PUEBLO de Oro Cebu was recognized by Home Development Mutual Fund (HDMF) Pag-IBIG as Top 3 Developer in the Visayas for Take Out of Housing Loan Deliveries for four years starting in 2014 to 2017.
The award was presented during the 2017 Home Lending Accomplishment Report and Awarding/Recognition of Top Performing Developers last October 6, 2017 at the City Sports Club in Cebu City.
Pueblo de Oro President and COO Rhoel Alberto B. Nolido accepted the special citation from HDMF Pag-IBIG Fund CEO Acmad Rizaldy P. Moti. This is the fourth year in a row that Pueblo de Oro has placed in the Top 5.
The dynamic economy in Cebu, aligned with the improvements implemented by Pag-IBIG which included lower interest rates and enhanced collection efficiency, fueled the growth in loan value takeouts to P4.29 billion during the first half of 2017, 53% higher than the same period last year.
For his part, Mr. Nolido, who was also the keynote speaker during the event, stated how, for the two years from 2015 to present, Pueblo de Oro’s takeouts grew by 42% a year.
Mr. Nolido also highlighted Pueblo de Oro’s partnership with Pag-IBIG and how PODC’s success and growth in the recent years was largely attributable to Pag-IBIG loan takeouts.
“In Cebu, 80% of our takeouts are actually Pag-IBIG,” said Mr. Nolido.
He expressed his hopes that as Pag-IBIG loan processing is faster, this growth could be replicated in Pueblo de Oro Pampanga and Batangas.
“Previously, the share of Pag-IBIG in those areas for Pueblo was only 20%, but with the increase in our Pag-IBIG accounts in Luzon, Visayas and Mindanao projects, our total takeouts have grown by 89%.” This is why, he explained, more and more developers are turning to Pag-IBIG.
This rapid growth in Pag-IBIG takeouts have been instrumental in another aspect of Pueblo de Oro and Pag-IBIG’s partnership. Due to the fast takeout process, Pueblo de Oro was able to pay off its three-year Pag-IBIG development loans in less than a year, and plans to secure another loan worth double the value within the year.
Pueblo de Oro is the owner-developer of the Pueblo de Oro Township in Cagayan de Oro City (CDO). The Township stands as a testament to Pueblo de Oro’s vision and the company’s ability to cause positive transformation and create value in an area.
From 360 hectares of raw land in uptown CDO, the company has crafted a world-class master planned Township, complete with several residential enclaves catering to different income levels ranging from the high-end market to mid-income segment of economic and socialized housing.