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LBC Ronda Pilipinas 2022 returns after one-year break

THE LBC Ronda Pilipinas will be back on the road after a one-year pandemic hiatus as it holds its 11th edition with a 10-stage race. — RONDA PILIPINAS FB

THE LBC Ronda Pilipinas will be back on the road after a one-year pandemic hiatus as it holds its 11th edition with a 10-stage race that would be participated in by the country’s top cyclists including reigning champion George Oconer of Navy Standard Insurance.

Mr. Oconer ruled the last edition of this annual race — the 10th anniversary edition in 2020 — and is expected to be all out to repeat as overall individual champion and pocket the top purse worth P1 million.

“It will be tough, but with the help of my team, I will do my best to win it again,” said Mr. Oconer.

Mr. Oconer will have by his side another Ronda winner, 2019 titlist and Navy skipper Ronald Oranza and a slew of serious contenders including the young and dangerous riders of Go for Gold and a veteran-laden Excellent Noodles squad spearheaded by former champions Santy Barnachea and Jan Paul Morales.

Messrs. Barnachea and Morales, who combine for five Ronda titles in all, have teamed up this year to give the fancied Navymen and Go for Gold, which will be headed by Boots Ryan Cayubit, Dominic Perez and Jonel Carcueva.

Philippine Army, Team Nueva Ecija, Dreyna, Eagle Cement, Champ Café, Bike Kings Laguna, Vantage Ilocos Norte, VPharma, Team Quezon Province and Team Ilocos Sur are the other teams seeing action vying for the P3.5-million cash purse.

Apart from the P1 million to the winner, the second placer receives P400,000 while the third gets P200,000 with the team champion pocketing P200,000 courtesy of LBC Express, Inc., MVP Sports Foundation, Quad X, Twin Cycle Gear, Standard Insurance, Print2Go, Elves Bicycles, Elitewheels, Orome, Maynilad and Garmin.

Petron Boy Kanin, Green Planet Bikeshop, Prolite, Black Mamba, Lightwater and LBC Foundation are also backing the event along with the PhilCycling and Games and Amusements Board.

The race opens with the Stage One Individual Time Trial and Team Time Trial on March 11 in Sorsogon followed by the 163-kilometer (km) Sorsogon-Legazpi City Stage Three on March 12 and 189.1km Legazpi-Daet Stage Four on March 13.

It will be followed by the 212km Daet-Lucena Stage Five on March 14 and 157.4km Lucena-Tagaytay Stage Six on March 15.

It will take a one-day respite the next day and will wind up with the 180.4km Tarlac-Baler Stage Seven on March 17, 174.4km Baler-Echgue, Isabela Stage Eight on March 18, 193.2km Santiago, Isabela-Baguio Stage Nine on March 19 and Baguio City Stage 10 criterium on March 20. — Joey Villar

Tom Holland’s Uncharted tops US box office charts with $44-Million debut

A SCENE from the film Uncharted

LOS ANGELES — Sony’s long-in-the-works video game adaptation Uncharted collected $44 million over the weekend, enough to lead North American box office charts and solidify Tom Holland’s star power.

The big-budget action adventure has been positioned as a key test of Mr. Holland’s bankability outside of his blockbuster success as Spider-Man. Uncharted has received mixed reviews, at best, so it’s safe to assume the 25-year-old British actor had a healthy hand in selling tickets. It also helps that Uncharted is rated PG-13 and based on one of the most popular video games.

Directed by Ruben Fleischer, who previously led Tom Hardy’s comic book tentpole Venom to box office glory, Uncharted is expected to earn $52 million through Monday’s President’s Day holiday. It’s an impressive start in COVID times, but it doesn’t mean the film has an easy path to profitability. Uncharted carries a $120-million price tag, so international ticket sales will be key in getting out of the red.

To that end, Uncharted crucially landed a release date in China, the world’s biggest theatrical market. Visual effects-heavy action-adventures, like Uncharted, tend to play well in China. But recently the country’s censors have been ultra-selective about letting Hollywood movies screen in its movie theaters, and when the Chinese government does approve non-local product, it’s been a real mixed bag at the box office. So, the film’s success in China remains to be seen. Since Uncharted isn’t opening in China until March 14, piracy could be a concern.

Outside of China, Uncharted has been a favorite. Already, the movie has earned roughly $55 million at the international box office and has crossed $100 million globally.

“This is an excellent opening,” says David A. Gross, who runs the movie consulting firm Franchise Entertainment Research. “Action adventures based on video games are big movies, and this weekend’s figure is nearly double the average for the genre.” He adds, “Budgets run high, so Uncharted needs to connect in every market. So far, it is doing that.”

Uncharted follows the globe-trotting treasure hunter Nathan Drake and his wisecracking partner Sully (Mark Wahlberg, who was once attached to play Nathan Drake and since aged out of the role) as they embark on a death-defying quest to uncover the greatest treasure never found. — Reuters

PLDT group, Domino’s Pizza team up to enhance services

PLDT Enterprise on Monday said it had formed a partnership with DPP Retail, Inc. and DPP Express, Inc. — the companies behind Domino’s Pizza — to boost the restaurant chain’s delivery of services by enhancing network capabilities.

PLDT Enterprise, the corporate business arm of PLDT, Inc., said it is extending different connectivity plans to the pizza chain’s headquarters and stores across the country as part of the partnership deal.

Domino’s Pizza’s headquarters and stores are switching “all their mobile lines to Smart through the newly launched packages of Smart Enterprise Postpaid utilizing 5G (fifth generation), Voice over LTE (long-term evolution) and voice over Wi-Fi network capabilities of Smart,” PLDT Enterprise also said in an e-mailed statement.

According to PLDT Vice-President and Enterprise Revenue Group Head Ding Ventura-Villarino, companies should create a digital environment supported by reliable connectivity, as many transactions are now done digitally.

She noted that the company is developing more technologies aimed at helping enterprises with their digital transformation needs.

Domino’s Pizza said the pandemic forced it “to think of ways to keep the business agile and adjust to the changing demands of its customers.”

“With the onset of the lockdown, we experienced growth on online deliveries hence a strong and reliable internet connection is essential for us to operate efficiently,” Domino’s Pizza General Manager Rea Cruz said.

“A few minutes of downtime means losses for the business. We had experienced this before, but now we are confident with the capabilities of PLDT Enterprise in enabling our restaurants to stay connected to keep our customers always satisfied.”

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin

RCBC raises P14.76B via sustainable bonds

BW FILE PHOTO

RIZAL COMMERCIAL Banking Corp. (RCBC) on Monday said it raised P14.756 billion through its offer of sustainability bonds.

The bank’s offer of ASEAN (Association of Southeast Asian Nations) sustainability bonds was oversubscribed by nearly five times from the planned P3-billion issue size amid strong demand from investors, RCBC said in a statement.

The 2.25-year papers maturing in 2024 carry a coupon rate of 3% per annum. They were offered from Jan. 31 to Feb. 11 and were listed on the Philippine Dealing and Exchange Corp. on Monday.

“The proceeds from the offer will be used to support asset growth, refinance maturing liabilities and other general funding purposes in line with the bank’s Sustainable Finance Framework,” the bank said.

The bank’s sustainable finance framework has been certified by Sustainalytics, an independent environmental, social, and governance research and ratings provider.

The Hongkong and Shanghai Banking Corp. (HSBC) was the sole lead arranger for the transaction. HSBC also served as a bookrunner alongside RCBC Capital Corp., which was the financial advisor for the offering. Both HSBC and RCBC were also selling agents for the papers.

The offering marked RCBC’s seventh foray into the peso bond market and brings the total amount raised by the lender via issuances since 2019 to P86.8 billion.

Prior to the latest issuance, RCBC raised P17.87 billion through an ASEAN sustainability bond offering in 2021.

Aside from sustainability-linked bonds, RCBC has also been offering green time deposits to fund its sustainable asset portfolio.

The bank’s net income more than doubled to P2.01 billion in the third quarter of 2021 from a year earlier as it booked higher earnings from its core businesses. This brought RCBC’s nine-month net profit higher by a third to P5.338 billion.

The Yuchengco-led lender’s shares closed at P20.90 apiece on Monday, down by 45 centavos or 2.11% from its previous finish. — L.W.T. Noble

Is the leisure sector ripe for a rebound?

BW FILE PHOTO/ KOALA CRUZ

Colliers Philippines is starting to see green shoots of recovery in the hotel and leisure segment. Many Filipinos are raring to spend and travel after two years. But the questions remain, are these growth indicators enough to enable the sector to regain lost ground? How has the segment evolved? And will local and foreign tourists’ preferences change as a result of the pandemic?

Data from the Philippine Statistics Authority (PSA) showed that spending in the restaurants and hotels segment grew by 5.1% in 2021 from a 43.1% contraction in 2020. Meanwhile, the gross value added (GVA) for land, water and air transport saw a turnaround with an average growth of 3.5% in 2021 from a 39.3% drop in 2020. The easing of mobility restrictions has also propelled hotels and other tourism establishments’ operations due to larger operating capacities.

Previously, Colliers noted that recovery in the hotel segment is likely to be driven by domestic travel, followed by corporate travel, extended leisure with the easing of international travel restrictions, with Meetings, Incentives, Conferences and Exhibitions (MICE) activities recovering the slowest. Projections from International Air Transport Association (IATA) show that the domestic travel demand is likely to reach 93% of pre-COVID levels in 2022 while international travel demand will likely reach 44% of pre-pandemic level this year.

While the demand for international travel remains sluggish, the Department of Tourism (DoT) shifted its efforts to reviving local tourist destinations such as Palawan, Cebu and Boracay. The department also ramped up its vaccination drive to inoculate workers from various tourism-related industries. As of the end of 2021, about 282,780 workers or 88% of the 325,489 workers have been inoculated against Covid. 

The results from our Q4 2021 Property Briefing Survey showed travelers’ preference to visit local tourist destinations once the government lifts all travel restrictions. Travelers are likely to visit beaches as 47% of those surveyed chose Palawan as their top destination, followed by Boracay (33%).

To prepare for the anticipated rebound in demand, Colliers Philippines has provided some recommendations on how hotel operators and other tourism stakeholders can maximize the pent-up demand and kickstart recovery:

REPURPOSE FACILITIES INTO PRIVATE OFFICES AND FLEXIBLE WORKSPACES
Traditional and outsourcing firms’ implementation of alternative work schemes has enabled hotel operators to be agile with their services. For one, some hotel brands have started to convert and repurpose their facilities into private offices and flexible workspaces provided that they comply with the government-mandated health and safety protocols.

Colliers believes that demand for these facilities is likely to grow, given that more firms are willing to implement remote work schemes. Hotels also do not require long-term lease obligations while offering round-the-clock services and on-site amenities to guests. During our Q4 2020 Briefing survey, 66% of the respondents said that they are willing to work in a hotel room converted into a co-working/flexible workspace.

IMPLEMENT STAFF TRAININGS AND REFRESHER PROGRAMS
Informing staff of the new protocols and guidelines in cleaning practices in common areas and hotel rooms, proper food and beverage (F&B) etiquette and maintaining sanitary food preparation. Colliers believes that these will ensure a seamless, efficient, and safe hotel experience for guests under the new normal.

INTRODUCTION OF HYBRID MICE
One of the segments hardest hit by the pandemic is the MICE industry. In our view, hotel operators and other tourism stakeholders should look at the viability of implementing hybrid MICE events or a mix of physical and virtual participants. We believe that this should partly buoy the MICE segment which heavily suffered due to limited face-to-face events.

Surprisingly, about 57% of the respondents during our Q4 2021 briefing said that they are now willing to attend a face-to-face event or convention in a five-star hotel while 43% said otherwise. This is an improvement from our Q2 2021 survey result in which 80% of our respondents said that they are still not confident to attend face-to-face events.

Overall, we see the hotel sector gearing up for a rebound. The gradual easing of local and international travel restrictions and improving vaccination rates should shed light on the leisure sector’s recovery. While the pandemic has changed the way people interact and live, the hospitality and tourism segment must respond, prepare and look ahead to be able to thrive in a post-COVID environment.


Alfonso Martin L. Aguila is a senior research analyst at Colliers Philippines. He covers office, residential, leisure, retail, and industrial sectors.

Pro league takes a break while FIBA window in play

Leg 2 of PBA Second Conference 3×3 set for March 5-6

PBA 3×3 Second Conference Leg 1 winner TnT and its rivals get more buildup time for the next battle with the league taking a break this week while the FIBA international window is in play.

“Leg 2 of the Philippine Basketball Association (PBA) 3×3 will be set on March 5 and 6, Saturday and Sunday,” PBA 3×3 chairman Dicky Bachmann said.

The pro league is giving way to the Smart Araneta Coliseum’s hosting of the International Basketball Federation (FIBA) World Cup Asian Qualifiers games from Feb. 24 to 28.

After holding the games at the Big Dome, the PBA has booked its Governors’ Cup on Wednesday to Sunday hostilities at the Ynares Center in Antipolo City for this week.

Tomorrow’s double-header featuring Alaska versus NLEX and San Miguel Beer against Phoenix marks the first PBA games there since TnT and Meralco played the deciding game of their Governors’ Cup semifinal series on Dec. 23, 2019.

The three-a-side hoopfest, which holds matches in the mornings, won’t be following the 5×5’s Ynares-Antipolo swing. Instead, the PBA 3×3 will join the Governors’ Cup when it returns to the Quezon City venue in early March, taking its old weekend slot.

The PBA 3×3 kicked off its second tournament over the weekend with 13 teams, including debuting guest squad Master Sardines, in a spirited fight.

Tropang Giga crew Almond Vosotros, Samboy de Leon, Lervin Flores and new recruit Rey Mark Acuno reigned supreme, beating Meralco in the first leg finale, 21-19, to cap an unbeaten run.

“First leg pa lang ito; kailangan pa namin magtrabaho to be a better team sa mga susunod,” said Mr. De Leon. — Olmin Leyba

Entertainment News (02/22/22)

Mike Sandejas, Francis Reyes on Muni-Muni Stories

ON EPISODE 8 on the 2nd season of the Muni-Muni Stories podcast, film director Mike Sandejas and musician Francis Reyes discuss the film Tulad Ng Dati (2006). The film blends fiction and biography to dramatize the life of the OPM band The Dawn. The movie charts the band’s struggle to make the dream of having a new hit come true. The film also honors rock icon and The Dawn guitarist Teddy Diaz, who passed away in 1988. The film’s director, Mr. Sandejas, and the band’s current guitarist, Reyes (also a DJ, podcast host, and music journalist) reflect on the titular song, gaining new meaning in the interval between then and now. The second season of Muni-Muni Stories, a podcast co-produced by Filipinas Heritage Library and Podcast Network Asia, features many heavyweights in the film and music industries talk about official soundtracks (OSTs) in Pinoy movies. Muni-Muni Stories Season 2 is exclusively available on Spotify. For updates, follow Filipinas Heritage Library and Podcast Network Asia on Facebook, Twitter and Instagram.

Sustainable wooden toy brand opens LazMall store

A PURVEYOR of wooden toys for children, Tooky Toy Philippines officially opens its first flagship store in LazMall on Feb. 23. Tooky Toy started with a dream to make the best wooden toys possible. The brand looks for innovative and creative ways to take ordinary objects and turn them into timeless and durable wooden toys. From material to production, all toys are manufactured using eco-friendly processes in every step of production. All Tooky Toy have met and, in most cases, exceed the strictest international toy safety standards. Each Tooky Toy is made of wood from sustainable forests, using only organic pigments, water-based dyes, and non-formaldehyde glue, so every Tooky Toy tea set or musical toy is made not only with the safest standards for the environment, but for children too. Tooky Toys are categorized as: Pretend Play, Educational, Push & Play, Music, Infant, and Puzzle. There will be limited edition and launch-exclusive bundles and Tooky Toys at LazMall on Feb. 23. For more information visit www.tookytoy.ph.

TBA joins Yuchengco’s inaugural online film fest

TBA STUDIOS will showcase some of its critically acclaimed works at Yuchengco Museum’s first online film festival. Beginning Feb. 22, viewers can watch a variety of titles from renowned directors as well as up-and-coming student filmmakers for free, during the seven-day online film fest called Y2M (Yes2Movies), which will run until Feb. 28. The films will be available on yfilms.ph, a digital platform for access to quality local movies. Among the TBA Studios titles in the festival are the historical epic Heneral Luna, quirky romcom I’m Drunk, I Love You., award-winning drama Women of the Weeping River, romantic film Write About Love, and TBA Studios’ latest, Habambuhay: Remembering Philippine Cinema. In addition, the Y2M filmfest will also show five films from this year’s batch of student films (features and shorts) from CineMapua. Schools and students nationwide are encouraged to submit their films for archiving in Yuchengco Museum’s yfilms.ph website. Y2M is available globally and will be accessible 24 hours a day for free on the yfilms.ph website.

Clara Benin joins Spotify’s EQUAL campaign

A MONTH ahead of International Women’s Day, Filipino singer-songwriter Clara Benin landed on a Times Square, New York billboard as part of Spotify’s EQUAL Campaign. The global campaign, an initiative of the music streaming platform to amplify the work of outstanding women and gender-nonconforming musicians, turned its spotlight on Benin as this week’s cover artist of Spotify EQUAL Playlist in the Philippines, with two of her songs, “blink” and “Araw’t Gabi,” occupying the top two slots. “I feel really humbled to be featured on a Times Square billboard in New York and to have my songs be part of Spotify’s EQUAL playlist alongside these lovely and talented women,” Ms. Benin said in a statement. “I really hope our music reaches and inspires more people from all over the world.” Having amassed more than 30 million streams on Spotify, Ms. Benin is the first Filipino signed under Sony Music’s OFFMUTE, a Southeast Asian record label. Ms. Benin recently released “blink,” which was produced by electronic/indie artist The Ringmaster, and features Gabba Santiago on drums. The song is available to stream on all digital music platforms via OFFMUTE.

Eddie Benjamin releases new single

AUSTRALIAN singer-songwriter, producer, and instrumentalist Eddie Benjamin introduces his upcoming debut album with new single, “Weatherman.” A defiant call for optimism in troubling times, the singer imbues his message of hope with old-school soul. “Weatherman” is out now on all digital music platforms worldwide.

Saweetie and H.E.R. collaborate on single

GRAMMY-nominated star Saweetie teams up with R&B artist H.E.R. on a new single, “Closer.”  The two Fil-Am stars also released the song’s music video on Feb. 15. In the music video, directed by Hanna Lux Davis, Saweetie and H.E.R. go on a trip around the world, with Saweetie stopping at Paris, Tokyo, and the Philippines. Listen to “Closer” on ICY/Warner Records at Saweetie – Closer (feat. H.E.R.) – Single (lnk.to).

Stranger Things returns in May

NETFLIX’S Stranger Things returns for its fourth and final season with Volume 1 premiering on May 27, and Volume 2 on July 1. When the new season starts, it has been six months since the Battle of Starcourt, which brought terror and destruction to Hawkins. Struggling with the aftermath, the friends are separated for the first time — and navigating the complexities of high school hasn’t made things any easier. Since its release in 2016, the global phenomenon Stranger Things has garnered over 65 award wins and 175 award nominations, including those from the Emmys, Golden Globes, Grammys, SAG, DGA, BAFTA, the People’s Choice Awards, MTV Movie & TV Awards, and many others. Stranger Things is created by The Duffer Brothers and is produced by Monkey Massacre Productions and 21 Laps Entertainment.

GMA comedy show features Guinness World Records

GMA NETWORK presents its newest comedy infotainment program, THE BEST KA! Featuring Guinness World Records Best of the Best, hosted by Mikael Daez. The program includes the stories of world-record holders and also features local individuals and their remarkable traits or achievements. The show airs every Sunday, 3:50 p.m., on GMA Network.

Sparkle introduces new love teams

GMA NETWORK’S talent management arm’s first project for the year in January was the launch of Sparkle’s “Next Brightest Stars for 2022.” This month, Sparkle introduces five love teams: Kyline Alcantara and Mavy Legaspi, Sofia Pablo and Allen Ansay, Althea Ablan and Bruce Roeland, Shayne Sava and Abdul Raman, and Zonia Mejia and Jamir Zabarte. The duos will be starring in upcoming shows on GMA.

DoubleDragon plans offering of $75-M bonds in SGX

DOUBLEDRAGON Corp. said its wholly owned offshore unit DDPC Worldwide Pte. Ltd. is planning to conduct a Registration S tap offering of its bonds listed at the Singapore Exchange Securities Trading Ltd. (SGX-ST).

“DoubleDragon seeks to increase [the] diversification of its funding sources as it prepares itself to grow its business operations inside and outside the Philippines over the long-term,” the company said in a disclosure on Monday.

DDPC Worldwide engaged UBS AG Singapore Branch to arrange a series of fixed-income investor calls starting on Monday.

The company said a Registration S tap offering of DDPC Worldwide’s outstanding $75-million senior guaranteed notes due 2025 with a 7.25% rate “may follow, subject to market conditions.”

“Any bonds issued pursuant to the Tap Offering will be consolidated with and increase the outstanding principal amount of DDPC Worldwide’s existing listed maiden USD Bonds listed on the SGX-ST,” DoubleDragon said.

The company said proceeds from the tap offering will be used to refinance certain obligations, repay short-term credit facilities, and fund DoubleDragon’s Hotel 101 expansion, and for general corporate services.

Last week, DoubleDragon said its Hotel 101 Worldwide Private Ltd. is preparing to launch its first hotel project outside the Philippines. It is planning to acquire the first property for development in Asia by the second quarter of this year, which will then be launched by the second half of 2022.

On Monday, shares of DoubleDragon at the stock exchange went up 1.37% or 14 centavos to close at P10.38 apiece. — Keren Concepcion G. Valmonte

Amendments to PDIC charter seen to strengthen local banking system

THE PASSAGE of a bill amending the Philippine Deposit Insurance Corp. (PDIC) charter will strengthen the country’s banking system as it will improve its coordination with the regulator and streamline its operations.

“This move is logical considering that the PDIC deals with deposit insurance for banks and the BSP (Bangko Sentral ng Pilipinas), as the country’s central bank, sets the monetary policy and has financial supervision over the banks. This will result in better coordination between the two bodies,” Senator Juan Edgardo M. Angara, the author and sponsor of the bill, said in a statement.

Under the reconciled version of the amendments currently awaiting the signature of President Rodrigo R. Duterte, the agency’s supervision will be transferred to the BSP from the Finance department. The governor of the BSP will serve as the chairperson of the PDIC board, while the Finance secretary, who previously served as ex-officio chairperson of the board, will act as the vice-chairperson.

Mr. Angara, who chairs the Senate Finance Committee, said this was done to ensure the collaboration between the two agencies becomes more efficient, and to prevent the possible overlapping of their functions.

Some products and arrangements of Islamic banks under the PDIC, in accordance with Republic Act 11439 or the law providing for the regulation and organization of Islamic Banks, are also included in the amendments.

The PDIC may also establish separate insurance funds and arrangements in consideration of Islamic banking rules.

Mr. Angara said the PDIC will continue to insure deposits of at most P500,000 but once the bill is passed, the board may increase the maximum deposit insurance coverage to an amount indexed to inflation or in consideration of other economic indicators as deemed appropriate. The PDIC board is mandated to review the maximum deposit insurance coverage every three years. 

Bank records may only be examined if there is a finding of fraud or unsafe banking deposits, he said.

The PDIC may also convert the assets of the closed bank to cash once a bank is under receivership. The amendments also allowed the selling of these assets to a Financial Institutions Strategic Transfer Corporation in accordance with current laws.

“Our hope is that with these amendments to the PDIC charter, we help strengthen and make more resilient our banking sector, which will most definitely play a critical role in the coming years as we try to recover in the wake of the pandemic,” Mr. Angara said. — A.N.O. Tan

How PSEi member stocks performed — February 21, 2022

Here’s a quick glance at how PSEi stocks fared on Monday, February 21, 2022.

Philippines slips in labor resilience ranking

Philippines slips in labor resilience ranking

Next admin urged to make major budget commitment to housing

PHILSTAR FILE PHOTO

SOCIALIZED HOUSING needs to be a budget priority for the next government after the current funding emphasis on transportation and public works projects, the head of a social policy institute said.

The average share of housing in the national budget between 2016 and 2022 was about 0.3%, Institute for Leadership, Empowerment, and Democracy Executive Director Zy-za Nadine Suzara said at a webinar on Thursday, while infrastructure projects usually account for nearly a quarter of the government’s spending plan.

The last time the government gave the housing sector 1% of the national budget was in 2016, in response to shelter needs after Typhoon Yolanda, she said. The housing budget as a share of government spending had since declined.

“Malaki ’yung pangangailangan, so hindi pwede maging dahilan ng NHA at ng iba pang housing agencies na hindi nila kayang gumastos. Kasi kung ba-budget lang ’yung DBM ng sa kaya nilang gastusin, papaano nila mapupunan ’yung pagkukulang para dun sa urban poor communities? (Demand is huge, so the National Housing Authority and other housing agencies cannot say that they cannot spend. If the Department of Budget and Management only gives them a budget based on what they can spend, how can they fill the needs of urban poor communities?),” she said.

According to her analysis, P292 billion of the 2022 national budget has still been allocated to local projects — such as roads and bridges — despite the planned devolution of local infrastructure projects this year.

To address the problem, she said socialized housing needs to be included in the government’s broader infrastructure program and take a larger share of fiscal space.

The government, which funds housing for the police and the military, should be able to fund support for informal settlers in dangerous areas, Ms. Suzara added.

“There is a need to prioritize the most marginalized in the pipeline of programs.”

Terry L. Ridon, convenor of infrastructure think tank InfraWatchPH, said via messenger that funding for social housing in the past two administrations plateaued at a rate that cannot address the backlog adequately.

“A new administration should decisively resolve this by exponentially raising the funding for the housing sector,” he said on Monday. “Correspondingly, the absorptive capacity of agencies to implement this increased funding should be improved to ensure no wastage of funds.”

The Department of Human Settlements and Urban Development last week reported that the government produced and financed over a million housing units from 2016 to 2021. — Jenina P. Ibañez

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