More top developers to join Expanded 4PH housing program
More major property developers are expected to join President Ferdinand Marcos Jr.’s Expanded Pambansang Pabahay para sa Pilipino (4PH) Program this week, as the government seeks to expand affordable housing options for Filipino homebuyers.
Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Ramon Aliling said executives from two major developers are scheduled to sign separate agreements with Pag-IBIG Fund within the week, formalizing their participation in the nationwide rollout of the expanded housing program.
Aliling described the entry of established developers as a potential game-changer for the government’s housing initiative, citing growing private sector confidence in the program.
“This is a game-changer for the government’s housing program. Private sector confidence continues to grow, particularly with the participation of some of the country’s leading and most respected developers,” Aliling said.
“We see this growing private sector confidence as a positive vote of support for the sustainability of the Expanded 4PH Program. The private sector’s trust in the government is crucial to the success of our programs,” he added.
Five major developers have so far signed memorandums of understanding 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.
Aliling said the participation of established developers would help provide homebuyers with quality housing and a wider range of financing options.
“With the entry of these major developers, we are confident that we can offer homebuyers quality housing in good locations that will benefit them,” he said.
Under the agreements, participating developers will offer preferential rates and other incentives for housing units in selected projects to qualified Pag-IBIG Fund members under the Expanded 4PH Program.
Pag-IBIG Fund, meanwhile, will make housing financing available to more members seeking affordable homeownership, while developers will contribute additional housing inventory to support the government’s flagship initiative.
Aliling said the DHSUD and its key shelter agencies would further expand the program in line with Marcos’ directive.
“We will intensify efforts to expand the government’s housing program, in accordance with President Marcos’ directive,” he said.
“This means more projects and more choices and options for our fellow Filipinos,” he added.