4PH participation of top developers to scale up housing production

The Department of Human Settlements and Urban Development welcomed the participation of major property developers in the Expanded Pambansang Pabahay para sa Pilipino Program, or Expanded 4PH, saying their involvement could help accelerate housing production.

DHSUD Secretary Jose Ramon Aliling said partnerships between the Pag-IBIG Fund and some of the country's major developers indicate growing private-sector support for the government's flagship housing program.

"Ang patuloy na lumalawak na suporta ng mga respetadong developer sa mga programang pabahay ng gobyerno ay patunay na tayo ay nasa tamang direksyon sa pagsusulong ng mas inklusibong sektor ng pabahay," Aliling said.

"Inaasahan natin na mas mapapabilis pa ang housing production sa pagpasok ng mga malalaking kumpanya sa Expanded 4PH Program," he added.

Filinvest Land Inc. became the latest private developer to partner with Pag-IBIG Fund after signing a memorandum of understanding last Tuesday in support of the government's housing initiative.

Under the agreement, qualified Pag-IBIG Fund members may avail themselves of preferential financing rates, special discounts, home furniture packages and other incentives on select Filinvest units, subject to applicable terms and program guidelines.

The agreement came less than a week after SM Development Corp. also entered into a partnership with Pag-IBIG Fund for the Expanded 4PH.

In August, Ayala Land Inc.'s residential brands Amaia Land Corp. and Avida Land Corp. signed separate agreements with Pag-IBIG Fund, providing Filipino homebuyers with more housing options under the fund's special financing rates.

Megawide Construction Corp., meanwhile, committed in February to build at least 7,000 socialized housing units under the Expanded 4PH using modern construction technologies. Its housing projects under the program are underway in Cavite.

DHSUD said the partnerships allow Pag-IBIG Fund to extend housing financing to more members while participating developers add housing inventory to the government's flagship program.

Pag-IBIG Fund has also increased its maximum loanable amount to P10 million for qualified members, expanding its financing coverage from socialized housing to the open-market segment.

"Mas maraming pagpipilian, mas maraming option para sa ating mga kababayan. Marami pa po tayong pwedeng gawin upang mas mapabuti pa ang Expanded 4PH alinsunod sa direktiba ni Pangulong Ferdinand R. Marcos Jr. upang mas maraming pamilyang Pilipino pa ang matulungan nating magkaroon ng sariling tahanan para sa mas may dignidad na pamumuhay," Aliling said.