BPI-Family ups Davao City's housing loan portfolio-A A +A
Wednesday, May 25, 2011
BPI-FAMILY Savings Bank has pegged its housing loan portfolio to more than a billion peso for Davao City, one among key cities outside Metro Manila that registered highest growth in terms of housing loans.
The city ranked third in the total housing loan portfolio set by the bank, next to the city of Cebu and Pampanga.
Jocelyn Sta. Ana, BPI-Family Savings' senior vice president and head of retail mortgage, said in Wednesday's press conference that the city registered an average of 22 percent growth annually in housing loans, prompting the bank to increase its loan portfolio to "more than a billion peso."
Although she refused to provide exact figures, Sta. Ana said their loan portfolio for the city obtains a significant portion of the bank's total portfolio.
"Davao City is a hot place. There is a growing demand for housing here. If you see, almost all developers are coming...there is much to do in this city," she said.
With the city's market potential, BPI-Family Savings announced Wednesday it is bringing back to the city its Housing Madness, a housing fair that offers the best housing loan deals.
The four-day event opens Thursday at Abreeza Mall and will bring together the leading real estate developers to showcase their development projects in the city and neighboring areas.
BPI-Family Savings president Jose Teodoro Limcaoco said they have collaborated with 12 real estate developers who will offer
"The best housing loan deals yet to be offered in the market" for Dabawenyos seeking to own a house or a condominium.
Participating developers include city-based Kisan Lu Lands Inc., Santos Land Development Corp., Hemeni Lands Corp., Holiday Garden Island Development Corp. and Uraya Lands Inc.
Also joining the event are the country's top developers -- Alveo Land Corp., Avida Land Corp., Ayala Premier Lands and Development Corp., Robinson Lands Corp., DMCI Urban and Camella Communities-Davao, Inc.
"Our Housing Madness provides our clients with ease and convenience that comes from having the best developers under one roof," Limcaoco said.
For the event, he said the bank has created "the best value for our clients through our special rates and payment schemes."
He said housing loan applicants at the event can enjoy a housing loan package with guaranteed lowest rates.
"All they have to do is apply for a loan during the event and have it booked on or before June 30 and enjoy the lowest interest rate," Limcaoco said.
Sta. Ana said loan applications booked on the same date can get the lowest 5.5 percent interest rate for loan repricing fixed for one year plus a P10,000 discount on their first monthly amortization.
"Beyond June 30, applications received during the event and booked within the year will also enjoy competitive rates and still get to enjoy P10,000 off on their first monthly installment," she said.
Published in the Sun.Star Davao newspaper on May 26, 2011.