STATE-OWNED Pag-Ibig Fund and the Department of Human Settlements and Urban Development (DHSUD) have been partnering with developers to make housing more accessible and affordable under the government’s Expanded Pambansang Pabahay para sa Pilipino (Expanded 4PH) Program.
Under a memorandum of understanding, qualified Pag-Ibig members will have access to financing opportunities for selected Federal Land Inc.’s residential projects, linking the developer’s housing supply with government-backed financing.
Federal Land president Jose Mari Banzon said the company would establish a dedicated business unit to process Pag-Ibig housing loans, in a move intended to facilitate financing for prospective buyers.
“Federal Land is committed to work with DHSUD and Pag-Ibig Fund to allow Filipino families to achieve their dream of owning their own home,” Banzon said.
The agreement was signed during the second National Housing Expo organized by DHSUD and Pag-Ibig Fund, as the government seeks to strengthen private-sector participation in addressing the country’s housing needs.
Pag-Ibig Fund chief executive officer Marilene Acosta said partnerships with property developers are important to expanding housing opportunities, particularly as affordability remains a key consideration for prospective homeowners.
“While finding the right home is important, making it affordable matters just as much,” Acosta said, adding that the partnership is expected to expand housing choices and create more opportunities for Pag-Ibig members to own homes.
For Federal Land, participation in the Expanded 4PH Program provides a channel to reach qualified buyers through institutional financing, while its dedicated loan-processing unit is intended to help facilitate the financing process.
Federal Land is the real estate arm of GT Capital Holdings with portfolio spanning residential, commercial, retail, office, hospitality and master-planned developments across Metro Manila, Laguna, Cavite and Cebu. / KOC