Pag-IBIG Fund invests P10B in Megawide for 7,143 affordable housing units

Pag-IBIG Fund is investing P10 billion in Megawide Construction Corp. to accelerate the construction of 7,143 affordable housing units under the government's Expanded 4PH program.

The funding will be channeled through Megawide Dreamrise Residences Inc. via preferred shares, with P5 billion for the first tranche and P2.5 billion each for the second and third tranches.

The partnership will initially focus on two sites in Dasmariñas, Cavite: the Dasmariñas-Salitrán site with 4,185 units and the Dasmariñas-Paliparan site with 2,958 units.

These homes are expected to be priced below market rates, falling within the socialized housing range, and will feature amenities typically found in higher-priced developments.

Department of Human Settlements and Urban Development Secretary Jose Ramon Aliling highlighted that the partnership aims to expand socialized housing supply and enable faster construction and accessible pricing.

This initiative supports President Ferdinand R. Marcos, Jr.'s directive to widen access to homeownership through private sector participation and scaled construction.

The preferred shares carry a nine percent annual cash dividend, payable annually, with a step-up to 18 percent if the shares are not redeemed.