A complete of two,264 housing items are set to rise in Pampanga, Manila, Misamis Oriental, and Davao Metropolis as Pag-IBIG Fund authorised a P929-million revolving credit score line for the Social Housing Finance Company (SHFC) to fund housing initiatives underneath the federal government’s Pambansang Pabahay para sa Pilipino Housing or 4PH Program, Pag-IBIG Fund’s prime officers introduced Friday (15 December).
“I’m completely happy to report that our key shelter businesses stay united of their mission of bringing alternatives for homeownership nearer to our fellow Filipinos, particularly the underserved. With Pag-IBIG Fund’s approval of a revolving credit score line for the SHFC, we at the moment are higher outfitted to offer our casual settler households (ISFs) with inexpensive housing in a protected setting underneath secured communities, which is what we envision underneath the 4PH Program of President Ferdinand R. Marcos, Jr.,” stated Secretary Jose Rizalino L. Acuzar, who heads the Division of Human Settlements and City Growth (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.
Pag-IBIG Fund’s revolving credit score line for the SHFC shall finance the development of medium and high-rise condominiums underneath the 4PH program consisting of 996 items in San Fernando Metropolis, Pampanga, 352 items in Tondo, Manila, 416 items in Tagoloan, Misamis Oriental and 500 items in Davao Metropolis. To make sure the right and environment friendly use of funds, the revolving credit score line accommodates safeguards which embody the corresponding mortgage collaterals offered by the SHFC, a most cost time period of three (3) years and provisions guaranteeing the discharge of funds for the supposed initiatives.
Pag-IBIG Fund Chief Government Officer Marilene C. Acosta, in the meantime, said that Pag-IBIG Fund’s credit score line for the SHFC is a part of its dedication to the Marcos Administration’s efforts of addressing the housing backlog underneath the 4PH Program.
“Pag-IBIG stands as the only largest supply of house financing within the nation right now, with a share of almost 40% of the house mortgage market. We acknowledge our function in offering the financing for socialized housing initiatives in order that these change into extra accessible and inexpensive for low-income earners. We’re completely happy to companion with the SHFC underneath the Pambansang Pabahay para sa Pilipino or 4PH Program, in order that our ISF communities will now have a greater probability of proudly owning high quality houses in sustainable communities. Our members can anticipate extra comparable partnerships to offer them much more alternatives to personal a house,” Acosta stated.
ADVT.
