The Chamber of Real Estate and Builders’ Associations (CREBA) on Wednesday decried the massive diversion of public funds to “anomalous” flood control projects, saying the misuse of billions of pesos has worsened flooding and deprived millions of Filipinos of much-needed housing.
“No matter how good our developments are, when the government fails to put in place effective flood control measures, our projects become islands. The value of real estate is compromised, and worse, billions that could have been used to build homes for our citizens were wasted,” CREBA president Noel Cariño said in a statement.
Cariño said the “corruption-ridden projects” ran from 2020 to 2025, describing the scale as “a crime of great magnitude” with effects that will tie down generations of Filipinos.
He cited the canceled P28.7-billion South Korean loan package as an example of how scandals in infrastructure undermine funding for flagship projects, including housing.
The housing backlog remains at over 6.5 million units, with government targets only expected to reduce the deficit by 5 percent to 10 percent in the near term. CREBA warned that unless corruption is addressed, even modest gains may be derailed.
Environmental planner and former CREBA president Nathaniel Von Einsiedel said the government’s policy of declaring alienable and disposable (A&D) lands in floodplains compounds the problem, allowing developments in high-risk areas with inadequate drainage planning.
“Flooding is not just an infrastructure issue, it is a land management issue,” he said.
Cariño welcomed Housing Secretary Jose Aliling’s move to make the Pambansang Pabahay para sa Pilipino (4PH) program more inclusive by removing barriers for developers and subsidizing housing loans at 3 percent interest.
Industry groups, including CREBA, have pledged to support the program, with socialized housing groups committing to deliver at least 250,000 units.
CREBA said the country could not afford to keep losing billions to corruption while millions remain homeless.
“Imagine that kind of money being spent on putting up homes. So many of our citizens would have had a home by this time,” Cariño said.
