By Cai U. Ordinario/Business Mirror
RAPID urbanization is one of the biggest challenges faced by the housing sector today and will be facing in the years to come, according to the National Economic and Development Authority. By 2030 or in less than 20 years, Neda Deputy Director General Rolando Tungpalan said 65 percent of the Philippines will be urbanized. In 2010 he said a lesser 49 percent of the country is considered urban.
“We want to slow that down. You know urbanization is inevitable but as the updating of the plan [Philippine Development Plan] is focusing on specific geographic areas and sectors like agribusiness and tourism, which is outside of Metro Manila, you actually create attractive locations,” Tungpalan said. The national government is urging developers to undertake housing projects in areas outside of Metro Manila to help boost growth in the agribusiness and tourism sectors.
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