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Business

Temporary permits issued to expedite property sales

Louise Maureen Simeon - The Philippine Star

MANILA, Philippines — The government has allowed the issuance of temporary licenses to sell (TLS) to help private developers fast-track housing projects and contribute to economic recovery.

The Department of Human Settlements and Urban Development (DHSUD) released a department order authorizing the issuance of TLS to developers to address private sector concerns on the grant of other prerequisites from various agencies.

Housing chief Eduardo del Rosario said the prerequisites and mobility restrictions due to the pandemic caused delays in the issuance of the actual license to sell (LS) among developers.

Developers are only allowed and authorized to start selling lots and units after obtaining an LS and the issuance of a TLS will allow them to immediately generate more funding and capitalization for their projects.

However, the issuance of TLS comes with strict conditions and guidelines to protect the interest of home buyers.

The new measure covers all residential, commercial and industrial subdivision and condominium projects, as well as any similar real estate undertakings such as cemeteries, memorial parks and columbaria.

Del Rosario said the order is expected to sustain the housing and real estate sector and provide a boost to private developers.

“A TLS can address the urgent need of private developers to sell lots and units, and in turn will give a premium to the housing sector in aiding the economy to recover faster amid the pandemic,” he said.

DHSUD is mandated to streamline and expedite regulatory processes for new and pending applications for permits, licenses and certificates of registration by developers of subdivision and condominium projects.

The housing agency’s new measure targets to help the housing sector remain robust amid the health crisis, ensure the production of housing units across the country, and provide employment for Filipinos.

Developers may be issued a TLS pending the issuance or submission of the project’s building permit and other related permits, environmental compliance certificate or a verified survey return, as may be applicable.

The new order’s terms and conditions include the validity of the TLS for one year from the date of release and that TLS holders shall submit a monthly report of sales and project operations.

Any project applying for the issuance of a TLS, except for socialized housing projects, will be required to comply with existing rules and regulations pursuant to the Balanced Housing Development Program.

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