Officials of the Department of Human Settlements and Urban Development (DHSUD) and the Pag-IBIG Fund marked another milestone in President Ferdinand R. Marcos Jr.’s housing agenda on 21 May as they conducted a site inspection and ceremonial turnover of residential units under the Expanded Pambansang Pabahay para sa Pilipino Program (4PH) in Cabuyao, Laguna.
The activity was centered on Pasinaya Heights, one of the first condominium developments to rise in South Luzon under the Expanded 4PH Program, signaling the government’s determination to bring affordable and decent housing to more Filipino families beyond the National Capital Region.
DHSUD Secretary Jose Ramon P. Aliling led the inspection alongside Pag-IBIG Fund chief executive officer Marilene C. Acosta, joined by other government officials and private sector partners.
Aliling, who also serves as chairperson of the Pag-IBIG Fund Board, described the ceremonial turnover as more than a ribbon-cutting, calling it tangible proof of the Marcos administration’s resolve to make homeownership a reality for Filipinos.
The event underscored the government’s broader push to close the country’s massive housing gap, with the Expanded 4PH Program serving as the administration’s flagship response to the longstanding challenge of providing safe, affordable, and sustainable homes to millions of Filipinos who have long been priced out of the property market.
To date, nearly 300 Pag-IBIG Fund members have purchased units at Pasinaya Heights through Pag-IBIG Fund’s affordable home financing program.
Decent, affordable shelter
“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 the 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 2.5-hectare socialized condominium development consists of four seven-story residential towers with more than 2,700 housing units. It features amenities like a swimming pool, covered basketball court, playground, day-care center, health care center and open spaces.
Acosta said Pasinaya Heights shows how the Expanded 4PH Program and the Pag-IBIG Housing Loan work together to help Filipino workers own homes through affordable monthly payments.
With the program’s subsidized three-percent interest rate during the first five years, an eligible borrower buying a Pasinaya Heights unit valued at P1.404 million may pay about P5,919 per month.
This is lower than the P8,644 monthly amortization under Pag-IBIG Fund’s regular housing loan and is also below many condominium rental rates in nearby Laguna.
“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,” Acosta said.
“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,” she added.