Officials from the Department of Human Settlements and Urban Development and the Pag-IBIG Fund inspected a housing project and led a ceremonial turnover of condominium units under President Ferdinand Marcos Jr.’s Expanded Pambansang Pabahay para sa Pilipino Program (4PH) on Thursday, 21 May.
The activity at Pasinaya Heights formed part of the government’s socialized housing program aimed at expanding access to homeownership through subsidized financing and public-private partnerships.
Department of Human Settlements and Urban Development Secretary Jose Ramon P. Aliling and Pag-IBIG Fund CEO Marilene C. Acosta joined other officials and private sector representatives in inspecting Pasinaya Heights, a 2.5-hectare development in Cabuyao.
Aliling, who also chairs the Pag-IBIG Fund Board of Trustees, said the turnover reflects the administration’s housing agenda.
Nearly 300 Pag-IBIG members have purchased units in the development through the agency’s housing loan program.
“President Marcos has been clear in his directive: decent and affordable housing must be brought closer to Filipino families, especially workers who need government support the most. Pasinaya Heights shows what can be achieved when government, Pag-IBIG Fund, and responsible private developers work together. Through the Expanded 4PH Program, we are turning the President’s housing directive into actual homes that Filipino workers can afford,” Aliling said.
The project consists of four seven-story towers with more than 2,700 units. It also includes amenities such as a swimming pool, basketball court, playground, day care center, and health center.
Acosta said the Expanded 4PH Program, combined with Pag-IBIG’s housing loan scheme, is designed to lower monthly payments for members.
With a subsidized 3% interest rate for the first five years, an eligible buyer of a ₱1.404-million unit would pay about ₱5,919 a month, compared with about ₱8,644 under Pag-IBIG’s standard housing loan, officials said.
“Every peso saved from monthly housing payments matters to our members. It can help pay for food, education, health care, utilities and other daily needs of the family. Through the Expanded 4PH Program and Pag-IBIG Fund’s subsidized Housing Loan rate for socialized homes, Filipino workers now have a real and practical path to owning a safe and decent home. In doing so, we help ease the monthly burden of Filipino families, bring homeownership within their reach, and allow them to build a better future under a Bagong Pilipinas,” Acosta said.
Acosta also cited Joy~Nostalg Hearth Corporation as the project developer, noting its role in socialized housing projects nationwide.
