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HomeFront PageBreaking NewsMarcos’s multi-billion Pabahay program reaches Davao, Misor

Marcos’s multi-billion Pabahay program reaches Davao, Misor

by JOEL C. ESCOL, Managing Editor

CAGAYAN DE ORO CITY – The Pambansang Pabahay Para sa Pilipino Housing (4PH) Program of President Ferdinand “Bongbong” Marcos, Jr has now touched Mindanao, with the housing projects currently ongoing in Davao and Tagoloan town in Misamis Oriental.

According to Engr. Felman Gilbang, SHFC Vice President for Visayas-Mindanao 4PH, in Davao, the project is located in Barangay Riverside, Calinan, Davao City.

With over 14 hectares total land area, Peoplesville will cater to 7200 beneficiaries. It will have complete amenities such as a swimming pool, parking areas, and all others.

While in Tagoloan town in Misamis Oriental, the 4Ps program will be known as Valley View Township, and it will rise at a 14.6 hectare property. It will benefit a total of 10,400 beneficiaries, Gilbang said. It will also have amenities and facilities, it was learned.

Just recently, the 4Ps program was also introduced in Cagayan de Oro.

Dubbed as “Klarexville Housing,” it will also benefit 6,000 qualified families, it was learned.

MORE PROJECTS

Meanwhile, Pag-IBIG Fund has approved a P929-million revolving credit line for the Social Housing Finance Corporation (SHFC) to support the construction of 2,264 housing units in Pampanga, Manila, Misamis Oriental, and Davao City. This funding is part of the government’s Pambansang Pabahay para sa Pilipino Housing (4PH) Program, according to an announcement made by Pag-IBIG Fund’s top officials on Friday, December 15.

Secretary Jose Rizalino L. Acuzar, who leads the Department of Human Settlements and Urban Development (DHSUD) and chairs the 11-member Pag-IBIG Fund Board of Trustees, expressed his satisfaction with the initiative.

“I am happy to report that our key shelter agencies remain united in their mission of bringing opportunities for homeownership closer to our fellow Filipinos, especially the underserved.

With Pag-IBIG Fund’s approval of a revolving credit line for the SHFC, we are now better equipped to provide our informal settler families (ISFs) with affordable housing in a safe environment under secure communities, which is what we envision under the 4PH Program of President Ferdinand R. Marcos, Jr.,” Acuzar said.

The revolving credit line will finance medium and high-rise condominium projects under the 4PH program, which include 996 units in San Fernando City, Pampanga; 352 units in Tondo, Manila; 416 units in Tagoloan, Misamis Oriental; and 500 units in Davao City. To ensure proper use of funds, the credit line includes safeguards such as corresponding loan collaterals, a maximum payment term of three years, and provisions to ensure funds are released for the intended projects.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta emphasized the significance of this funding. “Pag-IBIG stands as the single largest source of home financing in the country today, with a share of nearly 40% of the home mortgage market. We recognize our role in providing the financing for socialized housing projects so that these become more accessible and affordable for low-income earners. We are happy to partner with the SHFC under the Pambansang Pabahay para sa Pilipino or 4PH Program, so that our ISF communities will now have a better chance of owning quality homes in sustainable communities. Our members can expect more similar partnerships to provide them even more opportunities to own a home,” Acosta stated.

ABOUT SHFC

The Social Housing Finance Corporation (SHFC) was established by Executive Order No. 272 (E.O. 272), which transferred the responsibilities of the Community Mortgage Program (CMP), Abot Kaya Pabahay Fund (AKPF) Program, and other social housing functions from the National Home Mortgage Finance Corporation to SHFC.

As mandated by E.O. 272, SHFC is the primary government agency responsible for implementing social housing programs for formal and informal low-income sectors. It is tasked with developing and managing social housing schemes, particularly the CMP and the AKPF Program, which include amortization support and development financing.

By 2022, SHFC aims to have provided 530,000 organized homeless and low-income families with Flexible, Affordable, Innovative, and Responsive (FAIR) shelter solutions.

We strive to empower and improve the living conditions of underprivileged communities by Building Adequate, Livable, Affordable, and Inclusive (BALAI) Filipino Communities. We achieve this by offering FAIR shelter solutions through strong partnerships with national and local governments, civil society organizations, and the private sector. ###

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