buyers.

This year, President Gloria Macapagal-Arroyo signed Memorandum Circular 160 ordering for the conduct of yearly housing fairs as part of the National Shelter Month every October.

HUDCC reported that participating agencies and GFIs have earned combined revenues of P4.7 billion through the housing fairs since 2006. 

The Pag-IBIG Fund is the biggest seller with 14,830 units sold worth around P4 billion.

For buyers interested in brand new homes, the housing fair will also have exhibits featuring the housing projects of private developers. 

The activity yesterday kicked off with a motorcade from Plaza Independencia to SM City Cebu.

Cebu City Administrator Bimbo Fernandez was the event’s guest speaker representing Mayor Tomas Osmeña. — Ferliza C. Contratrista/LPM (THE FREEMAN)