Category: Business Mirror

Leading the Elderly Filipino Week 2025 celebration at SM Mall of Asia, SM Cares, the corporate social responsibility arm of SM Supermalls, and the National Commission of Senior Citizens (NCSC) honored the pivotal role of Filipino seniors in nation-building, while advocating for their continued inclusion and empowerment.

With the theme ‘Embracing Age: Living a Life with Dignity and Purpose,’ the event gathered hundreds of senior citizens and partner organizations for a day filled with wellness activities, recreation, and meaningful engagement. The program featured a Eucharistic celebration, a Walk for Life, uplifting messages from senior citizen advocates, and a lively Zumba session that highlighted the energy and vitality of the elderly community.

Wellness booths offering free services -including medical consultations, massage and acupuncture, eye care, and e-government ID registration – were set up around the venue, providing participants with access to programs that promote health, inclusion, and continuous learning.

‘Our seniors have given so much to their families and communities. Through Elderly Filipino Week, SM Cares reaffirms its commitment to championing the welfare of our elderly, making sure they feel celebrated, supported, and empowered,’ said Engr. Bien C. Mateo, SM Cares Program Director for Senior Citizens.

‘We are deeply grateful to SM Cares for walking hand in hand with us in celebrating and empowering our senior citizens through meaningful activities like this,’ shared Ana Marie C. Calapit, Acting Executive Director of the National Commission of Senior Citizens.

This year’s celebration once again reinforced SM Supermalls’ commitment to inclusivity by fostering spaces where generations can meaningfully connect. It also highlighted the importance of building supportive communities for seniors – both within the mall and in the broader society.

For years, SM Cares has been at the forefront of programs for senior citizens, from barrier-free mall facilities, emergency preparedness forums to social development initiatives. Through Elderly Filipino Week 2025, SM Cares continues to highlight the invaluable contributions of seniors while promoting wellness, dignity, and purpose at every stage of life.

Celebrating 40 super years

SM Supermalls-one of Southeast Asia’s largest mall developers with 88 malls in the Philippines – marks four decades of growing with Filipinos and becoming a trusted space where diverse lifestyles and generations connect, while continuously evolving to redefine the malling experience through sustainability, innovation, and a deep commitment to shaping the future of retail and urban life with inclusive and meaningful experiences.

PHILIPPINE conglomerates San Miguel Corp. (SMC) and Ayala Corp. are among the world’s best employers, according to a list compiled by Forbes magazine.

Of the nine Philippine firms that made it to this year’s edition of Forbes’ World Best Employers, only SMC landed in the top 50. The diversified conglomerate was ranked 42nd.

The eight other top Philippine employers are Ayala (139th), Metrobank (154th), Land Bank of the Philippines (187th), LT Group Inc. (421st), Century Pacific Food Inc. (453rd), Jollibee Foods Corp. (455th), BDO Unibank Inc. (585th) and Cebu Pacific (770th).

To determine the list, Forbes said it partnered with market research firm Statista to survey more than 300,000 employees in over 50 countries.

‘The surveys, which were conducted online, were independent of any corporations so that participants could remain anonymous. Survey respondents were asked where they worked via an open-ended question with an autofill option, and corporations were eligible for this ranking if they employed more than 1,000 people and operated globally.’

The participants noted how likely they were to recommend their employer to family and friends, and rated the company on such criteria as salary, career advancement opportunities, work-life balance and company reputation.

‘Survey respondents could also evaluate former employers (within the past two years) and companies they knew through their own industry knowledge and through friends and family who worked there.’

The responses were then tallied and put through a scoring system that included data from the previous three years, with heavier weight given to the more recent data and to the evaluations from current employees.

‘The corporations that earned the highest scores made our final ranking. And while the number of honorees per country varied based on the population and qualifying companies in each area, ultimately 900 companies made our list of the World’s Best Employers 2025,’ Forbes said.

THE US Supreme Court on Monday refused to protect Google from a year-old order requiring a major makeover of its Android app store that’s designed to unleash more competition against a system that a jury declared an illegal monopoly.

The rebuff delivered in a one-sentence decision by the Supreme Court means Google will soon have to start an overhaul of its Play Store for the apps running on the Android software that powers most smartphones that compete against Apple’s iPhone in the US.

Among other changes, US District Judge James Donato last October ordered Google to give its competitors access to its entire inventory of Android apps and also make those alternative options available to download from the Play Store.

In a filing last month, Google told the US Supreme Court that Donato’s order would expose the Play Store’s more than 100 million US users to ‘enormous security and safety risks by enabling stores that stock malicious, deceptive, or pirated content to proliferate.

Google also said it faced an October 22 deadline to begin complying with the judge’s order if the Supreme Court didn’t grant its request for a stay. The Mountain View, California, company was seeking the protection while pursuing a last-ditch attempt to overturn the December 2023 jury verdict that condemned the Play Store as an abusive monopoly.

In a statement, Google said it will continue its fight in the Supreme Court while submitting to what it believes is a problematic order.

‘The changes ordered by the US District Court will jeopardize users’ ability to safely download apps,’ Google warned. Google had been insulated from the order while trying to overturn it and the monopoly verdict, but the Ninth Circuit Court of Appeals rejected that attempt in a decision issued two months ago.

In its filing with the Supreme Court, Google argued it was being unfairly turned into a supplier and distributor for would-be rivals.

Donato concluded the digital walls shielding the Play Store from competition needed to be torn down to counteract a pattern of abusive behavior.

THE Anti-Money Laundering Council (AMLC) has so far frozen a total P4.67 billion worth of assets linked to alleged anomalies in flood control projects (FCP), after securing its sixth freeze order from the Court of Appeals.

In a statement on Friday, the AMLC said the latest order covers 39 bank accounts, four insurance policies and 59 real estate properties, including residential, commercial and agricultural assets.

Some of these properties are connected to a former high-ranking government official suspected of playing a central role in the procurement of questionable flood control contracts.

‘We are taking deliberate actions to preserve assets potentially linked to unlawful activity,’ AMLC Executive Director Atty. Matthew M. David was quoted in the statement as saying.

‘Our focus remains on ensuring that public funds are protected and that those involved are held accountable through lawful and transparent processes,’ David added.

This sixth freeze order builds on earlier directives that already immobilized 1,671 bank accounts, 58 insurance policies, 163 motor vehicles, 99 real properties and 12 e-wallet accounts.

Collectively, these frozen assets amount to a total of P4.67 billion, with the AMLC anticipating the figure to increase as additional orders are secured and new leads are uncovered.

Last October 8, the AMLC received its fifth freeze order from the CA covering several bank accounts, linked to persons-of-interest, including an entity whose license had allegedly been used in implementing ghost projects.

Moreover, the AMLC said it is coordinating closely with the Independent Commission for Infrastructure, the Office of the Ombudsman, the Bureau of Internal Revenue and the National Bureau of Investigation.

‘The multi-agency effort includes a review of individuals and entities flagged during recent Senate hearings, underscoring the government’s commitment to a thorough and impartial inquiry,’ it said.

With the freeze order, banks can now examine their systems, determine the amounts stored in the covered accounts and report these to the AMLC.

According to David, the freeze order is a step toward the filing of civil and criminal cases, including efforts to recover funds possibly moved before the directive took effect.

The freeze order can only be lifted if the account or asset owners file a motion to lift the effects of the freeze order over their accounts or assets.

SPECIAL Envoy on Transnational Crime Markus Lacanilao, known for his role in the turnover of former President Rodrigo R. Duterte to the International Criminal Police (Interpol) to face charges before the International Criminal Court (ICC) earlier this year, was named as the new chairman of the Land Transportation Office (LTO).

His new designation is part of the recent major leadership revamp initiated by President Ferdinand Marcos Jr. in three attached agencies of the Department of Transportation (DOTr).

Palace Press Officer Claire Castro announced on Friday that Lacanilao will replace Vigor Mendoza II as the new head of the LTO.

Lacanilao made it to the headlines after he was held in the Senate in April for contempt after he maintained he has no knowledge if Duterte was presented before the courts before he was turned over to the Interpol.

Duterte is currently detained at the Hague, where he is facing crimes against humanity charges before the ICC in connection with the deaths of at least 6,000 drug suspects in the bloody anti-criminality campaign of his administration.

Mendoza was designated as the new chairman of the Land Transportation Franchising and Regulatory Board (LTFRB).

Mendoza has been a board member of the LTFRB and a former representative of the 1-United Transport Alliance Koalisyon (1-UTAK) party-list.

Outgoing LTFRB chair Teofilo Guadiz III was transferred to the Office of Transport Cooperatives (OTC) as its new head.

Guadiz was temporarily suspended in 2023 due to an allegation by former LTFRB executive assistant Jeffrey Gallos Tumbado that he was involved in corrupt practices within the agency. He was later reinstated to his post after Tumbado recanted his initial claims against him.

As of press time, Malacañang has yet to disclose the reason for the latest leadership revamp in the attached agencies of DOTr.

The Active Group of Companies has unveiled Town and Country Rosario, an 18.8-hectare residential community development in Batangas positioned to cater to families seeking planned communities and investors looking to tap the area’s rising real estate potential.

‘Our market is really people who want something more, a higher standard of living,’ Arch. Antonio ‘Toti’ Turalba, President and CEO of Active Group told BusinessMirror in an email interview.

According to Turalba, the project is planned to offer families a secure, well-laid-out community with room to grow and amenities that enhance daily life.

For investors, he said the site’s location in Rosario-strategically located near Lipa and Batangas City, and within reach of the STAR Tollway that links directly to Metro Manila-offers strong potential for appreciation. Its accessibility to major cities and road networks positions it as an attractive choice for those seeking long-term growth.’

‘Whether you’re building a home for your family or securing a smart investment, it is designed for people who aspire to a higher quality of life,’ Turalba said.

He added, ‘Property prices here are still more affordable compared to those cities, which means there’s more room for appreciation.’

Rosario, classified as a first-class municipality, covers 226.88 square kilometers-about 7.27 percent of Batangas’ total land area. It is part of the Batangas Bay region, which includes 11 municipalities and two cities that drain into Batangas Bay.

Turalba stressed that Rosario offers larger lot sizes and planned community features at a lower entry cost than more developed urban centers, while still holding strong growth potential as the province continues to expand.

‘Early investment is really about the life you want to create. The right place should give you peace of mind, space to grow, and access to what is important,’ he said.

The Town and Country Rosario, meanwhile, will feature residential lots ranging from 138 to 456 square meters, with landscaped open spaces, parks, and a future clubhouse with a pool and sports facilities.

A commercial hub is also planned near the entrance to provide residents with convenient access to essential services.

‘The idea is to balance generous space with modern conveniences, creating a neighborhood that feels both relaxed and practical for today’s families,’ he emphasized.

The real estate group has developed several of Batangas’ notable residential and leisure estates, including Mount Malarayat Golf and Country Club and Residential Estates, Porto Laiya, and Mozzafiato. It is also the developer of the Town and Country brand, which has built a strong presence in key locations across Luzon and Negros Occidental.

THE House of Representatives on Friday approved the proposed P6.793-trillion 2026 General Appropriations Bill (GAB), or House Bill 4058, on second reading, while implementing a cut to the budget of the Office of the Vice President (OVP).

The lower chamber adopted the recommendations of the Budget Amendments Review Subcommittee (BARC) as amendments to the GAB, including a major adjustment aimed at ensuring transparency in the use of unprogrammed funds.

The 2026 GAB was approved on second reading through viva voce voting.

One of the key amendments is the reduction of the OVP budget, which was proposed by House Deputy Minority Leader of the Mamamayang Liberal (ML) Leila De Lima during the period of individual amendments to the national budget.

‘I proposed an amendment to reduce the OVP’s budget from P889.24 million to its 2025 level of P733.2 million, a cut of P156 million, or 17.5 percent,’ De Lima said, citing GAB Volume I-A, Page 22, Line 19.

She emphasized the principle of accountability in the use of public funds. ‘Every peso in this budget is the people’s money. And when we demand accountability, we do so not out of hostility, but out of duty-duty to the Constitution, duty to the people, and duty to the truth,’ she said.

The lawmaker criticized Vice President Duterte for refusing to appear before the chamber. ‘Her repeated refusal to face this House is an insult. It spits on the duty of accountability while she clings to millions in public funds she refuses to explain. This is arrogance,’ she said, drawing a comparison to a child refusing to account for the family allowance.

‘Congress holds the purse. And when a child squanders the family’s money without answers, the remedy is clear: reduce the allowance until they learn responsibility,’ she added.

The lawmaker clarified that the budget cut is meant as a disciplinary measure, not an attempt to dismantle the OVP. ‘This is discipline, not demolition. Public money is not a toy. It is a trust. And until the vice president learns respect, this House must act as the parent that disciplines a brat,’ she said, contrasting the measure with past actions taken against the Commission on Human Rights.

Unprogrammed appropriations

Also, one of the amendments is the removal of P35 billion worth of infrastructure projects from the 2026 unprogrammed appropriations, a move designed to prevent the misuse of lump-sum funds.

Nueva Ecija Rep. Mikaela Suansing, representing the House Committee on Appropriations, explained that the Department of Budget and Management (DBM) agreed with the House panel’s proposal to exclude infrastructure projects from the Strengthening Assistance for Government Infrastructure and Social Programs (SAGIP) as a safeguard against potential misuse.

She clarified that unprogrammed appropriations are now divided into two categories: SAGIP and support for foreign-assisted projects (FAPs). While infrastructure funding under SAGIP will be removed, projects under FAPs will remain to honor the Philippines’ commitments to foreign and multilateral partners such as the World Bank, Asian Development Bank (ADB), and Japan International Cooperation Agency (JICA).

Also, SAGIP will be now called the Strengthening Assistance for Government Programs (SAGP).

Suansing added that a significant portion of unprogrammed funds previously allocated under SAGIP has already been revised in the second reading of the GAB. Only P45 billion remain under the newly designated Strengthening Assistance for Social Programs (SAGP), primarily earmarked for agricultural subsidies, rice subsidies, and augmented funding for the 4Ps program administered by the Department of Social Welfare and Development.

She noted that FAP infrastructure projects remain under unprogrammed appropriations because they do not yet meet the criteria for inclusion in programmed allocations, which require finalized contracts with international partners and NEDA Board approval.

During the period of individual amendments, Akbayan Rep. Chel Diokno urged the House to eliminate all unprogrammed appropriations, which total P243.22 billion, arguing that if these funds were truly national priorities, they should be included in the programmed budgets of the relevant departments.

However, a motion to reject Diokno’s proposal, supported by the committee and the majority, was approved.

Key agencies

Another set of amendments to the national budget bill adopted by the plenary involves additional allocations for three key sectors: education, health, and agriculture.

Under the proposed amendments, the education sector-which covers the Department of Education (DepEd), Commission on Higher Education (CHED), Technical Education and Skills Development Authority (TESDA), State Universities and Colleges (SUCs), and the Philippine Science High School System (PSHS)-is set to

receive an extra P56.64 billion. This brings the sector’s 2026 budget to P1.36 trillion, or 4.36 percent of GDP, marking the first time it surpasses the 4-percent milestone.

The health sector, including the Department of Health (DOH) and PhilHealth, will see an increase of P92.57 billion. Meanwhile, the agriculture sector-which covers the Department of Agriculture (DA), National Irrigation Administration (NIA), and Department of Agrarian Reform (DAR)-will gain an additional P53.75 billion.

These budget boosts were made possible through the reallocation of P255 billion previously earmarked for flood control projects under the Department of Public Works and Highways (DPWH). Of this, P202.96 billion has been redirected to education and agriculture, with the remainder supporting other government agencies.

Speaker Faustino ‘Bojie’ Dy III on Friday assured the public that the House of Representatives has introduced key reforms to ensure full transparency and accountability in both the crafting and implementation of the proposed P6.793-trillion national budget for 2026.

The General Appropriations Bill (GAB) is targeted for final approval on third reading by Monday, October 13.

SUBIC BAY FREEPORT-With new investments in infrastructure and equipment, port operator Subic Bay International Terminals Corp. (SBITC) is eyeing to increase the combined annual capacity of Subic’s New Container Terminals (NCT-1 and NCT-2) from 600,000 twenty-foot equivalent units (TEUs) to one million TEUs.

International Container Terminal Services, Inc. (ICTSI), the parent company of SBITC, announced this on its website after securing a 25-year extension to operate the NCTs, a critical international gateway for industries in Central and Northern Luzon, including the free ports of Subic and Clark.

ICTSI Executive Vice President Christian Gonzalez signed the agreement extending SBITC’s concession with Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Eduardo Jose L. Aliño on October 3 at the ACEA Subic Beach Resort here.

Gonzalez said SBITC plans to invest over USD$130 million in civil infrastructure and additional equipment as part of its investment and development plan under the extended franchise until 2058.

‘This will further enhance terminal capabilities, boost operational efficiency, and increase the combined annual capacity of the existing 600,000-TEU container port to one million TEUs,’ he said.

He added the SBITC will replace the terminal’s four existing gooseneck-type quay cranes and add one more unit to increase container handling. SBITC will also integrate more hybrid rubber-tired gantry (RTG) cranes in the operation.

‘We are thankful to SBMA for trusting us and treating us as the right partner to continue until 2058,’ Gonzales said in a statement, adding that the extension of the contract ‘represents the trust in ICTSI.’

‘Extending our partnership with SBMA reaffirms ICTSI’s long-term commitment to support trade growth and economic development in Northern and Central Luzon. Our investments will further strengthen Subic Bay International Terminals’ position as a vital gateway, ensuring it remains a competitive and efficient logistics hub well into the future,’ he added.

The SBMA said in a separate statement on Tuesday, October 7, that part of the expansion and upgrades at the NCTs would increase the SBITC’s reefer plug capacity to 1,000 by the end of 2025 to support cold chain logistics.

It also cited recent additions to NCT equipment like near-zero emission (NZE) rubber-tired gantry cranes, tractors, and trailers to improve terminal efficiency.

‘Plans are also afoot at the NCT to automate gate operations by early 2026 and implement a new digital platform for online payments and truck appointments,’ the SBMA added.

THE Commission on Audit (COA) said on Friday it has filed four additional fraud audit reports with the Independent Commission for Infrastructure (ICI), uncovering mismatched construction sites, substandard structures, and ghost projects worth over P359 million in Bulacan province.

The latest reports, filed on Friday, still focused on flood control projects under the Department of Public Works and Highways’ (DPWH) Bulacan 1st District Engineering Office (DEO).

According to the commission, state auditors discovered a pattern across the four projects: DPWH representatives repeatedly ‘redirected’ them to different locations from the approved project sites, offering ‘no explanations’ for the changes.

In one case involving M3 Konstract Corp.’s P96.4-million riverbank protection project in Barangay San Roque, Baliuag, auditors found existing structures at both the approved and redirected locations, but neither matched the contracted project.

The structure at the redirected site already showed defects and cracks, and belonged to an entirely different project.

‘Aside from these findings, DPWH-Bulacan 1st DEO failed to submit a significant number of critical supporting documents to COA. In particular, DPWH-Bulacan 1st DEO submitted conflicting documents regarding the contract cost, variation order amount and name of the actual contractor designated to carry out the variation order,’ the report read.

Likewise, state auditors found that the P92.6-million flood control site in Barangay Manatal, Pandi had no structure at the approved location. The project proponent was SYMS Construction and Trading.

The project was redirected to a different location, but had ‘unfinished structure with exposed steel bars,’ and that there were no workers or equipment at the location during inspection.

According to the auditors, the same was true for another SYMS projects in Balagtas worth P74.1 million: There were no structures on the original site and those that were built on the redirected site ‘utterly failed to meet the project specifications.’

‘COA also discovered that based on DPWH’s own database, the project was tagged as ongoing, yet full payment was already made to the contractor,’ state auditors noted. ‘These findings, taken together, point to the fact that this is a ghost project.’

The fourth project, a P96.4-million riverbank protection structure contracted to Amethyst Horizon Builders, followed a similar pattern: mismatched locations, structures that didn’t conform to approved plans, and missing documentation.

The fraud reports name numerous DPWH-Bulacan 1st District Engineering Office personnel and private contractors as liable parties.

Appearing across multiple reports are former officials, namely: District Engineer Henry C. Alcantara, Assistant District Engineer Brice Ericson D. Hernandez, Planning and Design Chief Ernesto G. Galang, and Engineer John Michael E. Ramos.

For the M3 Konstract Corporation project, those found liable include Alcantara, Hernandez, Engineer Irene DC. Ontingco, Engineer Jaypee D. Mendoza, Galang, Engineer Jefferson S. Buendia, Engineer Prince Earl P. Deocampo, Ramos, and Louis Raphael DG. Tiqui of M3 Konstract Corp., along with the company’s officers and board members.

The auditors listed the following as liable for the two SYMS projects: Alcantara, Hernandez, Galang, Ramos, Ontingco, Buendia, Project Engineer Lemuel Ephraim SD. Roque, Engineer Jolo Mari V. Tayao, Engineer Michelle C. Cruz, and Sally N. Santos of SYMS Construction Trading.

Lastly, for the Amethyst project, the COA listed the following as liable: , Hernandez, Galang, Ontingco, Ramos, Mendoza, Cruz, Engineer Jasmine Jean I. Gonzaga, and Rochelle R. Campos of Amethyst Horizon Builders and Gen. Contractor and Development Corp., along with the company’s officers and board members.

The individuals face potential charges for graft and corruption under the Anti-Graft and Corrupt Practices Act, malversation, falsification of documents under the Revised Penal Code, and violations of COA regulations and the Government Procurement Reform Act.

COA emphasized that the list of liable persons ‘is not final and may expand as the audit progresses, or new information becomes available.’

Since COA Chairperson Cordoba’s directive on August 12, ordering an immediate audit of all DPWH flood control projects in Bulacan covering the period from July 1, 2022, to May 30, 2025, the COA has transmitted 21 reports to the ICI and the Ombudsman.

‘Today’s filing sends an unequivocal message: COA remains relentless in its mandate to safeguard the people’s money and uphold public trust,’ he said.

On Thursday, DPWH Secretary Vince Dizon said the agency has uncovered 421 ghost flood control projects out of the 8,000 initially validated.

To recall, the government started the crackdown on alleged ghost projects after President Marcos Jr.’s State of the Nation Address (Sona) in July.

Since then, investigations into the flood control corruption scandal have implicated numerous lawmakers, contractors, public works officials, and auditors.

Some have been charged with graft and malversation cases.

OF the many insecurities that Filipino households experience -including economic, food, and political-housing insecurity is surely near the top of the list.

Owning a comfortably sized home, preferably in safe, clean, easily accessible communities, with the necessary amenities is one of the main aspirations of Filipino households, according to the survey underpinning the Ambisyon Natin 2040 vision document.

In fact, many Filipino households still live in homes or lots that they do not own. According to the Philippine Statistics Authority’s 2021 Family Income and Expenditure Survey (FIES), for instance, only 71 percent of Filipino households live in homes that they own or for which they have owner-like possession of the house and lot. The other 29 percent report less secure tenure status and could be renting the house/room and lot (8 percent), own the house but not the lot (15 percent), or live rent free with or without the consent of owner (6 percent).

The household surveys like the FIES do not clearly identify informal settlers, but they likely fall not just among those who live rent free, but also among those who report they own the house but not the lot and even those who report they rent a room or a house and lot. The latter is particularly the case for recent internal migrants to dense urban areas.

There is a noticeable urban-rural dimension in housing tenure status, with more households renting and less owning houses and lots in urban areas.

In rural areas, 73 percent own or have owner-like possession of house and lot, only 1 percent rent house/room and lot, 22 percent own the house but not the lot, and the rest live rent free with or without the consent of owner.

In urban areas, 69 percent own or have owner-like possession of house and lot, 14 percent rent a house/room and lot, and 11 percent own the house but not the lot, and the rest live rent free with or without the consent of owner.

Metro Manila is the starkest case, where only 64 percent own or have owner-like possession of house and lot, 26 percent rent, only 4 percent own the house but not the lot, and the other 6 percent living rent free with or without the consent of owner.

Housing insecurity manifests itself not just in terms of tenure status but in the size of the living space. For most local building codes, the standard size for a single-family dwelling is about 30 square meters. This is to accommodate a family with four members, providing it 7.5 square meters per member.

But based on the 2021 FIES, of the 26.4 million households in the country, 8 percent were actually living in homes where the floor area was less than 15 square meters, and another 25 percent in homes where the floor area was less than 30 square meters. In area size per person, 18 percent of households lived in homes where the floor area was less than 5 square meters, and another 10 percent in homes where the floor area was less than 7 square meters.

Taken together, this means about 30 percent to about a third of households in the country did not live in homes that have enough comfortable living space, just based on minimum standards.

These are likely to take a toll on family members, including the development of children. There are studies showing that children from overcrowded homes are more likely to perform worse academically and to be developmentally delayed. It can also take a mental and emotional toll on adult members of the household.

Unfortunately, home ownership, especially in urban areas, is a pipe dream for many Filipino households who do not yet own a house or who want to move to a bigger house.

The Department of Human Settlements and Urban Development (DHSUD) sets official housing price ceilings for eligibility for government housing programs. For socialized subdivision units, the maximum price ceiling is set at P850,000 for a unit with a minimum floor area of 28 square meters. For socialized condominium units with the minimum acceptable size, the DHSUD price ceiling is set at about P1 million. These ceilings will reportedly be increased this month to increase private sector participation in housing projects.

In reality, these prices serve more as a floor as market prices are typically higher.

According to the 2021 FIES, about 12 percent of Philippine households actually spent more than they earned in total income for the year. Such households certainly cannot afford to buy a house or qualify for a loan to buy a house. Of the households who managed to save, 10 percent saved less than P8,000 for the year and 25 percent saved less than P20,000 for the year. Again, such households are unlikely to be able to afford to purchase a house.

In Singapore, which faced mass housing shortages in the 1950s, the housing problem was addressed in large part by a program of subsidized rent for extremely low-income households and subsidized sale for low and middle income households. Singapore’s Central Provident Fund played a role in supporting the government’s housing program.

Can a similar program be implemented in the Philippines? It is certainly worth looking at. It will be financially costly, for sure, but it will also likely be economically profitable, especially in the long run. Imagine if the money wasted on ghost flood control projects went into real housing projects instead.