DBP taps PH1 for P2-B housing buildout

The Development Bank of the Philippines (DBP) is financing an affordable housing drive to ease the country’s housing backlog.

Over the weekend, the state-run firm said that it sealed a P2-billion loan agreement with PH1 World Landscapes Inc. to fund the construction of 8,360 housing units under the Pambansang Pabahay Para sa Pilipino Housing program.

The financing will support developments in Caloocan City and the cities of Imus and Bacoor in Cavite, with projects expected to generate more than 1,000 jobs while catering to low-cost and mid-tier markets.

“This collaboration is seen to contribute to the fulfillment of the National Government’s goals of constructing affordable housing units that would unite families, strengthen communities, and generate livelihood opportunities for our countrymen,” DBP president and chief executive officer Michael O. de Jesus said.

PH1 World Landscapes, a real estate arm of the Megawide Group established in 2022, is among the private sector partners of the Department of Human Settlements and Urban Development, which is leading the 4PH program. The company has ongoing projects across Metro Manila, Bulacan and Cavite.

DBP, with total assets of P1.041 trillion, channels financing to priority sectors including infrastructure, small businesses, the environment, and community development.

As of 31 January, the bank has approved P1.31 billion in assistance to two local government units and one developer under its BAHAY-4PH Program, which funds project proponents under the national housing initiative.

“DBP’s support for these projects is deeply aligned with its core development thrusts and it will continue to explore avenues to support the Marcos Administration in its noble objective to make homeownership more accessible to low-income households,” de Jesus said.