Iloilo City inks P2.54B housing deal
The project is part of the city’s broader inclusive housing initiative, which promotes social inclusion and sustainability through public-private partnerships
THE Iloilo City government, led by Mayor Jerry Treñas, signed a joint venture agreement for the Uswag 4PH Condominium Complex Tuesday, 25 March.
PHOTOGRAPH COURTESY OF ILOILO CITY GOVERNMENT
The Iloilo City government has signed a joint venture agreement with EON Realty and Development Corp. (ERDC) for the construction of the P2.54-billion Uswag Condominium Complex under the Pambansang Pabahay Para sa Pilipino(4PH) program.
Mayor Jerry Treñas and ERDC president Franjieh Eon Angelo Tiu formalized the agreement on Tuesday, 25 March, at the Mayor’s Office.
The signing was witnessed by Iloilo City Local Housing Office head Peter Jason Millare and Department of Human Settlements and Urban Development (DHSUD) Western Visayas Regional Director Eva Maria Marfil.
The project will be built in Barangay San Isidro, Jaro, featuring 13 ten-story buildings with 1,677 units.
Unit prices are set at P1.53 million for 24 square meters and P1.71 million for 27 square meters, based on DHSUD-approved rates.
Under the agreement, the developer will shoulder construction costs, which will be recovered through Pag-IBIG Fund take-out proceeds.