‘Yorme’ inks deal reinvesting housing beneficiary contributions
Domagoso cited that the arrangement reinvests money entrusted to the city by housing beneficiaries rather than general taxpayer revenue.
MANILA Mayor Francisco ‘Isko Moreno’ Domagoso and Land Bank Trust Banking Group Vice President Atty. Mario S. Sabino Jr. sign a trust agreement establishing a dedicated fund for the capital’s housing initiatives. Under the agreement, the arrangement will exclusively finance, manage, and disburse funds for the City of Manila’s vertical and horizontal housing and settlement programs.
Photograph courtesy of Manila Public Information Office
Manila City Mayor Francisco “Isko Moreno” Domagoso and Land Bank of the Philippines (LandBank) Vice President Atty. Mario Sabino Jr. signed an agreement to grow the city’s housing fund and support its in-city vertical housing initiative.
The agreement authorizes the city government to invest approximately P50 million from the Manila Urban Settlements Office Housing Trust Fund through LandBank. The capital comes directly from mandatory monthly contributions paid by beneficiaries of the city’s vertical housing projects
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City Housing Investment Committee members operated under Resolution No. 598, Series of 2026, which authorized negotiations with LandBank to invest available trust fund resources. The fund serves exclusively to finance, manage, and disburse resources for municipal housing programs.
Domagoso cited that the arrangement reinvests money entrusted to the city by housing beneficiaries rather than general taxpayer revenue.
He characterized the agreement as part of a long-term strategy to expand vertical housing opportunities for informal settlers and renters in Manila.
City Treasurer Atty. Paul Vega, City Administrator Eduardo Quintos XIV, and City Legal Officer Atty. Luch R. Gempis Jr. witnessed the signing ceremony.