A TOTAL of 135 housing units and 14 open lot units will be dedicated for employees and staff of Ateneo de Davao University (AdDU) after Pag-Ibig Fund signed a memorandum of understanding (MOU) on Thursday, September 26 with the AdDU and Realty Investments, Inc. (RII) for a housing project.
The housing project, dubbed AdDU Homes Xavierville, located at Sitio San Pedro, Catalunan Grande, Davao City, will be available through the Pag-Ibig Fund’s Affordable Housing Loan Program.
During the ceremony at dusitD2 Davao Hotel, Pag-Ibig awarded some of the housing units to a total of 12 employees and staff.
“This is very helpful for me because the housing is very affordable. I never thought I can own a house before but with this project, it will be possible,” Christine Chu Fontecha, an employee of the university for three years said in an interview.
Another employee who was also awarded was Irish Joy Galang, an employee of the university for 34 years.
Pag-Ibig Fund deputy chief executive officer for Home Lending Operations Marilene Acosta said this housing project, is part of our Countryside Housing Initiative or CHI which brings together institutions both from the government and private sectors in creating housing projects, particularly for the underserved.
“We are happy that we have like-mined institutions such as the AdDu and RII who share our vision of providing decent and affordable shelter for our Filipino workers. This initiative is part of the BALAI (Building Adequate, Livable, Affordable and Inclusive) Filipino Communities Program of the government’s housing sector, and supports the call of President Rodrigo Roa Duterte of providing decent shelter for every Filipino worker,” she said.
Through the partnership, employees of the AdDU shall be provided the opportunity to own their own homes valued at nearly P700,000 for a price of only P480,000. The units can also be purchased by the university’s employees who are in the minimum-wage bracket through the Pag-IBIG Fund’s Affordable Housing Loan Program, which offers the lowest rate in the market of only 3 percent per annum, making this opportunity of homeownership even more affordable.
Joining Acosta and the Pag-Ibig Fund in the event were AdDU officers led by its executive vice president, Jeremy Elias, and RII investments represented by Orlando Padillo.