CREBA seeks constant talks on HLURB policy on ads

 

The Chamber of Real Estate and Builders’ Association Inc. (CREBA) is calling for a balanced implementation of the Housing and Land Use Regulatory Board’s (HLURB) tightened policy on property ads.

Noel M. Cariño, president of CREBA, made the call following the publication of a statement of the United Print Media Group (UPMG) expressing its opposition to the HLURB’s recently implemented Board Resolution 921, which requires developers to secure prior approval from the agency for their television and print ads.

According to the resolution, only when the HLURB has issued a project’s license to sell and has approved its promotional material can the developer advertise it.

“We support the stand of the HLURB to ensure that buyers’ interest is upheld. But, at the same time, we want a reasonable balance; we want to dialogue constantly, and have workable compromises if there will be a negative impact,” Cariño said in a telephone interview.

The CREBA president conceded there have been complaints from association members on the regulation. However, he said, it is necessary to prevent unscrupulous developers from hoodwinking consumers.

“There was no semblance of regulation and proper disclosure before [this resolution]. Kaming mga legitimate developers and brokers, we are accountable on whatever we print, and we agree that that should apply to everyone,” Cariño added.

Board Resolution 921 earned the ire of the UPMG, which said the regulation “betrays an intolerant view of business and should be rescinded immediately.”

Moreover, the group said property developers have seen a decline in sales, an observation countered by CREBA.  “It has no chilling effect. In fact, it will legitimize the trustworthy operators, and hindi na matatakot bumili ang buying public,” Cariño said.

The CREBA official assured that the policy will not affect the production target of at least 500,000 units a year to address the 5.5 million housing backlog in the country in 10 years.

Board Resolution 921 is essentially the amended implementing rules and regulations of Presidential Decree 957, or the Subdivision and Condominium Buyers’ Protective Decree, covering advertisements.

 

Business Mirror

http://www.businessmirror.com.ph/creba-seeks-constant-talks-on-hlurb-policy-on-ads/