Pag-Ibig Fund approves P815M funding to construct more than 4,500 homes in Rizal under 4PH

Pag-Ibig Fund approves P815M funding  to construct more than 4,500 homes in  Rizal under 4PH

The Pag-Ibig Fund has approved an P815 Million developmental loan to construct a  total of 17 medium to high-rise condominium buildings in San Mateo, Rizal under the  government’s Pambansang Pabahay para sa Pilipino Housing (4PH) Program. Once  completed, the project will provide a total of 4,670 units for Pag-Ibig members living in  the area, officials announced on Tuesday, June 4, 2024. 

“I am pleased to report that there is a consistent growth of proponents partnering with  Pag-Ibig Fund in building sustainable and self-sufficient communities through the 4PH  Program. Buyer-beneficiaries of the 4PH will now have access to more affordable and  decent homes, in line with President Marcos’ vision to address the housing needs of  Filipino workers, especially the underserved,” said Secretary Jose Rizalino L. Acuzar,  who heads the Department of Human Settlements and Urban Development (DHSUD)  and the 11-member Pag-IBIG Fund Board of Trustees. 

Located in Brgy. Guitnang Bayan I, San Mateo, Rizal, the first phase of the project has  already made significant progress through the construction of buildings 1 to 6 with a  total of 1,080 condo units, within just seven months from the signing of the contract  between the developer and the Municipality of San Mateo. 

Aligned with Pag-Ibig’s commitment to integrity and proper fiscal management,  safeguards are implemented including the developer-contractor’s compliance with  required permits and accreditations, application of a maximum payment term of three  years for the developmental loan, and provisions ensuring the release of funds only  for the intended projects. 

Pag-Ibig Fund chief executive officer Marilene C. Acosta highlighted the benefits for  Pambansang Pabahay (4PH) buyer-borrowers, including lower payment terms through  subsidies and acquiring properties in a sustainable community with access to essential  infrastructure and services. 

"Pag-Ibig Fund members will greatly benefit from availing of projects under the  Pambansang Pabahay (4PH) program, which include affordable monthly payments due  to interest and price subsidies as package price is regulated. This will ensure  affordability while enjoying quality living in a well-designed township with vertical  infrastructure in proximity to commerce centers, educational institutions, and healthcare  centers. These buildings ensure that residents will have comfortable and improved  living conditions through green features, communal open spaces and gardens, as well as  amenities such as swimming pools and basketball courts. Our aim is to elevate the  quality of life for Filipino workers through the opportunity of homeownership,” Acosta  said. (PR) 

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