Pag-IBIG Fund and SM Development Corp. have partnered to expand the range of SMDC properties that qualified members may purchase through Pag-IBIG housing loans.

The two parties signed a memorandum of understanding on 8 September covering preferential prices on selected units, buyer education and planned programs for prospective homeowners.

The partnership supports efforts by the Department of Human Settlements and Urban Development and Pag-IBIG Fund to increase private-sector participation in President Ferdinand Marcos Jr.’s Expanded Pambansang Pabahay para sa Pilipino Program.

DHSUD Secretary Jose Ramon Aliling, who chairs the Pag-IBIG Board of Trustees, said the partnership would give Filipino workers more housing options near their workplaces.

“The direction of President Ferdinand R. Marcos Jr. is clear. We want more Filipino workers and their families to have a real opportunity to own a home in the city, particularly one closer to where they work. With Pag-IBIG Housing Loans now up to ₱10 million for each qualified member, more Filipino workers can choose from SMDC properties and pay for their chosen home at affordable rates over time,” Aliling said.

“This is what Expanded 4PH is achieving by bringing stronger government support and growing private-sector participation together so that more Filipinos can have a home of their own.”

Under the agreement, SMDC will offer preferential prices to qualified Pag-IBIG housing loan borrowers for selected units in participating accredited projects.

The accredited properties currently include Coast Residences and ICE Tower in Pasay City, Spring Residences in Parañaque City, selected phases of Hill Residences in Quezon City, and SMDC Cheerful Homes 1 and 2 in Pampanga.

Additional developments in Makati, Mandaluyong, Pasay and other growth areas are undergoing accreditation. These include high-rise, mid-rise and house-and-lot projects under SMDC Heights, SMDC Nature and SMDC Symphony Homes.

SM Prime and SMDC President Jeffrey Lim said cooperation between the government and private developers was necessary to make homeownership more accessible.

“Homeownership is too important for any one institution to address alone. Making it more attainable requires strong partners with a shared commitment to Filipino families,” Lim said.

Pag-IBIG Fund Chief Executive Officer Marilene Acosta said the partnership would allow members to select homes based on their needs, preferred locations and budgets.

“Affordable financing truly serves its purpose when our members also have suitable homes to choose from. Through our partnership with SMDC, more Filipino workers can choose a home based on their family’s needs, preferred location and budget, then finance it affordably through Pag-IBIG. Our promotional rates of 4.5% on loans of up to ₱4.9 million and 5.75% on loans above ₱4.9 million and up to ₱10 million make financing their chosen home even more affordable and are available to qualified borrowers until the end of the year,” Acosta said.

Acosta and Lim signed the agreement in Makati City, with Aliling and SMDC Executive Vice President Grace Sta. Ana serving as witnesses.