Developers flock amid 4PH success

More of the country’s major property developers are expected to join President Ferdinand Marcos Jr.’s flagship Expanded Pambansang Pabahay para sa Pilipino (4PH) Program this week.

Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Ramon Aliling said officials from two prominent developers are scheduled to sign separate agreements with the Pag-IBIG Fund this week, formalizing their participation in the nationwide rollout of the expanded housing program.

Secretary Aliling welcomed the expected partnerships, describing the entry of more major developers as a potential game-changer for the government’s housing initiative.

So far, five major developers have signed memorandums of understanding (MoU) with Pag-IBIG Fund in support of the program: Megawide Construction Corp., Ayala Land Inc. housing brands Amaia and Avida, SM Development Corp., Filinvest Land Inc. and Robinsons Land Corp.

“This is a gamechanger as far as government housing programs are concerned. Private sector confidence continues to grow, especially coming from some of the country’s top and respected developers,” Secretary Aliling said.

Confidence grows

“We take this growing confidence from the private sector as a positive vote for the sustainability of the Expanded 4PH Program. The private sector’s confidence in the government is crucial to the success of our programs,” he added.

At the same time, the DHSUD chief said that the entry of reputable developers into Expanded 4PH through the Pag-IBIG Fund provides better-quality housing and wider financing options for homebuyer-beneficiaries.

“With the entry of major developers, we are confident that we can offer homebuyers quality housing units in strategic locations that will best serve their needs,” Secretary Aliling said.

Under the MoUs, participating developers will offer preferential rates and other incentives for housing units in select projects to qualified Pag-IBIG Fund members under the Expanded 4PH.