Expanded 4PH has new scheme

The Department of Human Settlements and Urban Development (DHSUD), through the Pag-IBIG Fund, will launch a new modality under President Ferdinand R. Marcos Jr.’s flagship Expanded Pambansang Pabahay para sa Pilipino (4PH) Program to boost housing implementation further.

DHSUD Secretary Jose Ramon Aliling said the new Expanded 4PH modality would allow private developers to dispose of existing condominium inventory and help address the reported oversupply of units, particularly in the National Capital Region.

The new modality will cover condominium units in prime locations priced at P3 million or less, giving homebuyers more housing options at lower prices and with the low interest rates offered by the Pag-IBIG Fund, Aliling said.

Secretary Aliling said DHSUD and the Pag-IBIG Fund will soon announce guidelines for the new Expanded 4PH modality, which will also help private developers comply with the balanced housing program.

Developers sell more units

“With this new modality through Pag-IBIG Fund, we will enable private developers to sell more units, thus addressing inventory issues, while offering wider options for our homebuyers and access to best-located housing units at a lower price with low interest rates,” Secretary Aliling said.

“It will be a win-win balance for our stakeholders — the homebuyers and developers,” he added.

Secretary Aliling raised the new modality during last Tuesday’s meeting of the Private Sector Advisory Council Infrastructure Sector Group-Real Estate, presided over by President Marcos Jr.

Executive Secretary Ralph Recto, Department of Planning and Development Secretary Arsenio Balisacan and other government officials joined the President.