Construction magnate Reghis Romero II yesterday said a possible US recession as a result of its housing market crisis will not likely affect the Philippine real estate industry.

“In the Philippines, the loan to collateral ratio (for housing loans) is very strict so it would not happen, Romero, national president of the Chamber of Real Estate and Builders' Association, who was the guest speaker at the general assembly meeting of CREBA-Negros Chapter in Bacolod, said yesterday.

Romero said Philippine banks also do not use the same mortgages as their US counterparts which experienced sharp rise in home foreclosures.

Alunan named
SHDA president anew

Negrense Eduardo Alunan of Alunan Realty Company Inc. was again elected recently as national president of the Subdivision and Housing Developers Association Inc. for 2008, a press release from SHDA said.

SHDA is the largest and leading organization of real estate developers nationwide. Roy Calleja, president of the PA Medium Rise Builders Inc., is the new SHDA chairman.

The SHDA Governors-at-Large are Francisco Buencamino of Breeze Woods Development Corp., Bansan Choa of Surewell Equites Inc., Benirando Claudio of Makar Properties Development Corp., Eleuterio Coronel of Philippine Township Inc., John Paul Dy of Prominence Property Development Corp., Andrew T. Gotianun Jr. of Filinvest Land Inc.,

Gov't employees group
buck rationalization plan

The Confederation for Unity, Recognition and Advancement of Government Employees-Negros said it is joining the nationally-coordinated protest activities against the reorganization plan of the Arroyo administration that they say will lead to massive retrenchments and gross violation of employees' rights.

Its chairman, Dan Alcoriza, said the move to streamline the bureaucracy will diminish the delivery of public services because government agencies actually lack personnel.

Figures provided by the group show that about 1.4 million government employees or rough 30 percent of the government workforce will be forced to retire under the “Early Retirement Program.” This year, about 420,000 employees will be affected, the group said.

back to top