Preamble
WHEREAS, the Philippine Constitution provides the State shall establish, maintain and ensure adequate social services in the field of housing to guarantee the enjoyment of the people of a decent standard of living; WHEREAS, the housing problem of the country has grown into a critical magnitude requiring the immediate and concrete institution of measures which can meet the needs of Filipino families for decent dwellings; WHEREAS, the need to resolve the housing problem therefore calls for a joint venture between the government and the private sector; WHEREAS, it is incumbent upon the Government to harness and promote housing ventures in terms of capital expenditures, land, expertise and financing including the provision for incentives and facilities to broaden the private sector participation in housing investment; WHEREAS, there are domestic corporations and partnerships which are willing or already have plans to provide housing accommodations for their employees and workers but are stymied by financial difficulties particularly by the inability of their employees and workers to pay the amortization or rental rates (in the case of company housing) even at subsidized rates; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution do hereby decree and order the following: