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Friday, March 29, 2024

Housing czar signs authorization of TLS to real estate firms

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Department of Human Settlements and Urban Development (DHSUD) chief Eduardo del Rosario on Sunday disclosed that he has signed an order authorizing the issuance of a temporary license to sell (TLS) to developers to sustain vibrancy in the housing sector and contribute to the country’s economic recovery.

He issued Department Order 2021-008 to address the concerns of the private sector on the issuance of other prerequisites from national and local agencies before they can secure a license to sell.

The prerequisites coupled with restrictions in movement brought about by the COVID-19 pandemic pose a substantial delay in the issuance of the letter to sell by the department to housing developers.

“With this order, we expect continuity and sustainment of the vibrancy in the housing and real estate sector. It’s a huge boost to our private developers. Of course, the issuance of TLS comes with strict conditions and guidelines to protect the interest of homebuyers,” Del Rosario said.

The official said,  “a temporary license to sell can address the urgent need of private developers to sell lots and units, thus, in turn, will give premium to the housing sector in aiding the economy to recover faster amid the COVID-19 pandemic.”

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“Our Department will ensure that the interests of homebuyers are protected through the imposition of certain conditions and other requirements before a TLS is issued,” he said.

The measure is part of DHSUD’s proactive steps in helping the housing sector remain robust amid the health crisis, ensure the production of housing units across the country, and provide employment for hundreds of thousands of Filipinos working in the housing and construction industry.

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