MANILA —- President Benigno Aquino III on Monday launched the first tranche of housing units for men and women in uniform in a village in Bulacan.
The President led the ceremonial opening of the Bocaue Hills Housing Project in Batia village that aims to provide an initial 4,000 low-cost housing units to members of the Armed Forces of the Philippines (AFP) and the Philippine National Police (PNP).
To be built at P140,000 per housing unit, qualified members of the AFP and the PNP who avail of the project will only have to shell out P200 a month for the first five years of amortization.
On the other hand, the remaining 30 years of payment will be computed with a compounded interest method to produce an affordable amortization ranging from P400 to P800 only.
To recall, the President signed Administrative Order No. 9 last April 11 ordering the National Housing Authority (NHA) to formulate, implement, and manage housing projects for 20,000 military and police personnel.
Apart from Bocaue, the other housing sites are located in San Jose del Monte and Norzagaray in Bulacan; Baras and Rodriguez in Rizal; Calamba, Laguna; and Trece Martires and General Trias in Cavite. (Virgil Lopez/Sunnex)