Home»more features»How Can the Presidentiables’ Platforms Have an Impact on Philippine Real Estate?

How Can the Presidentiables’ Platforms Have an Impact on Philippine Real Estate?

Pinterest Google+

Photo Collage: Hendrix Vargas

By Renselyn Estipular

The 2016 Philippine presidential elections’ campaigning has reached fever pitch; the elections are definitely almost here.

Presidentiables Jojo Binay, Digong Duterte, Grace Poe, Mar Roxas, and Miriam Defensor-Santiago continue to make their last pitches, which, for the ordinary Pinoy, make it even more difficult to decide who to vote for, especially when one is uninformed about each candidate’s past contributions to the public.

In the area of property development, for instance, how did our stable of presidential bets contribute to the recent real estate’s unprecedented growth? And how can their platforms of government lead the current boom in this industry to its zenith?

  • Jojo Binay

Jojo Binay is the 15th Vice President of the Philippines and was formerly the mayor of the City of Makati. He was also the head of the Housing and Urban Development Coordinating Council (HUDCC), which cited different accomplishments among government housing agencies and strictly monitored and evaluated practices in the real estate sector throughout his term.

In October last year, during the 41st Philippine Business Conference, Mr. Binay unveiled his platform of government if he were elected to the Philippine Presidency.  He has numerous plans but two of these could contribute significantly to Philippine real estate.  First are the amendments to the Build-Operate-Transfer Law or Republic Act No. 7718, which will create more benefits for both the private and public sectors; and second is the acceleration in infrastructure development.

  • Digong Duterte

Digong Duterte has been the mayor of the City of Davao for the longest time: seven terms and more than 22 years! In 2010, a trust poll conducted by Reader’s Digest Asia ranked him fifth Most Trusted Filipino Politician. On the other hand, crowdsourcing survey website Numbeo.com recently named the City of Davao as one of the safest cities in the world.  Although Duterte hasn’t implemented any program that’s solely devoted to real estate, he maintains a good reputation for his various peace and order initiatives that can help attract foreign tourists and investors to the country.

Mr. Duterte, together with his vice presidential running mate Allan Peter Cayetano, revealed his platform of government in Cebu last January 7, which includes reforms in corruption, crime, and drug abuse prevention, economic development, agriculture and fisheries, Overseas Filipino Workers (OFWs) and other workers’ assistance, transportation, health, education, and climate change and disaster management. His plan to limit five signatures per business permit application and to impose a 30 to 60-day processing time will bring the most positive effect on local real estate.  These changes, if implemented, will help speed up the various constructions of residential townships and office buildings.

How Can the Presidentiables Platforms Have an Impact on Philippine Real Estate 2
Photo Collage: Danielle Bernadette Banigoos
  • Grace Poe

Grace Poe is the adopted daughter of actors Susan Roces and the late Fernando Poe Jr. She served as the chairperson of the Movie and Television Review and Classification Board (MTRCB) from 2010 to 2012 and has been serving as a senator since 2013.

In September last year, Ms. Poe announced her plan to run for President in the 2016 presidential election. Some of the components of her platform of government can impact the growth of real estate in the country.  Among these are inclusive growth, global competitiveness, and open government; improvements in agriculture, irrigation, and mechanization; development of infrastructure, including fast access to the Internet; government-supported industrialization; the construction of more roads and trains not only in Metro Manila but also across the country, and pervasive tourism programs.

  • Mar Roxas

Mar Roxas is the grandson of former Philippine President Manuel Roxas. He was the former Secretary of Trade and Industry and Secretary of Transportation and Communications.  In 2007, he was awarded the E-Champion Award and the Palanca Awards Gawad Dangal ng Lahi. He also served as the appointed Secretary of the Interior and Local Government under President Benigno Aquino III’s administration.

Parts of his platform of government may directly target the real estate sector. These include the making of efficient partnerships with the private sector when following specific laws on land ownership, creating domestic jobs, and discouraging the establishment of conditions between the private sector and the government, which may impede the growth and competitiveness of many private businesses.

  • Miriam Defensor-Santiago

Lastly, Miriam Defensor-Santiago is an internationally recognized Filipino politician notable for her strong personality and straightforwardness.  She is the author and sponsor of the Philippines’ Sin Tax Law, Philippine Act on Crimes Against International Humanitarian Law, Cybercrime Act of 2012, and the Archipelagic Baselines of 2009, and the co-author of the Republic Act 9646, also known as the Real Estate Act (RESA Law).

Ms. Santiago announced her intention to run for the Presidency October last year.

In the last two months, she spoke about her different advocacies in her campaign speeches and media interviews. Some of her planned initiatives that may impact the Philippine real estate industry include making a reform in the 19-year-old tax system that will be fairer and responsive to changes in the economy and competition within the ASEAN region; investing in public infrastructure, agriculture sector, and government institutions; building a modern international airport; developing a new railway system from Metro Manila to Sorsogon, Bicol; constructing an integrated urban transit system between Metro Manila and Bulacan, Rizal, Cavite, and Laguna, and reducing the current traffic problems in major cities.

How Can the Presidentiables Platforms Have an Impact on Philippine Real Estate 3
Photo Collage: Sanshine Atanacio

So, who are you voting for on Monday, May 9?

Main Photo c/o Manila Bulletin, GMANews.tv, Interaksyon.com, and Philippine Star

Previous post

Government Allocates P13.5 B to Upgrade, Rehabilitate City Roads in 2017

Next post

Philippine Banks’ Real Estate Exposures Remain Manageable-BSP