DHSUD, Pag-IBIG Visit hand keys to new condo owners under Expanded 4PH
Officials from the Department of Human Settlements and Urban Development (DHSUD) and Pag-IBIG Fund held on May 21 a ceremonial turnover of housing units under President Ferdinand R. Marcos Jr.’s Expanded Pambansang Pabahay para sa Pilipino Program (4PH) in Cabuyao, Laguna.
DHSUD Secretary Jose Ramon P. Aliling and Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta led the inspection of Pasinaya Heights, one of the pioneering condominium developments in South Luzon under the Expanded 4PH Program.
Decent, affordable housing
During the event, Aliling, who also chairs the Pag-IBIG Fund Board of Trustees, said the ceremonial turnover reflects the administration’s commitment to help more Filipino families gain access to decent and affordable housing.
To date, nearly 300 Pag-IBIG Fund members have already purchased units in Pasinaya Heights through Pag-IBIG Fund’s affordable home financing program.
“President Marcos has been clear in his directive: decent and affordable housing must be brought closer to Filipino families, especially workers who need government support the most. Pasinaya Heights shows what can be achieved when government, Pag-IBIG Fund, and responsible private developers work together. Through the Expanded 4PH Program, we are turning the President’s housing directive into actual homes that Filipino workers can afford,” Aliling said.
Pasinaya Heights
The 2.5-ha socialized condominium development consists of four seven-story residential towers with more than 2,700 units. It features amenities such as a swimming pool, covered basketball court, playground, day care center, health care center, and open spaces for residents.
Acosta said Pasinaya Heights shows how the Expanded 4PH Program and the Pag-IBIG housing loan work together to help Filipino workers own homes through affordable monthly payments.
With the program’s subsidized 3 percent interest rate during the first five years, an eligible borrower buying a Pasinaya Heights unit valued at P1.404 million will likely pay P5,919 per month. This is lower than the P8,644 monthly amortization under Pag-IBIG Fund’s regular housing loan, and is also below many condominium rental rates in nearby areas.
“Every peso saved from monthly housing payments matters to our members. It can help pay for food, education, health care, utilities and other daily needs of the family,” Acosta said.
“Through the Expanded 4PH Program and Pag-IBIG Fund’s subsidized Housing Loan rate for socialized homes, Filipino workers now have a real and practical path to owning a safe and decent home. In doing so, we help ease the monthly burden of Filipino families, bring homeownership within their reach, and allow them to build a better future under a Bagong Pilipinas,” she explained.
Acosta likewise recognized Joy~Nostalg Hearth Corp. for its continued partnership with Pag-IBIG in advancing socialized housing projects nationwide. She said the developer has consistently been recognized among Pag-IBIG Fund’s top performing partners, reflecting its significant contribution to expanding access to affordable housing.
