Pag-IBIG allocates P12B for over 7,500 homes under 4PH program

The Home Development Mutual Fund, known as Pag-IBIG Fund, has allocated P12 billion to construct over 7,500 homes under the government's Pambansang Pabahay para sa Pilipino Housing (4PH) program.

Pag-IBIG signed an agreement with the Social Housing Finance Corporation (SHFC) and National Housing Authority to approve funding for housing units in various cities on Labor Day at Pag-IBIG Fund Corporate Headquarters in Makati City.

The initiative includes a medium-rise condominium project with 372 units in Valenzuela, as well as mid- and high-rise developments in San Fernando, Davao City, Tondo, and Sta. Mesa, with SHFC handling the planning and development of projects.

Under the agreement, Pag-IBIG will finance over 6,000 housing units in Pampanga, Davao City, and Manila, including 3,440 units in San Fernando City, 1,200 in Calinan District, Davao City, 2,135 in Tondo, and 425 in Sta. Mesa.

All projects will be financed through Pag-IBIG's Direct Developmental Loan Program to support the implementation of the 4PH program, which offers affordably priced homes with lower monthly amortization costs for Filipino workers who are members of Pag-IBIG Fund.